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The interest rate on a Series I savings bond changes every 6 months, based on inflation. The rate can go up. The rate can go down. I bonds earn interest until the first of these events: You cash in the bond or the bond reaches 30 years old.
The U.S. Treasury announced today that I bonds purchased between May and October this year will earn 4.28% for their first six months. If you already own I bonds, however, your next six-month...
How does an I bond earn interest? 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.
For I bonds issued between May 1, 2024 and Oct. 31, 2024, the fixed interest rate is 1.3%. A second interest component is based on inflation rates, and it resets every six months. It most...
I bonds are a type of U.S. bond whose interest rate adjusts every six months to protect its purchasing power from inflation. They are currently paying interest rates of 4.28%.
The actual rate of interest for an I bond is a combination of the fixed rate and the inflation rate. The combined rate can, and usually does, change every 6 months. I bonds protect you from inflation because when inflation increases, the combined rate increases.
U.S. Treasury announces new I bond rate. If you’re wondering what the buzz around I bonds is, the answer lies in their interest rate. The current I bond composite rate is 4.28%.
The interest rate on I bonds changes every six months, and with the latest inflation reading now released, we can calculate what the next rate will be on existing I bonds.
I Bonds Interest History Rate Chart. What have fixed and inflation rates been in the past? Source: TreasuryDirect. Hide full rates table. Download as CSV file Open in Google Sheeets. Future Rate Prediction: What Rates will be Announced in the Future? (Last Updated: Oct 31, 2023)
The U.S. Department of the Treasury on Tuesday announced Series I bonds will pay 6.89% annual interest through April 2023, down from the 9.62% yearly rate offered since May. It’s the...