I bonds — TreasuryDirect
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EE bonds
I bonds
I bonds interest rates
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I bonds
The interest rate on a Series I savings bond changes every 6 months, based on inflation.  The rate can go up.  The rate can go down.
The overall rate is calculated from a fixed rate and an inflation rate.  The fixed rate never changes.  The inflation rate is reset every 6 months and, therefore, so is the overall rate.
Compare I savings bonds to EE savings bonds
Compare I savings bonds to TIPS (Treasury's marketable inflation-protected security)
Current Interest Rate
Series I Savings Bonds
4.26%
This includes a fixed rate of 0.90%
For I bonds issued May 1, 2026 to October 31, 2026.
I bonds at a Glance
Electronic or paper?
As of January 1, 2025, I bonds are only available electronically. You can buy them in your  TreasuryDirect account.
How does an I bond earn interest?
I savings bonds earn interest monthly. Interest is compounded semiannually, meaning that every 6 months we apply the bond’s interest rate to a new principal value.  The new principal is the sum of the prior principal and the interest earned in the previous 6 months.
Thus, your bond's value grows both because it earns interest and because the principal value gets bigger.
We list interest rates for all I bonds ever issued in 2 ways:
Matrix showing fixed rates, inflation rates, and combined rates together
See rate chart (PDF)
See Series I Bond Rate History
Separate tables for fixed rates, inflation rates, combined rates
See “I bonds interest rates”
How long does an I bond earn interest?
30 years (unless you cash it before then)
When do I get the interest on my I bond?
With a Series I  savings bond, you wait to get all the money until you cash in the bond.
Electronic I bonds: We pay automatically when the bond matures (if you haven’t cashed it before then).
Paper I bonds: You must submit the paper bond to cash it.
See Cash in (redeem) an EE or I savings bond.
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. See Cash in (redeem) an EE or I savings bond.
How do I find the value of my Series I savings bond?
If you have a Series I electronic bond, you can see what it is worth in your TreasuryDirect account.
To see what your paper Series I bond is worth, use our Savings Bond Calculator.
Must I pay tax on what the bond earns?
Federal income tax: Yes
State and local income tax: No
Federal estate, gift, and excise taxes; state estate or inheritance taxes: Yes
You choose whether to report each year's earnings or wait to report all the earnings when you get the money for the bond.
If you use the money for qualified higher education expenses, you may not have to pay tax on the earnings.
See more in
Tax information for EE and I savings bonds
Using savings bonds for higher education
How much does an I bond cost?
$25 minimum or any amount above that to the penny. For example, you could buy an I bond for $36.73.
Is there a maximum amount I can buy?
In a calendar year, one Social Security Number or one Employer Identification Number may buy:
up to $10,000 in electronic I bonds, and
For individual accounts, the limits apply to the Social Security Number of the first-named in the registration.
How do I ...
for a Series I savings bond
Buy EE or I savings bonds
Cash in (redeem) an EE or I savings bond
Change information about a savings bond (reissue)
Find out what my savings bond is worth
Convert paper savings bonds to electronic bonds
Give savings bonds as gifts
Deal with a bond when the owner has died
Get help for a lost, stolen, or destroyed savings bond (replace)
Open a TreasuryDirect account
See if I have uncashed bonds (Treasury Hunt)
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