Quote:
Originally Posted by rustyp
If you purchase an I bond before the end of this coming week(end of April) you will be guaranteed 7.12% interest for the first 6 months and then 9.62 % interest for the following 6 months. After that the rates of your bond changes every 6 months (may and nov) indexed to inflation. You must hold for one year. If cashed in between years 2 - 5 you forfeit the last three months interest. After 5 years no penalty. These I bonds are issued solely by the government. The only place to purchase is TreasuryDirect - Home. Google I Bonds on YOUTUBE - lots of videos at present.
|
I know that the bonds are paying 9.62 % interest and that the rates change on May 1 and November 1. Is the 9.62% from the time you buy them? Or is it from May 1? For example, if I buy one one on October 15, do I only get the 9.62% for 16 days? Or do I get the 9.62% for six months from date of purchase - whether I buy it on May 1 or October 31?