Series I bonds will pay 4.26% through October 2026, the U.S. Department of the Treasury announced.
The latest I bond rate is up from the 4.03% rate offered through April.
Current I bond owners will see rates adjust based on their purchase date.
The new rate includes a variable portion of 3.34%, based on inflation data, and a fixed portion of 0.90%. The combined rate is 4.26% after rounding, according to the Treasury.
I Bonds have a 5 year full maturity and can be held for 30 years, you can cash out early after 12 months with a 3 months interest penalty. Earnings are subject to Federal Tax, exempt from state and local income tax. Earnings are deferred until you cash out the bond.
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www.treasurydirect.com
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