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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