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. Sorry you missed. There was quite a crunch at the end. The current rate is 6.89% for the next 6 months — still not a bad deal. You will get that rate for a full 6 months, and then a new rate to be announced in May will apply for the following 6 months. Remember, you must hold them for afull year — and there’s a 3 months interest penalty if you sell before 5 years.
