The US Treasury has set a new rate for Series I savings bonds: 5.51% for bonds bought between 1 November 2026 and 30 April 2027. The headline number is eye-catching — but the most important part is the fixed rate underneath it.

What changed on 1 November

  • Composite rate: 5.51% for the first six months — up from 4.26% for bonds bought from May to October 2026
  • Fixed rate: 1.40% — up from 0.90% and the highest fixed rate since November 2006
  • Inflation part: 2.04% for six months (4.08% annualised), based on the Consumer Price Index
  • Series EE bonds bought in the same window earn a fixed 2.90%
  • The rates were announced by the Bureau of the Fiscal Service on 2 November 2026

Why the fixed rate matters most

An I bond’s return has two parts. The fixed rate stays with the bond for its full 30-year life — so a bond bought now keeps earning 1.40% above inflation for decades. The inflation part changes every six months, so the 5.51% composite rate only lasts six months. The next inflation adjustment comes around 1 May 2027.

The rules and limits

  • Buy limit: $10,000 in electronic I bonds per person per calendar year
  • Minimum purchase: $25, only through TreasuryDirect.gov
  • Lock-up: you cannot cash an I bond in its first 12 months
  • Early penalty: if you cash in before 5 years, you lose the last 3 months of interest
  • Tax: interest is exempt from state and local tax, and federal tax can be deferred until you cash the bond

How it compares

At 5.51%, new I bonds pay more than today’s best high-yield savings accounts and top certificates of deposit. But unlike a savings account, the money is locked for a year and the rate resets every six months — so I bonds suit money you can leave untouched, not emergency cash.

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