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US Treasury Series I Savings Bonds Inflation Rate Earnings (November '22 - April '23) - 6.89% Annualized for 6 months
U.S. Government Treasury is offering 6.89% Interest Rate (Annualized for 6 Months) in combined Fixed + Inflation Rate Earnings valid on newly issued Series I Savings Bonds purchased from November 2022 through April 2023. Limit of $10,000/year per person (with caveats, see prior thread for details in the discussion).
In layman's terms: These are U.S. treasury securities which adjust their interest rate every 6 months based on the current inflation rate. The calculation is more complex than that but using the CPI-U (Core CPI) from October of 6.6% YoY, an inflation interest rate of 6.47% can be derived based on the previous 6 months of inflation data, and when combined with a fixed interest rate component over which the Fed has discretion and was announced November 1, we now have the finalized rate of 6.89%.
For further details on how I-bonds work, see the previous Front Page deal when the 9.62% rate was announced. There is plenty of discussion and information there on how I-bonds work.
About this offer:
What is a Series I bond? (source)
https://www.treasurydir
In layman's terms: These are U.S. treasury securities which adjust their interest rate every 6 months based on the current inflation rate. The calculation is more complex than that but using the CPI-U (Core CPI) from October of 6.6% YoY, an inflation interest rate of 6.47% can be derived based on the previous 6 months of inflation data, and when combined with a fixed interest rate component over which the Fed has discretion and was announced November 1, we now have the finalized rate of 6.89%.
For further details on how I-bonds work, see the previous Front Page deal when the 9.62% rate was announced. There is plenty of discussion and information there on how I-bonds work.
About this offer:
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
- 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.
- An I bond earns interest monthly from the first day of the month in the issue date. The interest accrues (is added to the bond) until the bond reaches 30 years or you cash the bond, whichever comes first.
- The interest is compounded semiannually. Every six months from the bond's issue date, interest the bond earned in the six previous months is added to the bond's principal value, creating a new principal value. Interest is then earned on the new principal.
- The composite rate for I bonds issued from May 2022 through October 2022 is 9.62 percent. This rate applies for the first six months you own the bond.
- After they are 12 months old.
- If you cash an I bond before it is five years old, you will lose the last three months of interest.
- I bonds earn interest for 30 years if you don't cash the bonds before they mature.
- If you've been affected by a disaster, special provisions may apply.
https://www.treasurydir
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Last Edited by superslickz
May 1, 2023
at
05:46 PM
This post can be edited by most users to provide up-to-date information about developments of this thread based on user responses, and user findings. Feel free to add, change or remove information shown here as it becomes available. This includes new coupons, rebates, ideas, thread summary, and similar items.
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Let's keep this updated:
Current rate is 4.30% May 1, 2023 to October 31, 2023.
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Let's keep this updated:
Current rate is 4.30% May 1, 2023 to October 31, 2023.
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1 year government T bill @ 4.4% federal tax only. No limit and can buy from schwab, fidelity
1 year government T bill @ 4.4% federal tax only. No limit and can buy from schwab, fidelity
Great tip. Shorter duration rates also available from 3-4% via various brokers and TreasuryDirect.
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By that argument you should merge the thread you linked with the thread from the 6 months prior to that. A new rate and period, especially straddling the yearly contribution limits, deserves its own thread.
Yeah good luck fighting the Fed.
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1 year government T bill @ 4.4% federal tax only. No limit and can buy from schwab, fidelity