I Bonds Set To Pay 9.62% Through October 2022
We've recently highlighted the potential benefits of I Bonds in lessening the bite of rising inflation on your savings. I Bonds, issued by the U.S. Treasury, earn a fixed interest rate plus a variable interest inflation rate that’s adjusted twice a year.
The most recent adjustment to the inflation-linked component of I Bonds came at the beginning of May when the Treasury Department announced a record yield of 9.62%, the highest since their inception in 1998.
The bonds have specified purchase limits, restrictions, and tax treatments, so they generally only play a limited role in your financial picture but they certainly offer attractive benefits.
If you have money parked in cash deposit accounts and do not have a need for the money in the next 12 months then you should consider taking advantage of the current I Bond rates.
Reach out if you have questions about I Bonds, want to quantify the benefit to you or need assistance with opening an account.
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