How much is my $100 savings bond is worth

Sometimes, we fail to pay proper attention to our savings bonds. The fact is most of us don’t even know or understand how our saving bonds grow. You won’t know how much your $100 savings bond is worth if you do not know how to calculate it.

In this article, I will be showing you how to calculate how much your $100 savings bond is worth. But first, what’s a savings bond?

Savings Bond

According to Wikipedia, Savings bonds are debt securities issued by the  United States Department of the Treasury to help pay for the needs of the U.S. government. Saving bonds are considered one of the safest forms of investment because they are backed up by the U.S. government. This is a good investment and knowing how much your $100 savings bond is worth will help you manage your investment better.

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Features of a Savings Bond

1. A savings bond runs for a specified period; usually from 1 to 10 years or longer.
2. You are obligated to leave your money untouched for a full term. Guess that’s why it’s a bond.
3. It pays an agreed interest rate occasionally.

Types of Savings Bonds

1. Series EE: This savings bond earns a specified interest rate and is traded digitally. It generates interest every 30 years and you won’t be penalized for redeeming the bond after 5 years.
2. Series I: This savings bond can either be sold digitally on TreasuryDirect or manually.

How Does Savings Bond Work?

1. A savings bond works by paying a specific interest rate on a bond. Depending on the type of saving bonds you acquired, it is possible to get the bond twice the amount you bought it.
2. To fully mature to double the initial value of the bond requires a great deal of time. For instance, 20 years.

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How to Know How much your $100 savings bond is Worth

The worth of a savings bond varies depending on some basic factors such as when the bond was issued; if it was sold at a face value or a percentage of face value; and what the type of savings bond it is.

If you got a savings bond electronically, you can set up a stockpile that will allow you quickly view the next mature date, extend the date, and pay back the worth. It will require that you state the specific bond type it is and the date it was issued.

Also, there are some free tools you can use in calculating it. You can access them at www.treasurydirect.gov.

Conclusion

It is advisable to know how much your $100 savings bond is worth. I believe that by reading this article and checking out the tools on the site mentioned above, you will be able to do this calculation accurately and with ease.