Series I Savings Bonds
NEWS: The initial interest rate on new Series I savings bonds is 9.62 percent. You can buy I bonds at that rate through October 2022.
NOTE: Tax questions? We have answers!
Series I savings bonds are a low-risk savings product. During their lifetime they earn interest and are protected from inflation. You may purchase:
With a TreasuryDirect account, you can purchase, manage, and redeem I bonds directly from your web browser.
Use Series I bonds to:
- Finance education
- Supplement retirement income
- Give as a gift
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| Current rate: | 9.62% for bonds issued May - October 2022 |
| Minimum purchase: | Electronic bond: $25 Paper bond: $50 |
| Maximum purchase (per calendar year): |
Electronic bonds: $10,000 Paper bonds: $5,000 |
| Denominations: | Paper bonds: $50, $100, $200, $500, $1,000 Electronic bonds: $25 and above, in penny increments |
| Issue method: | Electronic bonds: Online in TreasuryDirect Paper bonds: By mail after you buy with your tax refund |
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Rates & Terms
- I bonds have an annual interest rate derived from a fixed rate and a semiannual inflation rate.
- Interest, if any, is added to the bond monthly and is paid when you cash the bond.
- I bonds are sold at face value; i.e., you pay $50 for a $50 bond.
Redemption Information
- Minimum term of ownership: 1 year
- Interest-earning period: 30 years or until you cash them, whichever comes first
- Early redemption penalties:
- Before 5 years, forfeit interest from the previous 3 months
- After 5 years, no penalty
Tax Considerations
- Savings bonds are exempt from taxation by any State or political subdivision of a State, except for estate or inheritance taxes.
- Interest earnings are subject to Federal income tax.
- Interest earnings may be excluded from Federal income tax when used to finance education (see education tax exclusions).
I Bond-Related FAQs
- How is the earnings rate of an I bond determined?
- What is the difference between EE and I bonds?
- Are there tax benefits to using I bonds to finance education?
- Can I give an I bond as a gift?
- Can I ever lose money in I bonds?
