BondValue

I bond composite-rate history

The composite rate is the actual earnings rate of an I bond — fixed rate plus annualized inflation. For a new bond it has ranged from 0.00% (during deflation) to a record 9.62% (May 2022 - October 2022), driven by the 2022 inflation spike. The current new-bond composite rate is 4.26% (May 2026 - October 2026). The table below shows the composite a brand-new bond earned in its first six months, with its fixed and inflation components. Every figure was recomputed from the Treasury formula and matches the official chart.

Source: TreasuryDirect. Data as of May 2026.

Composite rate by issue period

Issue periodFixedInflationComposite
May 2026 - October 2026 0.90% 1.67% 4.26%
November 2025 - April 2026 0.90% 1.56% 4.03%
May 2025 - October 2025 1.10% 1.43% 3.98%
November 2024 - April 2025 1.20% 0.95% 3.11%
May 2024 - October 2024 1.30% 1.48% 4.28%
November 2023 - April 2024 1.30% 1.97% 5.27%
May 2023 - October 2023 0.90% 1.69% 4.30%
November 2022 - April 2023 0.40% 3.24% 6.89%
May 2022 - October 2022 0.00% 4.81% 9.62%
November 2021 - April 2022 0.00% 3.56% 7.12%
May 2021 - October 2021 0.00% 1.77% 3.54%
November 2020 - April 2021 0.00% 0.84% 1.68%
May 2020 - October 2020 0.00% 0.53% 1.06%
November 2019 - April 2020 0.20% 1.01% 2.22%
May 2019 - October 2019 0.50% 0.70% 1.90%
November 2018 - April 2019 0.50% 1.16% 2.83%
May 2018 - October 2018 0.30% 1.11% 2.52%
November 2017 - April 2018 0.10% 1.24% 2.58%
May 2017 - October 2017 0.00% 0.98% 1.96%
November 2016 - April 2017 0.00% 1.38% 2.76%
May 2016 - October 2016 0.10% 0.08% 0.26%
November 2015 - April 2016 0.10% 0.77% 1.64%
May 2015 - October 2015 0.00% -0.80% 0.00%
November 2014 - April 2015 0.00% 0.74% 1.48%
May 2014 - October 2014 0.10% 0.92% 1.94%
November 2013 - April 2014 0.20% 0.59% 1.38%
May 2013 - October 2013 0.00% 0.59% 1.18%
November 2012 - April 2013 0.00% 0.88% 1.76%
May 2012 - October 2012 0.00% 1.10% 2.20%
November 2011 - April 2012 0.00% 1.53% 3.06%
May 2011 - October 2011 0.00% 2.30% 4.60%
November 2010 - April 2011 0.00% 0.37% 0.74%
May 2010 - October 2010 0.20% 0.77% 1.74%
November 2009 - April 2010 0.30% 1.53% 3.36%
May 2009 - October 2009 0.10% -2.78% 0.00%
November 2008 - April 2009 0.70% 2.46% 5.64%
May 2008 - October 2008 0.00% 2.42% 4.84%
November 2007 - April 2008 1.20% 1.53% 4.28%
May 2007 - October 2007 1.30% 1.21% 3.74%
November 2006 - April 2007 1.40% 1.55% 4.52%
May 2006 - October 2006 1.40% 0.50% 2.41%
November 2005 - April 2006 1.00% 2.85% 6.73%
May 2005 - October 2005 1.20% 1.79% 4.80%
November 2004 - April 2005 1.00% 1.33% 3.67%
May 2004 - October 2004 1.00% 1.19% 3.39%
November 2003 - April 2004 1.10% 0.54% 2.19%
May 2003 - October 2003 1.10% 1.77% 4.66%
November 2002 - April 2003 1.60% 1.23% 4.08%
May 2002 - October 2002 2.00% 0.28% 2.57%
November 2001 - April 2002 2.00% 1.19% 4.40%
May 2001 - October 2001 3.00% 1.44% 5.92%
November 2000 - April 2001 3.40% 1.52% 6.49%
May 2000 - October 2000 3.60% 1.91% 7.49%
November 1999 - April 2000 3.40% 1.76% 6.98%
May 1999 - October 1999 3.30% 0.86% 5.05%
November 1998 - April 1999 3.30% 0.86% 5.05%
September 1998 - October 1998 3.40% 0.62% 4.66%

Source: TreasuryDirect Series I rate chart. Composite = fixed + (2 × inflation) + (fixed × inflation), floored at 0%. Data as of May 2026.

Related histories

Not investment or tax advice. BondValue is an independent reference, not affiliated with the U.S. Treasury or TreasuryDirect. Savings bond rates reset every 6 months (on May 1 and November 1), and any value shown here is an estimate. Verify current rates and the exact penny value of your bonds at TreasuryDirect’s official Savings Bond Calculator. Consult a qualified professional before making financial decisions.

Last updated: 2026-06-21