How to calculate I-bond interest rate
I-bond term is 6 mos at 6.7%. If you renew for an additional 6 mos are you then getting an additional 6.7% which would be over 13% per year?
Terry Says
NOPE!! That would be too good to be true! You get the current rate for 6 months from the date you purchase the bond. Then the rate that will be set on May 1st will apply to the next 6 months. And so on.