I Bonds for next year?
I took your advice and purchased $10,000 in I Bonds. My question is am I limited to this purchase only or can I purchase more, say in 2023?
Terry Says
Yes, in January of 2023 you will be entitled to purchase another $10,000 of bonds in your same account. You will receive the current rate of 6.89% for 6 months. Then after that a new rate (to be announced May 1, 2023) will apply for the following 6 months.
Remember, you MUST hold the savings bonds for one full year — even if the May rate is disappointing and lower (because inflation declines). AND, you must hold the bonds for 5 full years or face a three months loss of interest penalty for cashing them in sooner.
