Treasury Series I Savings Bonds Are Paying 9.62%
TreasuryDirect is offering Series I Savings Bonds with 9.62% return! Nobody likes inflation but if you are able to hold some cash in I bonds, 9.62% definitely helps!
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 questions
Go to Treasury Direct and open an account
Buy the Series I Savings Bonds. You can deposit up to $10,000 per calendar year.