TreasuryDirect is offering Series I Savings Bonds with 5.27% return! Nobody likes inflation but if you are able to hold some cash in I bonds, 5.27% definitely helps!
Savings Bond interest is exempt from state and local income tax!
The 5.27% rate is good until April 30th, 2024
Maximum of $10,000 per calendar year can be deposited.
You can do more than $10,000 if you want to gift it to your child or others.
Locked for 1 year, and 3 month interest penalty if redeemed before 5 years.
RATE CAN DROP, but you can always just withdraw and take the 3 month interest penalty which isn't much compared to the rate you are getting.Link to frequently asked questionsStep 1Go to Treasury Direct
and open an accountStep 2Go to Treasury Direct
and buy the Series I Savings Bonds. You can deposit up to $10,000 per calendar year.