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Started By
Message
You have until Thursday to lock in a 9.62% rate on Treasury I-Bonds
Posted on 10/26/22 at 9:15 pm
Posted on 10/26/22 at 9:15 pm
quote:
You can buy up to $10,000 in I-bonds per person per year
The interest rate is expected to drop to around 6.5% after October 28
LINK
4
Posted on 10/26/22 at 9:26 pm to rickgrimes
doesn't the interest rate on all owners of ibonds adjust as well?
Posted on 10/26/22 at 9:45 pm to DVinBR
6 months after purchase it will change to the current rate. The current rate changes every 6 months.
Posted on 10/26/22 at 11:39 pm to DVinBR
As above, if you buy in the month the rate changes (May/November) then your six months will end right on track.
However if you buy now you'll keep this rate for six months even though the new rate posts in November. You always get six months of the rate you purchase at and every subsequent rate.
However if you buy now you'll keep this rate for six months even though the new rate posts in November. You always get six months of the rate you purchase at and every subsequent rate.
This post was edited on 10/26/22 at 11:41 pm
Posted on 10/27/22 at 5:54 am to Teddy Ruxpin
Whats the hold time on i-bonds to fully vest?
Posted on 10/27/22 at 6:55 am to Lsut81
You cant redeem for 1 year. If you redeem before 5 years you just lose last 3 months of interest. That wont be much if rates go back down.
Good luck trying to get the treasurydirect.gov website to work though. I tried to set mine up repeatedly yesterday and could never get through the steps before it crashed.
Good luck trying to get the treasurydirect.gov website to work though. I tried to set mine up repeatedly yesterday and could never get through the steps before it crashed.
Posted on 10/27/22 at 7:07 am to TorchtheFlyingTiger
quote:
You cant redeem for 1 year. If you redeem before 5 years you just lose last 3 months of interest. That wont be much if rates go back down. Good luck trying to get the treasurydirect.gov website to work though. I tried to set mine up repeatedly yesterday and could never get through the steps before it crashed.
This isn’t true. And I bought mine yesterday no problem
Posted on 10/27/22 at 7:38 am to TorchtheFlyingTiger
quote:
I tried to set mine up repeatedly yesterday and could never get through the steps before it crashed.
yay more government inefficiency and incompetence
Posted on 10/27/22 at 8:42 am to rickgrimes
Is interest paid annually or once at the time of sale? How is it paid out? I have cash kept in a 2.55% savings account. Could I move $10k of this to I-Bonds and earn the stated interest rate each year?
ETA: Do you buy at treasurydirect.gov? The site isn't loading for me.
ETA: Do you buy at treasurydirect.gov? The site isn't loading for me.
This post was edited on 10/27/22 at 8:49 am
Posted on 10/27/22 at 8:43 am to TorchtheFlyingTiger
I’ve had zero issues with the site during multiple purchases…
Posted on 10/27/22 at 8:53 am to TorchtheFlyingTiger
Couple of notes...
If you have already bought 10k, you can still purchase gifts for yourself or others. They will earn at the 9.62 rate if purchased by thrusday for 6 months, then switch to the new rate for 6 months after that.
You just can't redeem until a year you haven't bought 10k worth.
For example.
I bought 10k for myself this year, and two 10k gifts for myself this year.
I also did the same for my wife.
I will be able to cash out 40k next year. The 20k I bought this year for myself and my wife. And then one of the gifts for each myself and my wife can be delivered and cashed out next year.
Then in Jan 2024 I can deliver and cash out the last 20k in gifts that I just bought this week.
The last 20k I just purchased will earn at 9.62 til next April, then at the new 6.48 til mid October. Then if I cash out in Jan of 2024 and lose the last three months I will only be losing the rate it earns that comes out next may.
If that makes sense.
So if you can manage to still buy, it's still a good time to before the weekend.
I didn't have trouble with the site this week, but my account was already established.
If you have already bought 10k, you can still purchase gifts for yourself or others. They will earn at the 9.62 rate if purchased by thrusday for 6 months, then switch to the new rate for 6 months after that.
You just can't redeem until a year you haven't bought 10k worth.
For example.
I bought 10k for myself this year, and two 10k gifts for myself this year.
I also did the same for my wife.
I will be able to cash out 40k next year. The 20k I bought this year for myself and my wife. And then one of the gifts for each myself and my wife can be delivered and cashed out next year.
Then in Jan 2024 I can deliver and cash out the last 20k in gifts that I just bought this week.
The last 20k I just purchased will earn at 9.62 til next April, then at the new 6.48 til mid October. Then if I cash out in Jan of 2024 and lose the last three months I will only be losing the rate it earns that comes out next may.
If that makes sense.
So if you can manage to still buy, it's still a good time to before the weekend.
I didn't have trouble with the site this week, but my account was already established.
This post was edited on 10/27/22 at 11:14 am
Posted on 10/27/22 at 9:05 am to TorchtheFlyingTiger
quote:
You cant redeem for 1 year. If you redeem before 5 years you just lose last 3 months of interest. That wont be much if rates go back down.
So the play on this for those wondering is buy today or tomorrow, hold 15 months probably then cash out and you would lose the 3 months of likely very low interest assuming inflation has gone down, the rate should be pretty low coming up mid next year.
So get 6 months @ 9.62%, get another 6 months @ 6.48%, then hold for last 3 months at whatever likely much lower rate it is then cash out and forfeit those last 3 months of interest.
Posted on 10/27/22 at 9:07 am to thunderbird1100
quote:
So the play on this for those wondering is buy today or tomorrow, hold 15 months probably then cash out and you would lose the 3 months of likely very low interest assuming inflation has gone down, the rate should be pretty low coming up mid next year.
So get 6 months @ 9.62%, get another 6 months @ 6.48%, then hold for last 3 months at whatever likely much lower rate it is then cash out and forfeit those last 3 months of interest.
Yep, exactly.
Posted on 10/27/22 at 9:40 am to rickgrimes
The Treasury Department needs to invest some money for a software developer contractor to bring the Treasury Direct website into the 21st century. It looks like The Rant in 2005.
Posted on 10/27/22 at 9:45 am to LSUtoOmaha
quote:
The Treasury Department needs to invest some money for a software developer contractor to bring the Treasury Direct website into the 21st century. It looks like The Rant in 2005.
They actually just updated it some,
This post was edited on 10/27/22 at 9:46 am
Posted on 10/27/22 at 10:39 am to NATidefan
quote:
They actually just updated it some,
Saw an article it is shitting the bed right now for last minute rush
When does interest compound?
Posted on 10/27/22 at 10:48 am to thelawnwranglers
Site is down as expected.
Posted on 10/27/22 at 10:50 am to thelawnwranglers
quote:
Saw an article it is shitting the bed right now for last minute rush
Yeah, I've heard that as well, but I haven't had any issues with it.
However, you don't want to have to call them for anything right now for sure.
My daughter forgot to save one of her security questions and got locked out. 2.5 hours on hold and then it hung up on her. Called back and they said they weren't taking anymore calls.
Told her to just wait til November to try to get it fixed.
quote:
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.
Posted on 10/27/22 at 10:52 am to NOSHAU
quote:
Site is down as expected.
Yeah, didn't work for me either.
Didn't have any trouble the other day in the evening. I'd try late this evening. Lots of people trying to buy last minute I'm sure.
This post was edited on 10/27/22 at 10:53 am
Posted on 10/27/22 at 11:00 am to rickgrimes
October 28 is a Friday. Does the new rate start tomorrow or on Monday the 31st?
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