I bond fixed rates are determined each May 1 and November 1. Each fixed rate applies to all I-bonds issued in the six months following the rate determination.
The Current I Bond Composite Earnings Rate is 1.18%
==> EverBank is a good alternative that currently pays a 1.25% "Bonus Rate" for the first 6 months on up to $50K. <==The earnings rate for Series I Savings Bonds is a combination of a fixed rate, which applies for the life of the bond, and the semiannual inflation rate. The 1.18% earnings rate for I bonds bought from from May 1, 2013 through October 31, 2013 will apply for the succeeding six months after the issue date.
The earnings rate combines a 0.00% fixed rate of return with the 1.18% annualized rate of inflation as measured by the Consumer Price Index for all Urban Consumers (CPI-U). The CPI-U increased 0.59% between October 2012 to and March 2013.
Fixed rate = 0.00%
6 month Inflation rate = 0.59%
Composite rate =[fixed rate + (2 x inflation rate) + (fixed rate x inflation rate)]
[ 0.0000 + (2 x 0.0059) + (0.0000 x 0.0059)] = 0.0118 = 1.18%
==> Top CD and Savings Account Rates: <==
(Select your amount and account type to find the best rates)
For more information, see:
For older ibonds and what they will pay, see:
Disclaimer: I own Series I Bonds in my personal account.