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%
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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
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https://www.bls.gov/news.release/cpi.nr0.htm
https://www.bls.gov/news.release/cpi.nr0.htm
At that time, yoy inflation rate was 5.4%. Otoh, it increased to 6.8% in 11/2021 release. If this continues (not speculating), we may have more than 7.12% rate next May.
this is the quote from the site: "Log in to TreasuryDirect and use the link for cashing securities in ManageDirect." no further instructions, and im not willing to waste time logging in, which is a hassle in itself.
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this is the quote from the site: "Log in to TreasuryDirect and use the link for cashing securities in ManageDirect." no further instructions, and im not willing to waste time logging in, which is a hassle in itself.
How do I redeem savings bonds being held in my TreasuryDirect account?
Note: United States Savings Bonds must be held for a minimum of one year from their issue date before they are eligible to be redeemed.
Log into your primary TreasuryDirect® account.
Click the ManageDirect® tab at the top of the page.
Under the heading Manage My Securities, click "Redeem securities".
On the Redemption page, choose the button beside the security type you want to redeem and click "Submit".
On the Summary page, check the box beside each security that you want to redeem and click "Select". You may select up to 50 securities per redemption transaction.
The process from here differs depending on whether you have selected one or more than one security for redemption:
If more than one security was selected for redemption, you will see the Multiple Redemption Request page. If redeeming more than one security, the full amount must be redeemed to the same financial institution.
If only one security was selected for redemption, you will see the Redemption Request page. On this page, either leave the default button selected for Redeem full amount or select the button for Redeem partial amount and enter the desired amount. (Note: In a partial redemption, you must redeem at least $25 and leave a value of $25 in the security.)
From the drop-down box, select the destination (bank account or C of I) you would like to credit with the proceeds.
Click "Review" on the Redemption Request or the Multiple Redemption Request page.
The Redemption Review or Multiple Redemption Review page is then displayed. If any information needs to be changed, click "Edit" and make the changes. Otherwise, click "Submit".
A Redemption Confirmation or Multiple Redemption Confirmation page will be displayed to signify completion of the request. You may wish to print a copy of this page for your records.
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The bonds I bought in 2003 are paying 1.1% fixed on top of the inflation rate of 7.12%, so 8.32%. I never intended to hold the 2003 bonds this long. They were attractive because CD rates were so low and the treasury would let you buy them with a cash back credit card and no additional fee. Getting 2% cash back up front made them much better than any CD at the time. Rates have never gone back up enough to justify selling them.
When you file your 2021 taxes and have a refund, you file the form with your return to have the refund processed as bonds.
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.
You can cash your Series I bonds any time after 12 months. You receive the original purchase price plus interest earnings. I bonds are meant to be longer-term investments; if you redeem an I bond within the first 5 years, you'll lose your last 3 months interest. For example, if you redeem an I bond after 18 months, you'll receive the first 15 months of interest.
https://www.treasurydir
And it most likely will drop to .1% not 1%... WOW.
Now for your math lesson.
$10K @6 months = $356
Less: 3 months of interest... $178.
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