Series I bond, what am I missing?
I recently received a letter from my day job offering automatic deductions from my paycheck to purchase Series I Savings Bonds on a weekly basis.
They quoted an interest rate of 4.84%.
According to the letter the rates are locked in for 30 years when you buy a bond.
So..... what am I missing?
CD rates aren't that good. Online savings account rates aren't that good. Is this for real? Should I sign up next week for the payroll deduction and "pay myself first" with Series I Savings Bonds? Does the interest rate *really* lock in at 4.84% for 30 years?
Last edited by readytorock : 06-19-2008 at 03:15 PM.
Reason: clarifying
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