A Brief Discussion About I Bonds

07/27/2022 By Hannah Elzea

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A Brief Discussion About I Bonds

This week we are talking about I bonds, purely to educate and inform on what they are as we have been getting a lot of questions recently. Series I Savings Bonds are a government-issued bond earning interest based on a fixed rate plus a variable rate based on inflation. This savings bond is issued directly by the U.S. Treasury and cannot be held at any brokerage firm or sold at banks.

Per person maximum annual investment = $10,000 (plus $5,000 using federal income tax refund)
30-year maturity. Cannot be redeemed prior to one year. If redeemed after one year but before five years, the holder forfeits the last three months of interest.
The current variable rate (based on CPI-Consumer Price Index) on the new Series I Bond changed in May to 9.62%. This rate will be good through October.
The variable rate resets every six months.
To buy Series I Savings Bonds go to TreasuryDirect.gov . They are NOT SOLD IN OPEN MARKET, BANKS or RAYMOND JAMES.

Please refer to https://www.savingsbonds.gov for all information or to address any questions you may have.

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