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Home Bank Promotions

Treasury Direct Announces Series I Bonds Rate of 6.89%

Tony Jay by Tony Jay
December 17, 2022 10:31 pm CST
in Bank Promotions, Banking, Investing
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Series I savings bonds will earn a composite rate of 6.89% for November 2022 through April 2023, a portion of which is indexed to inflation every six months.

  • Update 12/17/2022: The last opportunity to buy I Bonds for your 2022 allotment will be on Thursday December 29th. After that, you can begin buying for your $10,000 allotment for 2023.

Offer Details

Rates for savings bonds are set each May 1 and November 1. Interest accrues monthly and compounds semiannually. Bonds held less than five years are subject to a three-month interest penalty.

  • The composite rate for Series I Savings Bonds is a combination of a fixed rate, which applies for the 30-year life of the bond, and the semiannual inflation rate.
  • The 6.89% composite rate for I bonds bought from November 2022 through April 2023 applies for the first six months after the issue date.
  • The composite rate combines a 0.40’% fixed rate of return with the 6.48% annualized rate of inflation as measured by the Consumer Price Index for all Urban Consumers (CPI-U). 
  • The CPI-U increased from 287.504 in March 2022 to 296.808 in September 2022, a six-month change of 3.24%.
OFFER LINK

Bottom Line

Also announced is a fixed rate of .40% for I Bonds.

If you buy I Bonds now you’ll get a 6.89% return. The 6.48% rate is the “annualized rate” which changes twice per year and the .40% rate is the “fixed rate” which doesn’t change and gets added on top.

The fixed rate continues for the entire 30-year term of the I Bonds. Someone can buy I Bonds anytime from November 2022 through April 2023 and get an extra .40% return on these I Bonds purchased for the next 30 years.

This fixed .40% is interesting for those who have not yet purchased their 2022 $10,000 limit. It’s something to consider if you plan on purchasing an additional $10,000 in I Bonds when the annual limit resets in January 2023.

READ MORE: SEE THE BEST BANK BONUSES HERE AND THE BEST INVESTING BONUSES HERE.

Tags: i bonds
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Tony Jay

Tony Jay

Hey there! I'm Tony, a personal finance enthusiast.

If you're looking to maximize your savings, I've got you covered. From exclusive banking promotions and investing bonuses, to exciting credit card offers, I'll keep you in the loop on the hottest deals in town.

Join me here at MoneysMyLife and let's embark on this adventure together. Contact me here.

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