Semiannual interest rate periods are the 6-month periods beginning on the date of issue. The rate announced in May reflects average market yields during the preceding November through April, and the rate announced in November reflects average market yields during the preceding May through October. Since the interest rate for Series EE bonds is a market-based, variable rate, there is no way to predict with certainty when a bond will reach face value. Interest accrues on the first day of each month, beginning with the fourth month from the date of issue. The redemption value of a bond does not change between these monthly accrual dates.
Interest is paid when the bonds are redeemed.
Bonds cease to earn interest at final maturity. Series EE bonds can be exchanged for Series HH bonds, and the income tax deferral privilege, discussed below, can be continued. If you want to know the current accrual value of a specific Series EE bond or to calculate the value of your savings bond holdings, see the Savings Bond Wizard . Series EE bonds are issued on demand and are dated the first day of the month in which the issue price is received by an authorized issuing agent. Series EE bonds are issued only in registered physical form and are not transferable.