MickinMD ★ Posted November 2, 2022 Share #1 Posted November 2, 2022 The I-Bonds that began being issued on Nov. 1 and through April 30 with get a 6.48% annual interest rate for 6 months plus a 0.4% fixed annual rate that stays with the bonds for up to 30 years. That means these bonds will always pay 0.4% more than inflation. This is a big deal. The fixed rate for I-Bonds has been 0% most of the time, 0.1% to 0.2% on occasion, and more than that about once every several years. It's supposed to be an adjustment for the difference between the CPI-U inflation rate and factors that made it lower than it normally would be. The actual formula for the annual rate is 2 x 3.24% + 0.4% + 0.004 x 3.24% = 6.48% + 0.4% + 0.01296% = 6.89296% which rounds to 6.89. So you actually get a little more than the 0.4% fixed rate added to inflation. I have an I-bond with a 0.5% fixed rate and I'm getting 10.14%, instead of 9.62% until it's 6 month anniversary, when it will drop to 7.00% instead of 6.48%. So today's bonds with the 0.4% fixed rate are good to get if you're thinking of I-Bonds. Link to comment Share on other sites More sharing options...
JerrySTL ★ Posted November 2, 2022 Share #2 Posted November 2, 2022 I have $3,000 face value of Series I bonds that I bought in February 2018. I got them as part of my Federal tax return for 2017. Last I checked they are getting 7.72% interest. I have $1,450 face value of Series EE bonds that I bought between 2002 and 2007. They are now worth more than their face value. Link to comment Share on other sites More sharing options...
Scrapr ★ Posted November 2, 2022 Share #3 Posted November 2, 2022 Grandma bought son Savings bonds for Christmas every year. I have a 2 inch stack in the Safe deposit box. I "think" they are 30 year bonds. Can I cash them in for son? How do I do that? Might be $30k(?) there? Link to comment Share on other sites More sharing options...
MickinMD ★ Posted November 2, 2022 Author Share #4 Posted November 2, 2022 3 hours ago, Scrapr said: Grandma bought son Savings bonds for Christmas every year. I have a 2 inch stack in the Safe deposit box. I "think" they are 30 year bonds. Can I cash them in for son? How do I do that? Might be $30k(?) there? I'm sure you can cash them in - try Googling it. Personally, I do everything online and my bonds are stored online and accessible at treasurydirect.gov. Link to comment Share on other sites More sharing options...
a bunch of numbers Posted November 2, 2022 Share #5 Posted November 2, 2022 I cashed some in a while back. I want to say I just took them to where I bank locally, but I'm not positive about that. Link to comment Share on other sites More sharing options...
Scrapr ★ Posted November 2, 2022 Share #6 Posted November 2, 2022 2 hours ago, MickinMD said: I'm sure you can cash them in - try Googling it. Personally, I do everything online and my bonds are stored online and accessible at treasurydirect.gov. I think you can take them in. 30 years ago online was not a thing. And there is a big enough pile I don't really want to enter them in treasury.gov site one at a time. I'd like to know any particular order to cash them. As I understand it they are taxable on the value minus principle. So dumping them all at one time might bring a good big tax bill. May talk to da bank Link to comment Share on other sites More sharing options...
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