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What's will new rates look like beginning in May? Inflation has cooled from a recent peak of 9.1% in June 2022. I Bond rates have pulled back, too. What's will new rates look like beginning in May?
I bonds purchased in October 2022, for instance, would have earned 9.62% for six months and then 6.48% for six months. ... an additional $5,000 in paper I bonds. The interest is typically free ...
These bonds became all the rage two years ago amid soaring inflation, which pumped up the annualized rate to 7.12% in November 2021 and a record 9.62% in May 2022. The annual rate has since fallen ...
Like Series EE bonds, interest accrues monthly and is compounded to the principal semiannually. The highest the fixed rate has ever been is 3.60%, set on May 1, 2000, for bonds issued for the following six months. The highest inflation rate was 4.81%, set on May 1, 2022, for the six-month period that followed. [16]
The annual interest rate for I Bonds was 9.62% in April 2022, the highest inflation rate since this type of bond was introduced in 1998. [51] People opened 1.85 million new savings bond accounts between November 2021 and the end of June 2022. [17] In May 2022, the TreasuryDirect website crashed at least once related to increased demand. [18]
Each year, one person can only buy $10,000 in electronic I bonds and $5,000 in paper bonds. In total, this amounts to $15,000 worth of I bonds for each person per year.
Some investors may be wondering whether they can use the Series I bond in place of a 529 plan. ... including being tax-free at the state and local levels. ... from April to October 2022 — when ...
For example, if you buy an I bond on July 1, 2022, the 9.62% would be applied through December 31, 2022. Interest is compounded semi-annually. The rate also applies to older I bonds that are still ...