We have reported in I Bond rate issues twice a year. via Tipswatchthe new rate for May 2026 to October 2026 is likely to be 4.26% (slightly higher than November 2025-April 2026 rate of 4.13%). More important is the proposed split: The new rate consists of a 3.36% variable rate, plus a 0.90% fixed rate.
I Bonds May – October 2026
What this means:
- If you already own I bonds and hold them, you’ll get a 3.36% interest rate for the six-month rate period from May 2026 to October 2026 (plus whatever your fixed rate is from a previous purchase, which for some people is zero).
- If you buy new I bonds between 1 May 2026 and 31 October 2026, you will get 4.36% for the first six months (3.36% variable + 0.90% fixed). After the six months are up, you’ll get the 0.90% fixed rate added to any future variable rate at that time.
For the sake of comparison: the current rate which lasts from November 2025 to April 2026 is 4.03% – which comes from a fixed rate of 0.90% and variable rate of 3.13%.
Our verdict
It may make sense to buy now in April, given that the rate is good and you will be locking in this good interest rate against an unknown future rate.
Don’t forget about the 3-month penalty for those who retire in less than 5 years. while 4.26% not a bad rate currently – especially given exemption from state taxes for I bonds and treasuries – if you lose part of it for the 3-month sentence, the rate is not so interesting.
List of past bond fees
For context, here’s a rundown of past I Bond rates that many of us bought:
