I-Bond purchase
Terry, I was attempting to purchase I-Bonds last month but never received the code from the Treasury Department after I submitted the request. I had already successfully completed the application twice that day for myself and our trust. When I did it for my wife, I never received the code via email. My wife thought that she recently heard you say something on WGN about possibly still being able to lock in the higher interest rate that ended in October. Is that true?
Terry Says
No, and sorry you were caught in the crunch. It happened to many people with a “hotmail” email address,since their servers rejected Treasury’s emails with account numbers.
You can still buy I-bonds, but the current rate is 6.89%. You’ll get that for 6 months, and there will be a new rate announced in May for the subsequent 6 months. Remember you MUST hold I-bonds for one year, and you will lose 3 months interest if you cash them in before 5 years.
