The current I bond composite rate is 4.26%, for Series I savings bonds issued May 1 to October 31, 2026. This is the rate a brand-new bond earns for its first six months.
How the 4.26% breaks down
The composite rate combines two parts using the Treasury’s published formula:
| Component | Value |
|---|---|
| Fixed rate (life of the bond) | 0.90% |
| Semiannual inflation rate | 1.67% |
| Annualized inflation component | 3.34% |
| Composite rate | 4.26% |
The math: 0.90% + (2 × 1.67%) + (0.90% × 1.67%) = 4.26%. Try it yourself in the composite-rate calculator.
Why the fixed rate matters most
The 0.90% fixed rate is the highest since November 2007, and it stays with your bond for its entire 30-year life. The 1.67% inflation rate, by contrast, only lasts six months before resetting. For a long-term holder, locking in a high fixed rate is the single most valuable feature — see the full fixed-rate history.
What to do with this
- Buying now locks in the 0.90% fixed rate forever, plus the current 1.67% inflation rate for your first six months.
- Already hold a bond? Estimate its value with the I bond value calculator.
- Comparing options? See I bond vs EE bond — the current EE rate is 2.40% with a 20-year doubling guarantee.
Rates reset every May 1 and November 1. This is general information, not investment advice; verify current figures at TreasuryDirect.