I bonds bought from November 1 will earn 5.51%, with the highest fixed rate since 2006

Savings bonds issued from Sunday will pay more. Series I savings bonds issued from November 1, 2026, through April 30, 2027, will earn a combined rate of 5.51% a year for their first six months, according to TreasuryDirect, the Treasury Department's site for buying the bonds. I bonds issued from May through October 2026 started at 4.26%, the Bureau of the Fiscal Service said when it set that rate in May.

Series EE bonds issued in the same six months will earn a fixed 2.90%, up from 2.40%, the EE bond page shows. The new rates appeared on TreasuryDirect at the end of October. Treasury sets savings bond rates every May 1 and November 1.

How the new rate is built

An I bond's rate has two parts. The fixed rate, set when the bond is issued, never changes. The inflation rate is reset every six months from the change in the Consumer Price Index for All Urban Consumers, before seasonal adjustment. For bonds issued from November, the fixed rate is 1.40% and the six-month inflation rate is 2.04%. Treasury combines them with a formula, the fixed rate plus twice the six-month inflation rate plus the fixed rate multiplied by the six-month inflation rate, which gives 5.51% after rounding.

The 2.04% reflects six months of rising prices. The index rose from 330.213 in March 2026, the figure Treasury used in May, to 336.940 in September, according to the Bureau of Labor Statistics. Over the full year to September, consumer prices rose 3.7%, as our report on September prices explains.

The highest fixed rate in two decades

The fixed rate matters most to anyone who holds a bond for years, because it lasts for the bond's full 30-year life. At 1.40%, it matches the rate Treasury set on May 1 and November 1, 2006, and no fixed rate set since then has been higher, according to TreasuryDirect's rate history. Bonds bought from May 2020 through October 2022 carry a fixed rate of 0%.

The 5.51% starting rate is the highest for new I bonds since those issued from November 2022 through April 2023, which started at 6.89%, according to Treasury's rate chart.

What it means for bonds you already own

The new inflation rate applies to every I bond, not only new ones, for six months from each bond's next reset. When that reset comes depends on the month the bond was issued: a bond issued in May or November resets on November 1 and May 1, one issued in June on December 1 and June 1, and so on through the year. The bond keeps its own fixed rate.

TreasuryDirect shows the value of electronic bonds in each owner's account, and its Savings Bond Calculator gives values for paper bonds. As of October 31, the rate chart on the site still showed the rates in effect since May 1.

Rules to know before you buy

• I bonds have been sold only electronically, through a TreasuryDirect account, since January 1, 2025. Paper I bonds can no longer be bought with a tax refund.
• Each Social Security number, or each Employer Identification Number, can buy up to $10,000 in electronic I bonds in a calendar year. The minimum purchase is $25.
• A bond cannot be cashed in its first 12 months. Cashing it before five years costs the last three months of interest.
• Interest is subject to federal income tax but not to state or local income tax, and it may be tax-free if used for qualified higher education expenses.
• I bonds earn interest for up to 30 years. EE bonds bought now are guaranteed to double in value in 20 years, TreasuryDirect says.