Inflation is up, mortgage rates are up, gas prices are up, and so are interest rates paid on savings. An important component of the new interest rates for federal i-bonds, coming in November, could be among the highest in decades.
Starting in November, an important part of the interest rate that determines how much money people earn from federal Series I Savings Bonds — i-bonds — is expected to be among the highest in more than 20 years.
No matter what happens with interest rates going forward, that would be a good opportunity for savers to lock in an attractive rate on their savings for up to 30 years. I’ll explain why.
Reach David Slade at 843-937-5552. Follow him on X @DSladeNews.
