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I Series Bond Rate Question

joking42
  |     |   3 posts since 2022

I purchased an I Bond in January 2022 and earned a total rate of 7.12% for 6 months - through June 2022. Beginning in July 2022 the rate increased to 9.62%.

My question - Beginning in July 2022 did I earn 9.62% for 6 months through December 2022, or just for 4 months when all rates dropped to 6.92% in November 2022?

After the first 6 months of the locked in rate period is over, does my rate change every May and November or on the 6-month anniversary of when I bought the bond?

I can't determine how this worked on the Treasury Direct website.

Thanks for your clarification.

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Answers
buckeye61
  |     |   454 posts since 2011
You always get a full six months of the new rate. On the website you can click on your i-bonds and it will tell you what the current rate is for that individual bond. However, the earned interest does not show the most recent 3-months of interest until the bond reaches 60-months.
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joking42
  |     |   3 posts since 2022
Thank you for clearing this up for me.
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