i bonds and t bills
Terry, I bought a $10,000 i-bond and $500 in t-bills. I was told that I won’t know the interest rate for over a week. Don’t understand that. I’m the 80-year old “pest”.
Terry Says
Savings bonds rates are announced in advance — and the variable rate lasts 6 months.
With Treasury bill purchases, your purchase is made at the next weekly auction — and you agree to accept the “average” rate determined at the auction by big global purchasers such as central banks and financial institutions.
That rate is announced late in the day on Monday, but you have to submit your purchase application by early morning the week of the auction.
Typically rates don’t change much during any one day, and you can check the current 6-month T-bill rate under “bonds” at www.cnbc.com.
