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EE and I Savings Bonds: Comparing Guarantees, Inflation Features, and Access

EE and I bonds share some savings-bond features but earn interest differently. An EE bond's guarantee and an I bond's inflation-linked rate answer different concerns, while both impose restrictions on early redemption. This guide compares the products using Treasury's descriptions of earnings, limits, taxes, and ownership. It helps readers decide which features fit a savings purpose without confusing an interest-rate headline with the amount or timing of cash they can actually use.

Adapted from public-domain educational material published by U.S. Treasury. Fynoptic has organized and edited the material and added introductory and practical guidance. Sources were reviewed on October 28, 2026; original publication dates, where available, are listed below.

Comparing EE and I bonds

We currently offer 2 types of savings bonds: EE bonds and I bonds.

Use this table to see the features of both side by side.

EE bonds	I bonds
Current interest rates (for bonds you buy May 1, 2026 to October 31, 2026 )	2.40% (stays same at least 20 years)	4.26% (stays same for 6 months)
How do the bonds earn interest?	EE bonds you buy now have a fixed interest rate that you know when you buy the bond. That rate remains the same for at least the first 20 years. It may change after that for the last 10 of its 30 years. We guarantee that the value of your new EE bond at 20 years will be double what you paid for it. (If you have an EE bond from before May 2005, it may be earning interest at a variable rate. See more at EE bonds.)	I bonds earn a rate that can change every 6 months. The rate is a combination of: a fixed interest rate and an inflation rate that we calculate twice a year (November, May) We guarantee that the interest rate of an I bond will never fall below zero.
How often do the bonds for sale today earn interest?	Both EE and I savings bonds earn interest monthly. Interest is compounded semiannually, meaning that every 6 months we apply the bond’s interest rate to a new principal value. The new principal is the sum of the prior principal and the interest earned in the previous 6 months. Thus, your bond's value grows both because it earns interest and because the principal value gets bigger. EE and I bonds earn interest until the first of these events: You cash in the bond or the bond matures – reaches the end of its 30-year term. (If you cash in the bond before 5 years, you lose 3 months interest.) If you have an electronic bond, you can see what it is worth in your TreasuryDirect account. To see what your paper bond is worth, use our Savings Bond Calculator.
Must I pay tax on what the bond earns?	The tax situation is the same for both EE and I bonds. Federal income tax: Yes State and local income tax: No Federal estate, gift, and excise taxes; state estate or inheritance taxes: Yes For federal income tax, you choose whether to report earnings each year or wait to report all the earnings when the bond finishes earning interest (or when you cash it if you cash it before the end of its 30 year life). If you use the money for qualified higher education expenses, you may not have to pay tax on the earnings. See more in Tax options for EE and I savings bonds Using savings bonds money for higher education
Are the bonds electronic or on paper?	New EE bonds are electronic only. You may own paper EE bonds issued before 2012.	As of January 1, 2025, all new I bonds are electronic. You may own paper I bonds issued before 2012 that you bought at a bank or through payroll savings.
How much does an electronic bond cost?	You can buy an electronic EE or I bond for any amount from $25 to $10,000. You can specify the amount to the penny. For example, you could buy an electronic bond for $50.23.
Where do I keep electronic bonds?	In our online program, TreasuryDirect. Learn about TreasuryDirect Open a TreasuryDirect account
What's the most I can spend on EE or I bonds?	In any one calendar year for one Social Security Number, you may buy up to: $10,000 in electronic EE bonds $10,000 in electronic I bonds
How soon can I cash in the bond?	After 12 months. However, if you cash in the bond in less than 5 years, you lose the last 3 months of interest. For example, if you cash in the bond after 18 months, you get the first 15 months of interest.

Financial Institutions:

Help Customers Cash In Their Savings Bonds

View special instructions on how to cash in paper Savings Bonds that customers may bring into your bank.

Get Savings Bonds News & Updates

Savings Bond Calculator

Savings Bonds: About

When you buy a U.S. savings bond, you lend money to the U.S. government.

In turn, the government agrees to pay that much money back later - plus additional money (interest).

U. S. savings bonds are

Simple

Buy once. Earn interest for up to 30 years.

Safe

Backed by the full faith and credit of the U.S. government.

Affordable

Buy them for as little as $25.

You can buy 2 types of U. S. savings bonds

EE Bonds

Guaranteed to double in value in 20 years

Earn a fixed rate of interest

Current Rate: 2.40%

For EE bonds issued May 1, 2026 to October 31, 2026

Electronic only – keep them safe in your TreasuryDirect account

Buy for any amount from $25 up to $10,000.

Maximum purchase each calendar year: $10,000.

Can cash in after 1 year. (But if you cash before 5 years, you lose 3 months of interest.)

More about EE bonds

(Note: Older EE bonds may be different from ones we sell today.)

I Bonds

Protect against inflation. The interest rate on a particular I bond changes every 6 months, based on inflation.

Current Rate: 4.26%

This includes a fixed rate of 0.90%

For I bonds issued May 1, 2026 to October 31, 2026

Electronic only – keep them safe in your TreasuryDirect account (minimum amount $25)

Maximum purchase each calendar year: $10,000

Interest rate is calculated from a fixed rate and the inflation rate.

More about I bonds Compare EE bonds to I bonds Savings Bond Regulations Savings Bond Explainer

You may have an older bond

HH Bonds

We stopped selling HH savings bonds in 2004

But they have a 20-year life. As of August 1, 2024, all HH bonds have reached final maturity. If you have HH bonds dated with 2004, the deferred interest, if any, will be reportable to the IRS at the end of calendar year 2024, even if you did not redeem the security.

More about H/HH bonds

Other historical bonds

Since 1935, we've offered many bond series, each with its own rates and terms.

Some even funded special causes — for the Postal Service, the Armed Forces, and others.

More about historical and retired bond series Cashing in (redeeming) an old paper bond

Putting this into practice

Compare the interest formula, holding period, early-redemption rule, and tax treatment together. Check the issue-date terms for an older bond rather than applying today's terms automatically. A savings choice should fit the date you expect to need the money as well as your expectations about inflation.

Sources and further reading

Comparing EE and I bonds — U.S. Treasury
Savings Bonds: About — U.S. Treasury

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