Savings Bonds

I bonds

The interest rate on a Series I savings bond changes every 6 months, based on inflation. The rate can go up. The rate can go down.

The overall rate is calculated from a fixed rate and an inflation rate. The fixed rate never changes. The inflation rate is reset every 6 months and, therefore, so is the overall rate.

Compare I savings bonds to EE savings bonds

Compare I savings bonds to TIPS (Treasury's marketable inflation-protected security)

Current Interest Rate

Series I Savings Bonds

3.98%

This includes a fixed rate of 1.10%

For I bonds issued May 1, 2025 to October 31, 2025.

I bonds at a Glance

Electronic or paper?	As of January 1, 2025, I bonds are only available electronically. You can buy them in your TreasuryDirect account.
How does an I bond earn interest?	I savings bonds earn interest monthly. Interest is compounded semiannually, meaning that every 6 months we apply the bond’s interest rate to a new principal value. The new principal is the sum of the prior principal and the interest earned in the previous 6 months. Thus, your bond's value grows both because it earns interest and because the principal value gets bigger. We list interest rates for all I bonds ever issued in 2 ways: Matrix showing fixed rates, inflation rates, and combined rates together See rate chart (PDF) See Series I Bond Rate History Separate tables for fixed rates, inflation rates, combined rates See “I bonds interest rates”
How long does an I bond earn interest?	30 years (unless you cash it before then)
When do I get the interest on my I bond?	With a Series I savings bond, you wait to get all the money until you cash in the bond. Electronic I bonds: We pay automatically when the bond matures (if you haven’t cashed it before then). Paper I bonds: You must submit the paper bond to cash it. See Cash in (redeem) an EE or I savings bond.
Can I cash it in before 30 years?	You can cash in (redeem) your I bond after 12 months. However, if you cash in the bond in less than 5 years, you lose the last 3 months of interest. For example, if you cash in the bond after 18 months, you get the first 15 months of interest. See Cash in (redeem) an EE or I savings bond.
How do I find the value of my Series I savings bond?	If you have a Series I electronic bond, you can see what it is worth in your TreasuryDirect account. To see what your paper Series I bond is worth, use our Savings Bond Calculator.
Must I pay tax on what the bond earns?	Federal income tax: Yes State and local income tax: No Federal estate, gift, and excise taxes; state estate or inheritance taxes: Yes You choose whether to report each year's earnings or wait to report all the earnings when you get the money for the bond. If you use the money for qualified higher education expenses, you may not have to pay tax on the earnings. See more in Tax information for EE and I savings bonds Using savings bonds for higher education
How much does an I bond cost?	$25 minimum or any amount above that to the penny. For example, you could buy an I bond for $36.73.
Is there a maximum amount I can buy?	In a calendar year, one Social Security Number or one Employer Identification Number may buy: up to $10,000 in electronic I bonds, and For individual accounts, the limits apply to the Social Security Number of the first-named in the registration.