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The current 7.12% interest rate was already a record high for I Bonds, which was first made available in September 1998. Starting in May 2022, the new rate of at least 9.62% will hit an all-time record. Personally, I bought $20,000 worth of I Bonds at the end of October 2021 for myself and my significant other.Are I bonds worth purchasing?
You can safely earn far more with I Bonds, a type of savings bond issued by the U.S. Treasury, and protect against future high inflation. I Bonds are inflation-protected savings bonds, issued and guaranteed by the United States Treasury.Who can buy I bonds?
You can buy Series I bonds electronically through Treasury Direct. Paper bonds can only be purchased as part of your annual tax return. When filing your taxes, you can include an additional form to direct the IRS to issue all or part of your tax refund in the form of a Series I savings bond.Are I series savings bonds taxable?
Series I savings bonds bought before May 1 are sure to earn ... plus $5,000 in paper bonds received as part of your income tax refund. This may not sound like a lot to some investors, but the ...