Treasury Announces Another Sharp Increase in I Bond Rates

Treasury Announces Another Sharp Increase in I Bond Rates
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As many investors seek protection from inflation, a bond option available for decades has received plenty of publicity thanks to skyrocketing interest rates.


The I bond (the “I” stands for “inflation”) will pay out an impressive 9.62% annual rate from now through October; the Treasury Department will announce a new rate in November, but the value of the bonds themselves will not decline. The rate varies based on the Consumer Price Index and is one of two interest rates that determine how much bondholders earn.


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For full details about this investment option, visit MOAA’s “What Are I Bonds?” webpage. Some highlights:

  • The bonds are only available for purchase via or via IRS Form 8888, which you can file with your taxes to purchase bonds with your tax refund. The IRS form is the only way to secure a paper bond; Treasury Direct purchases are digital-only.

  • You’re limited to $10,000 in Treasury Direct I bond purchases and $5,000 in paper bonds per year.

  • You can buy bonds as gifts – these purchases do not count against your individual limit, but they do count against the recipient’s limit. Paper bonds are available in $50, $100, $200, $500, and $1,000 denominations. Digital bonds can be issued in any amount over $25 up to the $10,000 limit.


In addition to MOAA resources, includes a series of webpages designed to help users navigate the bond-purchasing process and understand more about the I bond itself.


Want more financial guidance from MOAA? Visit for links to the latest financial news, upcoming MOAA webinars, online resources and calculators, and much more.


MOAA does not promote specific products or services and does not have tax or estate planning specialists on staff. Consult your tax specialist or estate planner on these issues.


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About the Author

Lila Quintiliani, ChFC®, AFC®
Lila Quintiliani, ChFC®, AFC®

Quintiliani is MOAA's Program Director, Financial and Benefits Education/Counseling. She is a former Army Military Intelligence Officer as well as the spouse of an active-duty servicemember, and worked for over a decade at military installations as a personal financial counselor.