If you have ever thought of redeeming savings bonds before their maturity date, you should know how to use a savings bond calculator. Using a savings bond calculator allows a consumer to know the value of their bonds before taking them to a bank or other financial institution for redemption, reducing the risk that the consumer will not receive the appropriate amount for the bonds.
How to Use a Savings Bond Calculator: Step 1
Gather the bond(s) you are trying to determine the value of.A savings bond calculator requires information from the bond in order to determine the current value of the bond. This information can be found on the savings bonds; if you do not have your savings bond the savings bond calculator can still be used if you know the denomination, series, serial number, and issue date of the bond.
How to Use a Savings Bond Calculator: Step 2
Find an online savings bond calculator. The best savings bond calculator comes directly from the source – the U.S. Treasury. TreasuryDirect offers an online savings bond calculator free of charge to all consumers. Other online savings bond calculators exist on the internet as well.
How to Use a Savings Bond Calculator: Step 3
Enter the required information into the savings bond calculator. Input the series (EE, I, E, or Savings Note), the denomination, serial number and the issue date as printed on the bond. Hit calculate to determine how much your bond is worth today.
How to Use a Savings Bond Calculator: Step 4
Enter a future date to determine a savings bond’s value in the future. If you would like to know how much your bond will be worth in the future, enter a future date into the date field. The savings bond calculator will then display the future value of the savings bond.
How to Use a Savings Bond Calculator: Step 5
Take your bonds to the bank for redemption. Paper bonds can be redeemed at most financial institutions including banks and credit unions. You will need photo identification and the paper bond itself. If you only have electronic bonds, they can be redeemed through the U.S. Treasury’s TreasuryDirect website.
Using a savings bond calculator is safe and easy. If you plan on redeeming your savings bond, determine their worth before you head to the bank to ensure you receive the proper amount. Additionally, figure out if it is advantageous to redeem your savings bonds now – or wait until a future date for redemption.
References:
http://www.treasurydirect.gov/indiv/tools/tools_savingsbondcalc.htm
http://www.treasurydirect.gov/BC/SBCPrice
