Series EE savings bonds issued May 2024 through October 2024 will earn an annual fixed rate of 2.70% and Series I savings bonds will earn a composite rate of 4.28%, a portion of which is indexed to inflation every six months. The EE bond fixed rate applies to a bond’s 20-year original maturity. Bonds of both series have an interest-bearing life of 30 years.
Rates for savings bonds are set each May 1 and November 1. Interest accrues monthly and compounds semiannually. Bonds held less than five years are subject to a three-month interest penalty.
I Bond Composite Rate of 4.28% includes a Fixed Rate of 1.30%
The composite rate for Series I Savings Bonds is a combination of a fixed rate, which applies for the 30-year life of the bond, and the semiannual inflation rate. The 4.28% composite rate for I bonds issued from May 2024 through October 2024 applies for the first six months after the issue date. The composite rate combines a 1.30% fixed rate of return with the 2.96% annualized rate of inflation as measured by the Consumer Price Index for all Urban Consumers (CPI-U). The CPI-U increased from 307.789 in September 2023 to 312.332 in March 2024, a six-month change of 1.48%.
Series EE bonds issued from May 2024 through October 2024 earn today’s announced rate of 2.70%. All Series EE bonds issued since May 2005 earn a fixed rate in the first 20 years after issue. At 20 years, the bonds will be worth at least two times their purchase price. The bonds will continue to earn interest at their original fixed rate for an additional 10 years unless new terms and conditions are announced before the final 10-year period begins.
Series EE Bonds Issued from May 1997 through April 2005
Series EE bonds issued from May 1997 through April 2005 continue to earn market-based interest rates set at 90% of the average 5-year Treasury securities yields for the preceding six months. The new interest rate for these bonds, effective as the bonds enter semiannual interest periods from May 2024 through October 2024 is 3.81%. Market-based rates are updated each May 1 and November 1.
Series EE Bonds Issued Before May 1997
Series EE bonds issued before May 1997 earn various rates for semiannual earnings periods, depending on the issue dates. Please visit www.treasurydirect.gov for details and current values.
Savings Bonds Over 30 Years Have Stopped Earning Interest
All Series E savings bonds have matured and stopped earning interest. Series EE bonds issued from January 1980 through May 1994 are no longer earning interest. Series EE bonds issued from June 1994 through October 1994 will stop earning interest during the next six months.
More Information
Electronic Series EE and Series I savings bonds may be bought in TreasuryDirect®, a secure, web-based system operated by Treasury since 2002. Owners of paper savings bonds can continue to redeem them at some financial institutions. Paper Series EE and Series I Bonds can only be reissued in electronic form in TreasuryDirect.
Series I paper savings bonds remain available for purchase using part or all of a federal income tax refund. For more information on this feature, visit www.irs.gov.
To find more information on savings bonds and which ones are still earning interest, visit Fiscal Service’s website www.treasurydirect.gov.
Bondholders may also visit TreasuryHunt.govand conduct a simple search to see if they own any savings bonds.
The Savings Bond Calculator tool, which is helpful for calculating redemption values can also be found on the site. The website provides information and instructions for opening an online account to buy electronic savings bonds and Treasury marketable securities: bills, notes, bonds, Floating Rate Notes (FRNs), and Treasury Inflation Protected Securities (TIPS).
TreasuryDirect® is a registered mark of the U.S. Department of the Treasury.
Series EE savings bonds issued May 2024 through October 2024 will earn an annual fixed rate of 2.70% and Series I savings bonds will earn a composite rate of 4.28%, a portion of which is indexed to inflation every six months. The EE bond
EE bond
Series EE savings bonds are a low-risk way to save money. They earn interest regularly for 30 years (or until you cash them if you do that before 30 years). For EE bonds you buy now, we guarantee that the bond will double in value in 20 years, even if we have to add money at 20 years to make that happen.
For I bonds issued between May 1, 2024 and Oct. 31, 2024, the fixed interest rate is 1.3%. A second interest component is based on inflation rates, and it resets every six months. It most recently reset in May and is currently 2.96%, down from 3.94% last November.
EE bonds earn interest regularly for 30 years or until you cash them. The interest rate for EE bonds issued between May 1, 2024, and Oct. 31, 2024, is 2.70%. But if you hold an EE bond for 20 years, it's guaranteed to double in value.
Series EE savings bonds are a low-risk way to save money. They earn interest regularly for 30 years (or until you cash them if you do that before 30 years). For EE bonds you buy now, we guarantee that the bond will double in value in 20 years, even if we have to add money at 20 years to make that happen.
The current composite I bond rate is 4.28%. This includes a 1.30% fixed rate and a 1.48% inflation rate. The current rate applies for six months to bonds purchased between May 1, 2024, and Oct. 31, 2024.
I bonds, with their inflation-adjusted return, safeguard the investor's purchasing power during periods of high inflation. On the other hand, EE Bonds offer predictable returns with a fixed-interest rate and a guaranteed doubling of value if held for 20 years.
You'll keep earning interest for an extra decade. As long as you cash in your bond at the maturity date, you can guarantee your investment will double. So, if you buy a Series EE bond today for $25, and hold it for 20 years, you can cash it in for $50.
Series EE bonds are considered ultra-safe, low-risk investments, whose interest is typically exempt from state and local taxes. However, they are subject to federal taxes, but only in the year in which the bond matures or is redeemed.
If you still have a paper EE bond, check the issue date. If that date is more than 30 years ago, it is no longer increasing in value and you may want to cash it.
EE bonds you buy now have a fixed interest rate that you know when you buy the bond. That rate remains the same for at least the first 20 years. It may change after that for the last 10 of its 30 years. We guarantee that the value of your new EE bond at 20 years will be double what you paid for it.
Bonds are typically longer, higher-risk investments that deliver greater returns and a predictable income. Bonds are also more liquid than CDs because you can buy or sell them on the secondary market—although some bonds may be harder to sell than others.
After 30 years, the bond no longer earns interest. The current rate on Series EE bonds is 2.70%. “Better rates are available on CDs or Treasury bonds purchased in the open market, whether short term or out as far as 30 years,” Hackmann said.
The interest on EE bonds isn't taxed as it accrues unless the owner elects to have it taxed annually. If an election is made, all previously accrued but untaxed interest is also reported in the election year. In most cases, this election isn't made so bond holders receive the benefits of tax deferral.
Cons: Rates are variable, there's a lockup period and early withdrawal penalty, and there's a limit to how much you can invest. Only taxable accounts are allowed to invest in I bonds (i.e., no IRAs or 401(k) plans).
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.
If you want to keep all your good interest and get the most out of your I Bonds you should cash out: after earning 3 months of lower interest and. just after the 1st of the month.
The interest earned by purchasing and holding savings bonds is subject to federal tax at the time the bonds are redeemed. However, interest earned on savings bonds is not taxable at the state or local level.
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