I-Bond Rate Is 4.28%

I-Bonds issued May 1, 2024 through October 31, 2024 will have a rate of 4.28%.

Close up photograph of U.S. Savings Bonds.
(Image credit: Getty)

Though the potential return of U.S. Treasury I-bonds as a long-term investment is no sure thing, Americans are voting for them with their wallets: Billions of dollars of these formerly obscure securities were sold in 2022, including in a last-minute rush at the end of October of that year to capture them at a rate of 9.62%. The demand was so robust that it knocked the website for TreasuryDirect, the only place these bonds can be bought, offline at times.

Of course, you can get them just fine today, now that the rate they will pay for the next six months is down to 4.28%. That number is made up of two components: One is based on the government’s consumer price index (CPI) and one is a fixed rate — picked by the Treasury Department without further explanation — that will only apply to bonds issued May 1, 2023 to October 31, 2024: 1.30%. And that fixed rate is, well, fixed — unlike the variable inflation component, whatever the fixed rate was when the bond was issued, you’ll get paid that for as long as you hold the bond (and the term is 30 years). 

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David Muhlbaum
Former Senior Online Editor

In his former role as Senior Online Editor, David edited and wrote a wide range of content for Kiplinger.com. With more than 20 years of experience with Kiplinger, David worked on numerous Kiplinger publications, including The Kiplinger Letter and Kiplinger’s Personal Finance magazine. He co-hosted  Your Money's Worth, Kiplinger's podcast and helped develop the Economic Forecasts feature.