Few questions about I-Bonds, or maybe more specifically about purchasing them. I have set up an account at treasurydirect.gov, and in looking around, I believe that I want to purchase a "Series I Savings Bond." There's a Purchase Express box in which you just choose from the drop down menu the product you want to buy, and the amount. This seems a little too easy, so of course I became skeptical. Not of the website, but of my knowledge. So I suppose my first question is, is this what I'm looking for?
Next, I'm curious if you can monitor the interest, or if it just shows up after a year? And let's say I want to take the money out after a year (yep, I know about the penalty if taken before 5 years), is there a "sell" button, where it more or less just puts the money + interest back into the linked account?
I could of course just take the plunge and see some of this for myself, but I can just see after I do it, it'll give me some weird message like "Thanks for buying the no-interest 10 year minimum bond. Good luck."
Thanks in advance!
Ben