I BONDS

Hi Terry,
I am currently getting 4.4% from Bread Savings, (Comenity Capital Bank). It is FDIC insured and easy to access for moving money in and out of our checking account. An I Bond is paying 6.89% for now, but after six months it will switch to a lower rate. And you have to leave it in there for 5 years or face a penalty of 3 months interest. (by the way is that penalty based on the then current interest rate?). Do you think it’s worth the hassle of purchasing I Bonds when after one year my return may be the same as 4.4%? I understand that the 4.4% is subject to change as well.