I Bonds

By Terry Savage on March 05, 2024 | Chicken Money

I bought an I Bond in June of 2022. It earned 10% interest at that time. Is the money still earning interest or do I need to buy another bond? I can’t find an answer to this question on treasury direct. Thank you so much!

Terry Says

A new rate is set every 6 months for I-bonds. Your first bond didn’t earn 10% — but almost (9.62%)!
The rate for the current 6 months is a lot lower, since it is adjusted for inflation. YOu can buy more if you want, but hang on to the older one to avoid a penalty for cashing in early — 3 months loss of interest.
Read this for more: https://www.terrysavage.com/i-bonds-everything-you-must-know/



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