Note: This popular deal is still available.
U.S, Government Treasury is currently offering
7.12% Interest Rate in combined
Fixed + Inflation Rate Earnings valid on newly issued
Series I Savings Bonds purchased from November 2021 through April 2022. Limit of $10,000 / year in interest earnings per person.
Thanks to community member
dn90003 for sharing this offer.
About this offer:- How do I buy a Series I bond?
- Must register or sign-in to your free TreasuryDirect.gov account and link a bank account.
- Click here to view a Guided Tour
- What is a Series I bond? (source)
- "A savings bond that earns interest based on combining a fixed rate and an inflation rate."
- You may use Series I bonds to:
- Save in a low-risk product that helps protect your savings from inflation
- Supplement your retirement income
- Give as a gift
- Pay for education
- Click here for more information about Series I Bonds
- What interest does a Series I bond earn? (source)
- A combination of a fixed rate that stays the same for the life of the bond and an inflation rate that is set twice a year.
- For bonds issued from November 2021 through April 2022, the combined rate is 7.12%
Top Comments
In case you're wondering, here's how the rate is computed:
Composite rate =
I bought $10k in denominations of 2,3, 5 so if I want to cash out I can do it in chunks instead of having to cash out $10k.: Better than any CD or bank rate if you want to stay in cash.
https://www.treasurydir
3,499 Comments
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7% on a tbill?! Causes me to really worry about inflation!
That said, 7%? When did that happen in an era of near-0% prime rates?
&
"I bonds earn a rate derived from: a fixed rate of return known when you buy the bond, and an inflation rate that we calculate twice a year."
&
"If you redeem an I bond within the first 5 years, you'll lose your last 3 months interest."
Also:
"The annual interest rate for EE bonds issued from November 2021 through April 2022 is 0.10%. Regardless of the rate, at 20 years the bond will be worth twice what you pay for it. If you keep the bond that long, we will make a one-time adjustment then to fulfill this guarantee."
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I bought $10k in denominations of 2,3, 5 so if I want to cash out I can do it in chunks instead of having to cash out $10k.: Better than any CD or bank rate if you want to stay in cash.
Also, (please confirm), but I think you need to hold for a year and then you'd take a 3 -month penalty for cashing out early
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Also, (please confirm), but I think you need to hold for a year and then you'd take a 3 -month penalty for cashing out early
I bought $10k in denominations of 2,3, 5 so if I want to cash out I can do it in chunks instead of having to cash out $10k.: Better than any CD or bank rate if you want to stay in cash.
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1. Tax deferral. You pay tax when you redeem (default choice), not every year. But you can elect to pay as interest is accrued each year.
2. No state income tax.
3. There are some eligible expenses (e.g. kid's college) that waive tax.
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Good luck on getting the money back out if you need it.
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