Retail government bonds in the United States: how much individuals hold and what is on sale
Short answer: Individuals in the United States hold USD 145.2 billion of US savings bonds as of 31 October 2026, 0.36% of total public debt outstanding. The United States ranks eleventh by this share among the 13 countries for which an official source gives both the amount and the debt. The share fell from 3.20% at the end of 2001 to 0.49% at the end of 2021, rose to 0.55% in 2022 and was 0.39% at the end of 2025. In amounts: USD 205.2 billion at the end of 2005, the highest year-end figure since 2001, where the Treasury’s data start, USD 146.2 billion at the end of 2021 and USD 173.5 billion a year later. Of the total, Series I bonds still earning interest are USD 85.0 billion and Series EE USD 25.5 billion; USD 34.6 billion are bonds of all series that have stopped earning interest and have not been cashed yet.
How has it changed?
Share of total public debt outstanding, end of year
Share of total public debt outstanding (including intragovernmental holdings) at the end of each year. Amounts are redemption values and include matured bonds not yet cashed. Source: US Treasury, Monthly Statement of the Public Debt; calculation obrotomierz.pl. File: obieg-szereg.csv.
Every figure for the United States in the dataset
Each row is one figure as published in an official source, with what it covers. Class A is a programme sold only to individuals; class C counts all government securities that households hold, with no retail programme; class X is a broader line or one that includes deposits, so it is never added to the A rows it contains.
| Programme | What it covers | Class | Amount | As of | Share of debt |
|---|---|---|---|---|---|
| United States Savings Securities (total) | Series EE, I and HH savings bonds plus retirement plan bonds, individual retirement bonds and savings stamps; includes USD 34,627.41 million matured but not yet redeemed (23.8% of the total); unmatured USD 110,572.86 million; nonmarketable | A | 145.2 bn USD | 2026-10-31 | 0.36% |
| Series I savings bonds (unmatured) | I Bonds only, unmatured | A | 85.0 bn USD | 2026-10-31 | 0.21% |
| Series EE savings bonds (unmatured) | EE Bonds only, unmatured | A | 25.5 bn USD | 2026-10-31 | 0.06% |
| Matured savings securities not yet redeemed | matured savings securities of all series (incl. savings notes and stamps) not yet presented for payment; no longer earning interest | A | 34.6 bn USD | 2026-10-31 | 0.09% |
- United States Savings Securities (total): share of US total public debt outstanding, incl. intragovernmental holdings (MSPD); valuation: Series EE and I savings bonds and savings notes at cost plus accrued discount, Series HH bonds at face value (MSPD for October 2026, Table III, footnote 8, attached to the unmatured savings bonds; reports up to 2015 also list Series E with EE and I and Series H with HH; no separate note for matured securities).
- Series I savings bonds (unmatured): share of US total public debt outstanding, incl. intragovernmental holdings (MSPD); valuation: Series EE and I savings bonds and savings notes at cost plus accrued discount, Series HH bonds at face value (MSPD for October 2026, Table III, footnote 8, attached to the unmatured savings bonds; reports up to 2015 also list Series E with EE and I and Series H with HH; no separate note for matured securities).
- Series EE savings bonds (unmatured): share of US total public debt outstanding, incl. intragovernmental holdings (MSPD); valuation: Series EE and I savings bonds and savings notes at cost plus accrued discount, Series HH bonds at face value (MSPD for October 2026, Table III, footnote 8, attached to the unmatured savings bonds; reports up to 2015 also list Series E with EE and I and Series H with HH; no separate note for matured securities).
- Matured savings securities not yet redeemed: share of US total public debt outstanding, incl. intragovernmental holdings (MSPD); valuation: Series EE and I savings bonds and savings notes at cost plus accrued discount, Series HH bonds at face value (MSPD for October 2026, Table III, footnote 8, attached to the unmatured savings bonds; reports up to 2015 also list Series E with EE and I and Series H with HH; no separate note for matured securities).
How the United States compares
An official source gives the amount of government bonds sold to individuals in 16 countries; for 13 of them it also gives the debt, so we can compute a share. The figures are not fully comparable: each country measures its debt differently, and the class column above says what the amount covers.
| Country | Amount | As of | Share of debt |
|---|---|---|---|
| Hungary | 12,542.1 bn HUF | 2026-09-30 | 18.51% |
| Portugal | 45.4 bn EUR | 2026-09-30 | 14.44% |
| Poland | 194.4 bn PLN | 2026-08-31 | 8.64% |
| Ireland | 19.4 bn EUR | 2025-12-31 | 8.36% |
| Italy | 112.6 bn EUR | 2026-09-30 | 4.16% |
| Czechia | 130.7 bn CZK | 2026-09-30 | 3.53% |
| Latvia | 503 m EUR | 2026-09-30 | 2.20% |
| Spain | 26.0 bn EUR | 2026-08-31 | 1.73% |
| Austria | 5.4 bn EUR | 2025-12-31 | 1.73% |
| South Africa | 21.9 bn ZAR | 2025-03-31 | 0.43% |
| United States | 145.2 bn USD | 2026-10-31 | 0.36% |
| Belgium | 1.6 bn EUR | 2026-06-30 | 0.29% |
| Canada | under 0.05 bn CAD | 2025-03-31 | 0.00% |
| United Kingdom | 139.6 bn GBP | 2026-03-31 | not given |
| Singapore | 20.2 bn SGD | 2026-11-02 | not given |
| Brazil | 279.3 bn BRL | 2026-09-30 | not given |
What is on sale today
- I Bonds (inflation + margin)
- EE Bonds (fixed)
Sales: continuously; I Bonds since Sep 1998. We checked this on the issuer’s page, treasurydirect.gov, on 25 October 2026.
Margin over inflation
I Bonds pay inflation (CPI-U, adjusted every six months) plus a fixed rate that is set for each six-month sales window and stays with the bond for its 30 years. Bonds bought from November 2026 get a fixed rate of 1.40%. The highest fixed rate since September 1998 was 3.60% (May 2000); in 16 of the 58 windows it was 0%, most recently for bonds bought from May 2022 to the end of that window. The table shows the latest windows; all are in marze.csv.
| Series | On sale from | Matures | Margin over inflation (CPI-U) |
|---|---|---|---|
| I Bond | 1 November 2026 | after 30 years | 1.40% |
| I Bond | 1 May 2026 | after 30 years | 0.90% |
| I Bond | 1 November 2025 | after 30 years | 0.90% |
| I Bond | 1 May 2025 | after 30 years | 1.10% |
| I Bond | 1 November 2024 | after 30 years | 1.20% |
| I Bond | 1 May 2024 | after 30 years | 1.30% |
| I Bond | 1 November 2023 | after 30 years | 1.30% |
| I Bond | 1 May 2023 | after 30 years | 0.90% |
| I Bond | 1 November 2022 | after 30 years | 0.40% |
| I Bond | 1 May 2022 | after 30 years | 0.00% |
| I Bond | 1 November 2021 | after 30 years | 0.00% |
| I Bond | 1 May 2021 | after 30 years | 0.00% |
Source: the issuer’s documents for each series. File: marze.csv.
Sources
- US Treasury, Bureau of the Fiscal Service: Monthly Statement of the Public Debt, Table 1 (API mspd_table_1) (read on 7 November 2026)
- US Treasury, Bureau of the Fiscal Service: Monthly Statement of the Public Debt, Table 3 nonmarketable detail (API mspd_table_3_nonmarket) (read on 7 November 2026)
- Issuer’s page for individuals: https://www.treasurydirect.gov/savings-bonds/ (checked on 25 October 2026)
Data and citation
Every number on this page comes from our open dataset on government savings bonds for individuals in 195 countries (CC BY 4.0, DOI 10.5281/zenodo.23638786 for all versions; the citation below gives the DOI of this version). Files for the United States and the other countries: obieg.csv, obieg-szereg.csv, obieg-zrodla.csv, produkty.csv and marze.csv (column names in Polish, described on the dataset page).
Błażewski, R. (2026). Government savings bonds for individuals in 195 countries (version 2026-11-13) [Data set]. obrotomierz.pl. https://doi.org/10.5281/zenodo.24168443
Frequently asked questions
How much do individuals hold in the United States’ retail government bonds?
Individuals in the United States hold USD 145.2 billion of US savings bonds as of 31 October 2026, 0.36% of total public debt outstanding. The United States ranks eleventh by this share among the 13 countries for which an official source gives both the amount and the debt. The share fell from 3.20% at the end of 2001 to 0.49% at the end of 2021, rose to 0.55% in 2022 and was 0.39% at the end of 2025. In amounts: USD 205.2 billion at the end of 2005, the highest year-end figure since 2001, where the Treasury’s data start, USD 146.2 billion at the end of 2021 and USD 173.5 billion a year later. Of the total, Series I bonds still earning interest are USD 85.0 billion and Series EE USD 25.5 billion; USD 34.6 billion are bonds of all series that have stopped earning interest and have not been cashed yet.
Can individuals buy government bonds directly in the United States?
Yes. The United States sells I Bonds (inflation + margin) and EE Bonds (fixed). Sales: continuously; I Bonds since Sep 1998. The issuer’s page is treasurydirect.gov.
What margin over inflation do the United States’ retail bonds pay?
I Bonds pay inflation (CPI-U, adjusted every six months) plus a fixed rate that is set for each six-month sales window and stays with the bond for its 30 years. Bonds bought from November 2026 get a fixed rate of 1.40%. The highest fixed rate since September 1998 was 3.60% (May 2000); in 16 of the 58 windows it was 0%, most recently for bonds bought from May 2022 to the end of that window. The table shows the latest windows; all are in marze.csv.
Other countries
- Retail government bonds in Hungary
- Retail government bonds in Portugal
- Retail government bonds in Ireland
- Retail government bonds in Italy
- Retail government bonds in South Africa
- Retail government bonds in Czechia
- Retail government bonds in Austria
- Retail government bonds in the United Kingdom
- Retail government bonds in Spain
- What all 195 countries sell to individuals
By Rafał Błażewski, obrotomierz.pl. Amounts and debt figures as published in the official sources listed above; shares calculated by us. We show who sells what and do not recommend any product; we earn nothing from government bonds.