Thanks to rising inflation, Series I savings bonds have enjoyed a boom in popularity.

Although savings bonds can earn interest for up to 30 years, you may want to redeem them earlier. You can cash in I bonds, as well as EE bonds, after you’ve owned them for a year. But if you redeem bonds within five years, you’ll lose the last three months of interest.

Here are the steps you need to take if you’re ready to cash in your savings bonds.

Determine the value of your bonds. Before you cash in your bonds, find out how much they are worth. Go to www.treasurydirect.gov and log in to your account. There you’ll find a list of securities you own and their current value. 

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