I-Bonds interest rates
The bottom line question I would like to have answered is when or how do you keep track of I-bond interest rates? I thought they were issued bi-annually (May 1 and Nov. 1). I purchased an I-bond (purchase date 5-26-22 with a rate of 9.62%). On 11-1-22 I checked the rate and it went to 6.49%. Ok still good. On 6-25-23 checked the rate and it went to 3.38% now not good at all. I have tried to navigate Tres. Direct to find the interest rates and when they are issued. I’ve had no luck. I’m seriously considering taking the 3 month withdrawal hit at 3.38% and going to my bank for 5.3% CD for 13 months. I would just like to be able to time the move.
Terry Says
Well, you’re missing the entire idea of Savings Bonds!! You buy them and plan to hold them for at least 5 years, to avoid the penalty. And the money grows and compounds tax deferred. It all builds up, changes every 6 months, and is paid out (and taxable) when you cash them in.
It’s your choice to get out and take the penalty, but please read this first:
https://www.terrysavage.com/i-bonds-everything-you-must-know/
