US saving bonds are issued by the US Treasury, which offer a fixed rate of interest over a fixed period of time. US Savings bonds are non marketable securities, you cannot purchase or sale them, unless you are an authorized issuing and redeeming agent designated by The US Treasury Department. Now the Us Government provides Savings Bond Calculator which can help you to decide the value of your several U.S. Government savings bonds, including EE, HH, and I series. By this calculator, you will get features like current interest rate, next accrual date, final maturity date, year-to-date interest earned, and more. Savings Bond Calculator is available on the net, which you can get easily form many websites but among that www.savingsbonds.gov and  www.treasurydirect.gov are best.

US Saving bonds are debt of the US government. It has tax advantages. You can postpone federal taxes on the interest until you cash in the bond or stop paying interest at maturity. Interest paid on these bonds is except from state and local income taxes. Savings Bonds are not flexible instruments and cannot be transferred to anyone at will. US people have many reasons to purchase saving bonds, first is safety and second is full faith and credit of the United States Government, therefore the principal and interest will never be lost due to changes in the financial markets.

You can invest as little as $25, that’s why it is an easy way for Americans to save. If you used this saving bond for Educational Purposes, then it is even completely Federal Income Tax Free. Recently, US has provided three types of Bond: Series EE, Series I, and the Patriot Bond. In the past, you could only buy saving bonds from your local bank, but with the wave of popularity growing, Savings Bonds are now also available on the internet. At the time of the purchase, you can register for bond to single person, two people or a primary owner and a beneficiary. In the case of the beneficiary registration, the bond is controlled by the primary owner. If primary owner dies, then ownership passes to the beneficiary.

Types of saving bonds

EE Bonds: EE saving bonds have been offered from 1st July, 1980. It is a reliable, low-risk government-backed savings product that you can use to supplemental retirement income, financing education, birthday and graduation gifts, and other special events. The EE saving bonds are available for purchase: $50, $75, $100, $200, $500, $1,000, $5,000 and $10,000. You can purchase EE savings bonds at half of their face value. You can purchase EE saving Bonds or I Saving Bonds at a local bank, financial institution, your credit union, Payroll Savings Plan or from the Treasury Department's Easy Saver Plan. You can redeem after 12 months and 3-months interest penalty is imposed within 5 years.

I Bonds: I Bonds are issued electronically and on paper, which can be purchased at face value of Denomination. I bonds are available for purchase: $50 for a bond issued on paper, or $25 for a bond purchased electronically from Treasury Direct. The maximum annual purchase is $30,000 for bonds issued on paper, and another of $30,000 bonds are issued electronically by Treasury Direct. I Bonds issued after 1 February 2003. You can redeem after 12 months and 3-month interest penalty is imposed if before 5 years.

Patriot Bonds: Patriot Bonds are simply series EE bonds which have the name “Patriot Bond" stamped on them. You can buy at maximum face value of $10,000 for Cheque and $5,000 cash-purchase value in paper EE bonds (Patriot Bonds) a year. But recently, this bond is not available for purchase.

U.S. Savings Bond Calculator

Use the Saving Bond Calculator from http://www.treasurydirect.gov, the calculator will price Series EE, E, I bonds, and Savings Notes.

Feature of the U.S. Savings Bond Calculator

• Current interest rate
• Next accrual date
• Final maturity date
• Year-to-date interest earned

How to use the U.S. Savings Bond Calculator?

Open the www.treasurydirect.gov site, and click son aving U.S. Savings Bond Calculator, which is given on right side bottom on this site, after then click on get 'Get Started' link on the Savings Bond Calculator home page. Once open, choose the series and denomination of your bond from the series and denomination drop down boxes. And enter the issue date which is printed on the bond. (Enter two digit months (e.g. 01, 12) and four-digit years (e.g. 1985 or 2001). And click on 'Calculate' button.

You can also get the information about values of your bonds, if you find what your bond is worth today then use the above process and if you find what your bond was worth in the past or will be worth in the near future, then follow the below process.

• Change the 'Value as of' date at the top of the calculator to the desired date. And click on “Update”
• Your record will inform to show the values or your bonds as of the date you enter.
• The Calculator can show you what your bonds were worth from 01/1996 through the current rate period.

Following parameter should be known before using the US Savings Bond Calculator.

• Serial Number, ‘Value as of’ Date, Series, Denomination, Issue Date, Bonds, Total Price, Total Interest, Total Value, Year-to-Date Interest, Issue Price, Interest, Value, Interest Rate, Next Accrual Date, Final Maturity Date

Individual information of above parameter is given at www.treasurydirect.gov.

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