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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?
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 ...
Series I savings bonds, or I bonds, are issued by the Treasury Department and offer a way for people to save money that is protected from inflation. This helps protect the purchasing power of your...
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]
Find out how the I bonds current rate of 3.11% impacts returns for both new and current investors in today’s inflation environment.
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]
I Bonds haven't had a fixed rate above 1% since 2007 but they do now. What's the new interest rate for I Bonds bought from November through April?
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 ...