New Series I Bond Rate for May 2022 – October 2022: 9.62%!

This article has been updated to reflect the new May to November, 2022 period. Big news for savers and investors searching for the rare strong rate of return paired with low risk: the U.S. Treasury Series I Savings Bond interest rate for May, 2022 was just announced and it’s an eye-opening 9.62% APR. This is the highest I bond rate offered since their launch in 1998 and nearly triple the rate that I was overjoyed about when I first purchased an I bond and wrote about them in my I bond overview. It’s also an increase of 2.5 percentage points over the previous (October, 2021 through April, 2022) rate of 7.12%. You can buy I Bonds online at this new 9.62% rate through the end of October 2022 and you will get that rate for a 6-month period.

What’s exciting about this is that I bonds are a very safe investment with a guaranteed rate of return (for 6 months) from the U.S. Treasury. Comparatively safe bank investments, meanwhile, are coming at the following paltry rates (current…

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This article was written by G.E. Miller and originally published on 20somethingfinance.com