Here’s a general timeline for I-bonds to help you:
If you buy I-bonds, you cannot withdraw the money for 1 year.
After 1 year you can withdraw your money, but you forfeit 3 months of earned interest.
After 5 years, you can withdraw the full amount without having to pay the 3 month interest penalty.
General info: the rate does change every 6 months to adjust for inflation. And each individual can only buy $10k in i-bonds per calendar year. There are some tricks to buying more beyond the $10k limit through tax returns, or through children, or an LLC (if you have those options) but hopefully someone more knowledgeable on that can comment more.
kevinjamesfan66 t1_j20dg9f wrote
Reply to Move $10k from high interest (3.3%APY) savings to purchase i-bonds w 6.89% interest? by [deleted]
Here’s a general timeline for I-bonds to help you:
If you buy I-bonds, you cannot withdraw the money for 1 year.
After 1 year you can withdraw your money, but you forfeit 3 months of earned interest.
After 5 years, you can withdraw the full amount without having to pay the 3 month interest penalty.
General info: the rate does change every 6 months to adjust for inflation. And each individual can only buy $10k in i-bonds per calendar year. There are some tricks to buying more beyond the $10k limit through tax returns, or through children, or an LLC (if you have those options) but hopefully someone more knowledgeable on that can comment more.