How much money can you earn with an I bond?

I bonds are offering a composite rate of 4.28% until Oct. 31, 2024 If rates stay the same, you could earn almost $432 in interest in one year (see how we got this number below). As its name suggests, inflation heavily impacts an I bond.

What is the best 1-year CD rate?

The best 1-year CD rate right now is 5.25% APY from Mountain America Credit Union and Merchants Bank of Indiana. If you're looking to save money for a short-term goal, a 1-year CD may be the right place to stash your cash. All CDs and rates in our rankings were collected, verified, and available to open as of Sept. 10, 2024.

What is an I bond's rate?

An I bond's rate combines two different rates: a fixed interest rate and an inflation rate. The fixed interest rate remains the same throughout the bond's life. The Bureau of the Fiscal Service announces the inflation rate twice a year in May and November based on changes in the Consumer Price Index for All Urban Consumers (CPI-U)