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What rate is my I Bond earning?
Pick the month and year you bought the bond — the fixed rate from that announcement locks for 30 years, and the composite rate is what it earned for its first 6 months.
REFERENCE · MONEY · SAVINGS
I Bond Rate History
Every announced I Bond rate since May 2021, verified against TreasuryDirect press releases: the composite rate that ran from 3.54% all the way to 9.62%, and the fixed rate that ranged from 0% to 1.30%. The current rate — announced May 2026 — pays a 4.26% composite with a 0.90% fixed rate locked for 30 years. The next reset lands November 1, 2026. Look up any bond's rate below, or pit I bonds against a high-yield savings account.
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I Bond vs savings account
One year of simple-interest illustration: your amount at the current 4.26% I Bond composite against your high-yield savings APY.
The 60-second rule
An I Bond pays a composite rate = fixed rate + inflation rate, reset every May 1 and November 1. The fixed rate locks at purchase for the bond's full 30-year life; the inflation component resets every 6 months, and the composite you see at purchase is what the bond earns for its first 6 months only. The current composite is 4.26% (fixed 0.90%, announced May 2026) — good through October 31, 2026.
Every announced rate since May 2021
Verified against TreasuryDirect press releases (October 23, 2026). A May announcement covers purchases May–October; a November announcement covers November–April. Print-friendly — use your browser's print function.
| Announced | Fixed rate | Inflation (annualized) | Composite |
|---|---|---|---|
| May 2026 | 0.90% | 3.34% | 4.26% |
| Nov 2025 | 0.90% | 3.12% | 4.03% |
| May 2025 | 1.10% | 2.86% | 3.98% |
| Nov 2024 | 1.20% | 1.90% | 3.11% |
| May 2024 | 1.30% | 2.96% | 4.28% |
| Nov 2023 | 1.30% | 3.94% | 5.27% |
| May 2023 | 0.90% | 3.38% | 4.30% |
| Nov 2022 | 0.40% | 6.48% | 6.89% |
| May 2022 | 0.00% | 9.62% | 9.62% |
| Nov 2021 | 0.00% | 7.12% | 7.12% |
| May 2021 | 0.00% | 3.54% | 3.54% |
Watching the clock: the next reset lands November 1, 2026 — 9 days out. Fixed-rate forecasts (Tipswatch via USA Today, October 16, 2026) point to a fixed rate of around 1.3% (possibly 1.4%) and a composite of roughly 4.9%, but those are forecasts, not facts — check TreasuryDirect on November 1 before acting on them.
The rules that matter
Limit: $10,000 per person per year in electronic bonds at TreasuryDirect. Lock-in: you cannot redeem for the first 12 months. Early penalty: redeem before 5 years and you lose the last 3 months of interest. Taxes: federal tax is deferred until you cash out or the bond matures; the interest is exempt from state and local tax. Source for all rates above: TreasuryDirect — I Bonds Interest Rates.
Output · formula · meaning
| Output | Formula | What it means |
|---|---|---|
| Fixed rate at purchase | the fixed rate in the announcement row covering your purchase month | 0.90% for a May 2026 purchase — locked for the bond's 30-year life. |
| First-6-months composite | the composite in the same announcement row | 4.26% for a May 2026 purchase — what the bond earns for its first 6 months, then it resets. |
| One-year I Bond interest | amount × 4.26% | $426.00 on $10,000 — a simple annualized illustration, not a promise. |
| One-year savings interest | amount × your APY | $450.00 on $10,000 at 4.5% APY. |
Who uses this
- The 2022 9.62% bondholder: checking what fixed rate that May 2022 bond carries (0.00% — it rode the inflation wave and nothing else) before deciding whether to keep or redeem it.
- The new buyer timing November 1: deciding whether to buy before the reset at 0.90% fixed or wait — the lookup makes the current lock-in explicit.
- The inflation-hedge shopper: comparing the 4.26% composite against a 4.5% savings APY, with the 1-year lock-in and 3-month penalty priced into the decision.
- The student or researcher: citing the full announcement series — the cite block below is formatted for exactly that.
Accuracy & limitations
Every rate above was verified against TreasuryDirect press releases on October 23, 2026 — do not trust secondary tables, one of which copies the May 2024 row into its May 2026 row. The vs-savings comparison is a simple annualized illustration: the 4.26% composite resets after 6 months, I Bond interest compounds semiannually, and savings APYs move. It ignores the 1-year lock-in, the 3-month early-redemption penalty (bonds redeemed before 5 years), the $10,000 annual purchase limit, and taxes (I Bond interest is state-tax exempt; savings interest is not). The November 1, 2026 reset is days away — re-check before buying.
Cite this calculatorBright Side Kit. “I Bond Rate History.” brightoolbox.com, 2026.
Bright Side Kit. "I Bond Rate History." https://brightoolbox.com/i-bond-rate-history/ Accessed October 23, 2026.Frequently asked questions
What is the current I Bond rate?
The rate announced May 2026: a 4.26% composite with a 0.90% fixed rate, good through October 31, 2026. The next reset is November 1, 2026.
What rate is my I Bond actually earning?
Two rates. The fixed rate from when you bought it locks for 30 years; the composite resets every 6 months, and the composite at purchase applied for the first 6 months only. Use the lookup above — a May 2022 bond earns a 0.00% fixed rate forever, for example.
Why was the May 2022 rate 9.62%?
That announcement paired a 0.00% fixed rate with a 9.62% annualized inflation rate — peak 2022 inflation, pure pass-through. The fixed rate was zero, so those bonds earn nothing above inflation for their whole 30-year life.
Are I bonds better than a high-yield savings account?
On raw first-year math at current rates: $10,000 earns $426.00 on the 4.26% I Bond composite vs $450.00 at a 4.5% savings APY — savings wins the illustration. But I bonds are state-tax exempt, the savings APY can fall, and the I Bond composite resets every 6 months. The lock-in (1 year) and 3-month early penalty tip short horizons toward savings.
When can I cash out an I Bond?
Not for the first 12 months. Redeem before 5 years and you lose the last 3 months of interest. After 5 years, no penalty. Bonds stop earning interest at 30 years.
Will the fixed rate really go to 1.3% on November 1?
That is a forecast (Tipswatch via USA Today, October 16, 2026), not an announcement. Treasury sets the actual fixed rate on November 1 — check TreasuryDirect that day before timing a purchase around it.
How much can I buy per year?
$10,000 per person per year in electronic bonds at TreasuryDirect (paper bonds via tax refund are a separate, smaller channel).