# Series I U.S. savings bonds are paying 7.12% \[update - now 6.89%\]\[Down to 5.27% Mar2023\] **URL:** \ **Category:** Miscellaneous and Personal Stuff I Must Share\ **Created:** [November 28, 2021, 11:03pm UTC](https://boards.straightdope.com/t/series-i-u-s-savings-bonds-are-paying-7-12-update-now-6-89-down-to-5-27-mar2023/955092 "2021-11-28T23:03:13Z")\ **Posts on this page:** 20\ **Page:** 6
**Author:** ![WildaBeast](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/wildabeast/32/6_2.png) [@WildaBeast](https://boards.straightdope.com/u/WildaBeast)\ **Post date:** [October 14, 2022, 12:24am UTC](https://boards.straightdope.com/t/series-i-u-s-savings-bonds-are-paying-7-12-update-now-6-89-down-to-5-27-mar2023/955092/101 "2022-10-14T00:24:26Z")
I was just thinking about this when I heard today that Social Security recipients will be getting the largest COLA since the 80s, at least. So I assume the rates for these I-Bonds will increase similarly. ---
**Author:** ![squeegee](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/squeegee/32/14537_2.png) [@squeegee](https://boards.straightdope.com/u/squeegee)\ **Post date:** [October 14, 2022, 12:53am UTC](https://boards.straightdope.com/t/series-i-u-s-savings-bonds-are-paying-7-12-update-now-6-89-down-to-5-27-mar2023/955092/102 "2022-10-14T00:53:27Z")
I just went on Treasury Direct – looks like they reprice November 1. I really can’t see them exceeding the current 9.62%. SSI COLA was 8.7%. ---
**Author:** ![Chefguy](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/chefguy/32/138_2.png) [@Chefguy](https://boards.straightdope.com/u/Chefguy)\ **Post date:** [October 14, 2022, 5:02pm UTC](https://boards.straightdope.com/t/series-i-u-s-savings-bonds-are-paying-7-12-update-now-6-89-down-to-5-27-mar2023/955092/103 "2022-10-14T17:02:34Z")
I presently have $40K in these bonds (between the wife and me). Maturity is in December and January, and I’ll be buying another $20K in January if the rate holds. ---
**Author:** ![squeegee](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/squeegee/32/14537_2.png) [@squeegee](https://boards.straightdope.com/u/squeegee)\ **Post date:** [October 14, 2022, 5:06pm UTC](https://boards.straightdope.com/t/series-i-u-s-savings-bonds-are-paying-7-12-update-now-6-89-down-to-5-27-mar2023/955092/104 "2022-10-14T17:06:58Z")
> [@Chefguy](#): > > I presently have $40K in these bonds (between the wife and me) I thought an individual could only buy $10k a year, and you bought at the start of this thread, and in fact [commented on that limit](https://boards.straightdope.com/t/series-i-u-s-savings-bonds-are-paying-7-12-update-now-9-62/955092/17). How do two people end up with $40k in a year? Thanks. ---
**Author:** ![Chefguy](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/chefguy/32/138_2.png) [@Chefguy](https://boards.straightdope.com/u/Chefguy)\ **Post date:** [October 14, 2022, 5:13pm UTC](https://boards.straightdope.com/t/series-i-u-s-savings-bonds-are-paying-7-12-update-now-6-89-down-to-5-27-mar2023/955092/105 "2022-10-14T17:13:17Z")
I know it looks that way, but we bought two in December and then two more in January, so it was technically $10K each in two different years. That’s why I now have to wait until Jan 2023 to buy any more. ---
**Author:** ![squeegee](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/squeegee/32/14537_2.png) [@squeegee](https://boards.straightdope.com/u/squeegee)\ **Post date:** [October 14, 2022, 5:17pm UTC](https://boards.straightdope.com/t/series-i-u-s-savings-bonds-are-paying-7-12-update-now-6-89-down-to-5-27-mar2023/955092/106 "2022-10-14T17:17:39Z")
> [@Chefguy](#): > > we bought two in December and then two more in January, so it was technically $10K each in two different years Aha! Calendar years. Got it. Thanks! ---
**Author:** ![chela](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/chela/32/21582_2.png) [@chela](https://boards.straightdope.com/u/chela)\ **Post date:** [October 14, 2022, 6:06pm UTC](https://boards.straightdope.com/t/series-i-u-s-savings-bonds-are-paying-7-12-update-now-6-89-down-to-5-27-mar2023/955092/107 "2022-10-14T18:06:38Z")
The CPI part of the rate equation is predicted to bring down the effective interest rate on Nov 1. But if you purchase an I Bond before the end of this month it will earn the current rate for six months before it reverts to the new rate. Still a great rate but interest is earned monthly and compounded semi annually. ---
**Author:** ![teelabrown](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/teelabrown/32/8412_2.png) [@teelabrown](https://boards.straightdope.com/u/teelabrown)\ **Post date:** [October 14, 2022, 6:20pm UTC](https://boards.straightdope.com/t/series-i-u-s-savings-bonds-are-paying-7-12-update-now-6-89-down-to-5-27-mar2023/955092/108 "2022-10-14T18:20:43Z")
If you and your spouse have formed a trust, can the trust buy one of these bonds too? So that theoretically, you can buy $10,000 worth, your spouse can buy $10,000 worth, and the trust can buy $10,000 worth. Right? ---
**Author:** ![DigitalC](https://avatars.discourse-cdn.com/v4/letter/d/ebca7d/32.png) [@DigitalC](https://boards.straightdope.com/u/DigitalC)\ **Post date:** [October 14, 2022, 7:22pm UTC](https://boards.straightdope.com/t/series-i-u-s-savings-bonds-are-paying-7-12-update-now-6-89-down-to-5-27-mar2023/955092/109 "2022-10-14T19:22:32Z")
The next rate is estimated to be 6.47% ---
**Author:** ![squeegee](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/squeegee/32/14537_2.png) [@squeegee](https://boards.straightdope.com/u/squeegee)\ **Post date:** [October 14, 2022, 7:24pm UTC](https://boards.straightdope.com/t/series-i-u-s-savings-bonds-are-paying-7-12-update-now-6-89-down-to-5-27-mar2023/955092/110 "2022-10-14T19:24:23Z")
Yeah, that’s about what I would have expected. Despite easily panicked press, inflation has been coming down steadily if erratically. ---
**Author:** ![wguy123](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/wguy123/32/3161_2.png) [@wguy123](https://boards.straightdope.com/u/wguy123)\ **Post date:** [October 14, 2022, 8:03pm UTC](https://boards.straightdope.com/t/series-i-u-s-savings-bonds-are-paying-7-12-update-now-6-89-down-to-5-27-mar2023/955092/111 "2022-10-14T20:03:47Z")
Still worth it to me. We’ll be buying another $20K once the new year comes. ---
**Author:** ![hajario](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/hajario/32/171_2.png) [@hajario](https://boards.straightdope.com/u/hajario)\ **Post date:** [October 14, 2022, 8:14pm UTC](https://boards.straightdope.com/t/series-i-u-s-savings-bonds-are-paying-7-12-update-now-6-89-down-to-5-27-mar2023/955092/112 "2022-10-14T20:14:35Z")
I’ll take 6.5%. I’ll get another one in January too. ---
**Author:** ![Chefguy](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/chefguy/32/138_2.png) [@Chefguy](https://boards.straightdope.com/u/Chefguy)\ **Post date:** [October 14, 2022, 8:49pm UTC](https://boards.straightdope.com/t/series-i-u-s-savings-bonds-are-paying-7-12-update-now-6-89-down-to-5-27-mar2023/955092/113 "2022-10-14T20:49:45Z")
You can also buy them in your children’s names if they have SSNs. So a couple with four kids could buy $60K/year, if they had the means. ---
**Author:** ![nearwildheaven](https://avatars.discourse-cdn.com/v4/letter/n/90db22/32.png) [@nearwildheaven](https://boards.straightdope.com/u/nearwildheaven)\ **Post date:** [October 15, 2022, 2:15am UTC](https://boards.straightdope.com/t/series-i-u-s-savings-bonds-are-paying-7-12-update-now-6-89-down-to-5-27-mar2023/955092/114 "2022-10-15T02:15:14Z")
Some of my older ones, purchased when I was still working in the late 00s, are earning north of 11%. I’m going to hang onto those as long as I can. ---
**Author:** ![Baker](https://avatars.discourse-cdn.com/v4/letter/b/bb73d2/32.png) [@Baker](https://boards.straightdope.com/u/Baker)\ **Post date:** [October 15, 2022, 4:17am UTC](https://boards.straightdope.com/t/series-i-u-s-savings-bonds-are-paying-7-12-update-now-6-89-down-to-5-27-mar2023/955092/115 "2022-10-15T04:17:20Z")
I’ve never bought bonds but I was given one as a prize in contest while I was in the Army…It was just $25 face value, and that was in 1976. I’ve kept it as a souvenir. Could it still be cashed? ---
**Author:** ![nearwildheaven](https://avatars.discourse-cdn.com/v4/letter/n/90db22/32.png) [@nearwildheaven](https://boards.straightdope.com/u/nearwildheaven)\ **Post date:** [October 15, 2022, 4:22am UTC](https://boards.straightdope.com/t/series-i-u-s-savings-bonds-are-paying-7-12-update-now-6-89-down-to-5-27-mar2023/955092/116 "2022-10-15T04:22:53Z")
It should be. What type is it? ---
**Author:** ![squeegee](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/squeegee/32/14537_2.png) [@squeegee](https://boards.straightdope.com/u/squeegee)\ **Post date:** [October 15, 2022, 5:26am UTC](https://boards.straightdope.com/t/series-i-u-s-savings-bonds-are-paying-7-12-update-now-6-89-down-to-5-27-mar2023/955092/117 "2022-10-15T05:26:08Z")
> [@nearwildheaven](#): > > Some of my older ones, purchased when I was still working in the late 00s, are earning north of 11% Wait, I thought bonds you hold reprice every six months? ---
**Author:** ![Projammer](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/projammer/32/559_2.png) [@Projammer](https://boards.straightdope.com/u/Projammer)\ **Post date:** [October 15, 2022, 5:47am UTC](https://boards.straightdope.com/t/series-i-u-s-savings-bonds-are-paying-7-12-update-now-6-89-down-to-5-27-mar2023/955092/118 "2022-10-15T05:47:52Z")
Still better than double what you’re going to get out of any CD and triple any savings account. I’m in. ---
**Author:** ![Newtosite](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/newtosite/32/8623_2.png) [@Newtosite](https://boards.straightdope.com/u/Newtosite)\ **Post date:** [October 15, 2022, 6:08am UTC](https://boards.straightdope.com/t/series-i-u-s-savings-bonds-are-paying-7-12-update-now-6-89-down-to-5-27-mar2023/955092/119 "2022-10-15T06:08:57Z")
As far as I know, most savings bonds stop accruing interest 30 years after purchase. And if you don’t report the interest to the IRS in the year they mature, they may assess a penalty. ☹ Although for a $25 bond, I doubt the tax would be very much. [[Penalty for a Savings Bond Past Final Maturity | Budgeting Money - The Nest](https://budgeting.thenest.com/penalty-savings-bond-past-final-maturity-31113.html)] ---
**Author:** ![Baker](https://avatars.discourse-cdn.com/v4/letter/b/bb73d2/32.png) [@Baker](https://boards.straightdope.com/u/Baker)\ **Post date:** [October 15, 2022, 3:02pm UTC](https://boards.straightdope.com/t/series-i-u-s-savings-bonds-are-paying-7-12-update-now-6-89-down-to-5-27-mar2023/955092/120 "2022-10-15T15:02:18Z")
I will have to go to my safe deposit box to see, as I don’t remember offhand. I think it may have an E on it, but don’t quote me. [Previous page](https://boards.straightdope.com/t/series-i-u-s-savings-bonds-are-paying-7-12-update-now-6-89-down-to-5-27-mar2023/955092.md?page=5) [Next page](https://boards.straightdope.com/t/series-i-u-s-savings-bonds-are-paying-7-12-update-now-6-89-down-to-5-27-mar2023/955092.md?page=7)