Series I Bond Rates Increase to 3.98% – A Guide to Purchasing
Great news for investors looking to purchase Series I bonds – the rates have risen to 3.98%! This makes them an attractive option for those looking to grow their savings over time. Here’s everything you need to know about buying Series I bonds.
What are Series I Bonds?
Series I bonds are a type of savings bond issued by the U.S. Department of the Treasury. They offer a unique combination of a fixed interest rate and an inflation rate that is adjusted semi-annually. This makes them a popular choice for investors looking to protect their savings from inflation.
How to Buy Series I Bonds
Buying Series I bonds is easy and can be done online through the TreasuryDirect website. You can purchase them in electronic form or in paper form, with a maximum purchase limit of $10,000 per calendar year for each Social Security Number.
Benefits of Series I Bonds
There are several benefits to investing in Series I bonds, including:
- Protection against inflation
- Backed by the U.S. government
- Tax advantages for education expenses
With the current interest rate of 3.98%, Series I bonds offer a competitive return compared to other savings options.
Conclusion
With Series I bond rates on the rise, now is a great time to consider adding them to your investment portfolio. Their unique combination of fixed and inflation-adjusted rates make them a solid choice for long-term savings. Visit the TreasuryDirect website today to start investing in Series I bonds!