Found Old Savings Bonds in a Drawer? Here Is How to Cash Them In for Free

That old bond may still be real money

Maybe you found a paper savings bond in a parent's drawer. Maybe you bought one years ago and forgot. Either way, it could still be worth cashing in.

U.S. savings bonds earn interest for up to 30 years. After that, they stop growing. Many people hold matured bonds without knowing they have already stopped earning, so there is no reason to wait.

The good news: finding and cashing bonds through the U.S. Treasury is free. You never need to pay a company to do this for you.

Know what kind of bond you have

There are a few types. EE bonds are guaranteed to double in value in 20 years and earn a fixed rate. I bonds are built to keep up with inflation, and their rate changes every 6 months.

Then there are older bonds. HH bonds were last sold in 2004. As of August 1, 2024, all HH bonds have reached final maturity, which means they have stopped earning interest.

The Treasury has sold many bond series since 1935. If yours is old, the rules may be different from bonds sold today. The TreasuryDirect site can help you sort out what you are holding.

Steps you can finish this week

Start by gathering any paper bonds you can find. Check drawers, safe deposit boxes, and old files. Then use the free tools on TreasuryDirect to figure out what each one is worth and how to redeem it.

If you cannot find a paper bond but think one exists, the Treasury also has a search tool for matured bonds. Some matured bonds now flow to state unclaimed property programs, so that is another free place to look.

Frequently asked questions

Does it cost anything to cash a savings bond?

No. Finding and cashing your savings bonds through TreasuryDirect is free. You never need to pay a middleman to claim money that is already yours.

What if I lost the paper bond?

You may still be able to recover it. TreasuryDirect has a tool to search for matured savings bonds, and some matured bonds move to state unclaimed property programs you can search for free.

How do I know if my bond stopped earning interest?

Bonds earn interest for up to 30 years. Use the TreasuryDirect tool to find how much your bond is worth and whether it has reached final maturity.

Can I cash a paper bond at a bank?

Some banks cash paper savings bonds for customers. TreasuryDirect posts instructions for banks, and it also explains how to redeem bonds directly.