The clock is running out on I bond’s record-high interest rate. As of Nov. 1, 2022, the current rate of 9.62 percent will drop. But you'll need to purchase I bonds by Oct. 28 to take advantage of the current rate.
Released by the Treasury Department and backed by the federal government, Series I Savings Bonds provide a rate of return based on inflation. They’re a safe way to hedge against a volatile economy that protects your nest egg. But how do I bonds work, and what happens when the rate drops?
