Slickdeals is community-supported.  We may get paid by brands for deals, including promoted items.
Missed This Deal? Get alerts when similar deals are posted.
  1. Deal Image
Item 1 of 3
  1. Deal Image
  2. Deal Image
  3. Deal Image
Item 1 of 3
expireddn90003 posted Dec 12, 2021 2:07 PM

US Treasury Series I Savings Bonds Inflation Rate Earnings (Nov '21 - April '22)

7.12% Interest

(Limit $10K/Year Per Person)
3,498 Comments
1.5M Views
Visit Retailer
Deal Details
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?
  • 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%

Editor's Notes

Written by BostonGirl
Refer to the forum thread here for more information and details.

Original Post

Written by dn90003
Community Notes
About the Poster
Deal Details
Community Notes
About the Poster
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?
  • 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%

Editor's Notes

Written by BostonGirl
Refer to the forum thread here for more information and details.

Original Post

Written by dn90003

Community Voting

Deal Score
+952
Good Deal
Visit Retailer

Top Comments

sdpoker
1.8KComments
463Reputation
Looks tempting. But these are only rated for inflation as fixed rate is 0%. Once inflation is back down, your rate will go down with it.
In case you're wondering, here's how the rate is computed:
Composite rate =
Go to Comment
webbiedo
4Comments
58Reputation
No, these are govt bonds. They stay in the treasury. I bonds are based on the rate of inflation. They have a fixed rate plus the current rate of inflation. Inflation goes up, you earn more. It was 3.54%. Rates went up on 11/1. To realize the full benefit you need to buy before the rates change on 5/1 and 11/1. No fees or penalties. Hold for a min.of a year. If you cash out in less than 5 years you forfeit 3 months interest. After 5 years, you don't pay anything. You can only buy $10k/yr and then up to an additional $5k if purchased directly from your tax refund.
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.
Go to Comment
foxfai
5.2KComments
3.5KReputation
By the way, using your tax refund to purchase bonds won't count toward your $10k yearly limit.

https://www.treasurydirect.gov/in...eature.htm
Go to Comment

Join The Conversation

Share your experience with the Slickdeals community

Share information with the community. Please follow our Community Guidelines and be kind!

3.5K Comments

Sign up for a Slickdeals account to remove this ad.

Dec 16, 2021 7:49 PM
943 Comments
Joined Sep 2006
dingdong123Dec 16, 2021 7:49 PM
943 Comments
Quote from practicalme :
If I initiate a bond purchase today, the pending transaction at my bank shows tomorrow, local small bank it that makes a difference.
Thanks.
Dec 16, 2021 7:51 PM
943 Comments
Joined Sep 2006
dingdong123Dec 16, 2021 7:51 PM
943 Comments
Quote from BeautifulCaribou887 :
I tried signing up and got a form requesting a medallion stamp from a certified agent.
Did you received medallion stamp request while creating account or while purchasing bonds after account creation?
Dec 16, 2021 7:51 PM
1.2K Comments
Joined Mar 2005
acegolferDec 16, 2021 7:51 PM
1.2K Comments
Quote from music_mania90 :
"When you cash out I Bonds from a Minor Linked Account for your kid, the money goes to the linked bank account. After that, you can transfer the money to a custodial account elsewhere for some other investments for your kid or spend the money on expenses that specifically benefit the kid."

What does this mean. If I am buying $10k for my kid and then I cash out before he turns 18, why can't I use the money wherever and however I want. Use thr kids money on kid- is this a moral statement or a legal one? Obviously this is all assuming that my 5yr old will not take me to court if I use this money on other things like mortgage etc. So if the kid doesn't care then should this restriction even apply?
Once you buy $10k for your kid, it's not your money any more. You are not supposed to take away kid's money.

Quote from music_mania90 :
How easy is it to cash out the I bonds. Can I just do it online and money comes in the linked bank account within 24hrs? Can I go to chase bank and rhey can just give me the cash while they are waiting for money to come in the bank from the treasury.
You redeem online and send back to the linked bank. It takes 1-2 business days for money to be available at your bank.
Dec 16, 2021 8:04 PM
6.7K Comments
Joined Mar 2004
practicalmeDec 16, 2021 8:04 PM
6.7K Comments
Quote from dingdong123 :
Thanks.
I had the same issue. I linked a bank I don't keep much in and didn't want to change it with the medallion request so I usually wait a full business day after it arrives in my linked account before initiating an I bond purchase.
Dec 16, 2021 8:56 PM
125 Comments
Joined Jun 2007
heatdolphins45Dec 16, 2021 8:56 PM
125 Comments
So if I bought a $5,000 bond in January 2022, I couldn't cash it out to pay for education until January 2023, right?

Ideally, I'd like to buy the bond in January (next month), then use it over the summer to finish grad school, if that's possible.
Dec 16, 2021 9:15 PM
2.9K Comments
Joined Jul 2009
keungDec 16, 2021 9:15 PM
2.9K Comments
Quote from heatdolphins45 :
So if I bought a $5,000 bond in January 2022, I couldn't cash it out to pay for education until January 2023, right?

Ideally, I'd like to buy the bond in January (next month), then use it over the summer to finish grad school, if that's possible.
Yes you need to keep it for 1 year, so it's a no go if you want to take it out ins summer
Dec 16, 2021 9:22 PM
2.9K Comments
Joined Jul 2009
keungDec 16, 2021 9:22 PM
2.9K Comments
Quote from kadox :
The Fed just announced three expected rate hikes, rates jumped! This should follow ?
They DID NOT announce any future rate hike
They are tapering (slowing the bond buying program), this will end in April
After that they MIGHT raise interest rate 3 times in 2022 (based on the dot plot).


Sign up for a Slickdeals account to remove this ad.

Dec 16, 2021 9:27 PM
1.8K Comments
Joined Dec 2006
supa2001Dec 16, 2021 9:27 PM
1.8K Comments
Quote from acegolfer :
Once you buy $10k for your kid, it's not your money any more. You are not supposed to take away kid's money.
Where will the money go if I redeem the kid's bond? He doesn't have a bank account.
Do I need to include his interests earned in my 1040?
Dec 16, 2021 9:30 PM
2.9K Comments
Joined Jul 2009
keungDec 16, 2021 9:30 PM
2.9K Comments
Quote from usercar007 :
I would rather put money into USDC and get 9%. Its fully back by cash and security on 1:1.

You can sell and withdraw anytime you want and no plenty like this.
It is incredible that people believe anyone who has a company and a website that claimed that investment in back by cash 1:1
THE CFTC already fined the company for false claim , their reserve is not audited,
https://www.cftc.gov/PressRoom/Pr...es/8450-21

IF you believe them you might as well believe anyone on the street who said they willl give you 9% and your $$$ will be back by some reserve
Dec 16, 2021 9:42 PM
3.3K Comments
Joined Aug 2014
shark974Dec 16, 2021 9:42 PM
3.3K Comments
just buy a stock kids. if this is pegged to govt lowball inflation books you will always lose.
Dec 16, 2021 10:12 PM
2.2K Comments
Joined Aug 2014
Cmurphy16Dec 16, 2021 10:12 PM
2.2K Comments
Quote from keung :
It is incredible that people believe anyone who has a company and a website that claimed that investment in back by cash 1:1
THE CFTC already fined the company for false claim , their reserve is not audited,
https://www.cftc.gov/PressRoom/Pr...es/8450-21

IF you believe them you might as well believe anyone on the street who said they willl give you 9% and your $$$ will be back by some reserve
Crap. You mean that dude I met on the sidewalk that I gave 10k to won't be coming back next week with my original investment plus 9%? /s
Dec 16, 2021 10:16 PM
1.2K Comments
Joined Mar 2005
acegolferDec 16, 2021 10:16 PM
1.2K Comments
Quote from supa2001 :
Where will the money go if I redeem the kid's bond? He doesn't have a bank account.
Do I need to include his interests earned in my 1040?
If the kid wants to redeem his I-bond, you redeem for him and send the money to the your linked bank. Once it arrive at your bank, give it to the kid.

No. Google "kiddie tax" for your kid's tax liability.
1
Dec 16, 2021 10:50 PM
62 Comments
Joined Jan 2007
raimarDec 16, 2021 10:50 PM
62 Comments
Interesting. I will have some college fees to pay in a year's time. Thinking of buying just enough bonds to cover it so I don't have to pay fed taxes when I sell in +1 year to cover tuition. I will still get hit with the 3 months no interest early withdrawal but better than having the money sitting in the bank after reaching the IRA 6k limit. Most predictions for the next Bond return hike seem to be below 7.12% but will still be decent.
Dec 16, 2021 10:56 PM
9.3K Comments
Joined Feb 2007
trzaDec 16, 2021 10:56 PM
9.3K Comments
Quote from shark974 :
just buy a stock kids. if this is pegged to govt lowball inflation books you will always lose.
Sometimes you don't want to put your principle at risk.

Sign up for a Slickdeals account to remove this ad.

Dec 16, 2021 10:58 PM
1.8K Comments
Joined Aug 2008
usercar007Dec 16, 2021 10:58 PM
1.8K Comments
Quote from keung :
It is incredible that people believe anyone who has a company and a website that claimed that investment in back by cash 1:1
THE CFTC already fined the company for false claim , their reserve is not audited,
https://www.cftc.gov/PressRoom/Pr...es/8450-21

IF you believe them you might as well believe anyone on the street who said they willl give you 9% and your $$$ will be back by some reserve
Quote from Cmurphy16 :
Crap. You mean that dude I met on the sidewalk that I gave 10k to won't be coming back next week with my original investment plus 9%? /s
LOL It's more incredible that people can't even read? You link to USDT which is NOT USDC. USDC reserves are attested monthly by Grant Thornton LLP.

https://www.circle.com/en/usdc
Last edited by usercar007 December 16, 2021 at 03:06 PM.

Join The Conversation

Share your experience with the Slickdeals community

Share information with the community. Please follow our Community Guidelines and be kind!

Related Searches

FinanceFinancial Tools & ServicesServicesFinancial Tools & Services