How To Determine Worth Of U.S. Savings Bond
Knowing how to determine the worth of a U.S. savings bond is a vital factor in owning the government-issued savings product. Savings bonds are not like a bank savings account, where the owner of an account receives a monthly or quarterly statement showing how much interest has accrued and the current value of the account. Instead, owners of savings bonds who want to know the value of their bond have to get that information for themselves.
- One way to determine the worth of a U.S. savings bond is to take your bond to a bank. Any bank should be able to give you the current value of the bond. This is good if the only information you’re interested in is the current-day cash value of a savings bond.
- Another way to determine the value of a U.S. savings bond is to visit the website of the U.S. Treasury. This website has an online calculator you can use to find out how much your bonds and savings notes are worth. In addition, you can also find out what the current rate of interest is on your bond, the next interest accrual date, the final maturity rate, and other information.
- A third way to determine the worth of your U.S. savings bond is to download the Savings Bond Wizard from the TreasuryDirect website. This product is free, and allows you to manage and print an inventory of your bonds, as well as determine the worth of your savings bonds, the next accrual date, and interest earned on your bond. Because savings bond rates are announced twice yearly—in May and November—the Savings Bond Wizard can be updated after these dates, so that you are always receiving the most up-to-date information.
Savings bonds are relatively safe savings investments that usually pay either a comparable or higher interest rate than other equally-secure products. Knowing how to determine the worth of your U.S. savings bond gives you the information you need to make informed decisions, making you a better investor.