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Series I Savings Bonds

As of January 1, 2012, paper savings bonds are no longer sold at financial institutions. This action supports Treasury’s goal to increase the number of electronic transactions with citizens and businesses.

Series I savings bonds are a low-risk savings product. During their lifetime they earn interest and are protected from inflation. You may purchase:

With a TreasuryDirect account, you can purchase, manage, and redeem I bonds directly from your web browser.

Use Series I bonds to:

Current rate: 1.06% for bonds issued May 2020 - October 2020 Minimum purchase: Electronic bond: $25

Paper bond: $50

Maximum purchase

(per calendar year): Electronic bonds: $10,000

Paper bonds: $5,000 Denominations: Paper bonds: $50, $100, $200, $500, $1,000

Electronic bonds: $25 and above, in penny increments Issue method: Electronic bonds: Online in TreasuryDirect

Paper bonds: By mail after you buy with your tax refund

Rates & Terms

I bonds have an annual interest rate derived from a fixed rate and a semiannual inflation rate.

Interest, if any, is added to the bond monthly and is paid when you cash the bond.

I bonds are sold at face value; i.e., you pay $50 for a $50 bond.

Redemption Information

Minimum term of ownership: 1 year

Interest-earning period: 30 years or until you cash them, whichever comes first

Early redemption penalties:

Before 5 years, forfeit interest from the previous 3 months



After 5 years, no penalty

Tax Considerations

Savings bonds are exempt from taxation by any State or political subdivision of a State, except for estate or inheritance taxes.

Interest earnings are subject to Federal income tax.

Interest earnings may be excluded from Federal income tax when used to finance education (see education tax exclusions).

I Bond-Related FAQs

How is the earnings rate of an I bond determined?

What is the difference between EE and I bonds?

Are there tax benefits to using I bonds to finance education?

Can I give an I bond as a gift?

Can I ever lose money in I bonds?

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