Fiscal Service Announces New Savings Bonds Rates, Series I to Earn 3.11%, Series EE to Earn 2.60%
FOR RELEASE AT 10:00 AM
November 1, 2024
Series EE savings bonds issued November 2024 through April 2025 will earn an annual fixed rate of 2.60% and Series I savings bonds will earn a composite rate of 3.11%, a portion of which is indexed to inflation every six months. The EE bond fixed rate applies to a bond’s 20-year original maturity. Bonds of both series have an interest-bearing life of 30 years.
Rates for savings bonds are set each May 1 and November 1. Interest accrues monthly and compounds semiannually. Bonds held less than five years are subject to a three-month interest penalty.
I Bond Composite Rate of 3.11% includes a Fixed Rate of 1.20%
The composite rate for Series I Savings Bonds is a combination of a fixed rate, which applies for the 30-year life of the bond, and the semiannual inflation rate. The 3.11% composite rate for I bonds issued from November 2024 through April 2025 applies for the first six months after the issue date. The composite rate combines a 1.20% fixed rate of return with the 1.90% annualized rate of inflation as measured by the Consumer Price Index for all Urban Consumers (CPI-U). The CPI-U increased from 312.332 in March 2024 to 315.301 in September 2024, a six-month change of 0.95%.
Series EE Bonds Issued May 2005 and Later
Series EE bonds issued from November 2024 through April 2025 earn today’s announced rate of 2.60%. All Series EE bonds issued since May 2005 earn a fixed rate in the first 20 years after issue. At 20 years, the bonds will be worth at least two times their purchase price. The bonds will continue to earn interest at their original fixed rate for an additional 10 years unless new terms and conditions are announced before the final 10-year period begins.
Series EE Bonds Issued from May 1997 through April 2005
Series EE bonds issued from May 1997 through April 2005 continue to earn market-based interest rates set at 90% of the average 5-year Treasury securities yields for the preceding six months. The new interest rate for these bonds, effective as the bonds enter semiannual interest periods from November 2024 through April 2025 is 3.62%. Market-based rates are updated each May 1 and November 1.
Series EE Bonds Issued Before May 1997
Series EE bonds issued before May 1997 earn various rates for semiannual earnings periods, depending on the issue dates. Please visit www.treasurydirect.gov for details and current values.
Savings Bonds Over 30 Years Have Stopped Earning Interest
All Series E savings bonds have matured and stopped earning interest. Series EE bonds issued from January 1980 through November 1994 are no longer earning interest. Series EE bonds issued from December 1994 through April 1995 will stop earning interest during the next six months.
More Information
Electronic Series EE and Series I savings bonds may be bought in TreasuryDirect®, a secure, web-based system operated by Treasury since 2002. Owners of paper savings bonds can continue to redeem them at some financial institutions. Paper Series EE and Series I Bonds can only be reissued in electronic form in TreasuryDirect.
Starting January 1, 2025, you will no longer be able to buy paper Series I savings bonds with your tax refund. For more information about this change, visit https://www.treasurydirect.gov/research-center/faq-irs-tax-feature/.
To find more information on savings bonds and which ones are still earning interest, visit Fiscal Service’s website www.treasurydirect.gov.
Bondholders may also visit TreasuryHunt.gov and conduct a simple search to see if they own any savings bonds.
The Savings Bond Calculator tool, which is helpful for calculating redemption values can also be found on the site. The website provides information and instructions for opening an online account to buy electronic savings bonds and Treasury marketable securities: bills, notes, bonds, Floating Rate Notes (FRNs), and Treasury Inflation Protected Securities (TIPS).
TreasuryDirect® is a registered mark of the U.S. Department of the Treasury.