IBond Questions
Thank you for helping everyone! I tune in all the time.
I bought the Ibond. I understand the rate is 7% but in May, does it reset? So in May, the next 6 months after than might earn me anything from zero to anything. Just wanted see if that is correct. I thought it would always be at least 7% and it would only go up but i have a feeling I read that wrong.
Thank you!
Terry Says
The “base rate” on the current Series I bonds is ZERO. A new interest rate will be applied in May. Inflation is running pretty hot right now, so you will likely get far above zero. But you will face that change every six months. And you must hold that bond at least one year, and if you sell it before 5 years you will face a 3 months loss of interest.
