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Series I bonds pay record 9.62% interest rate ⁠-- here's how to buy them

James Royal, Bankrate.com on

Published in Home and Consumer News

In addition, trusts and estates can purchase I bonds in some cases, but corporations, partnerships and other organizations may not.

2. Set up a TreasuryDirect account

If you meet the qualifications, you can proceed with opening a TreasuryDirect account. This account allows you to purchase bonds (including Series EE bonds) as well as Treasury bills, Treasury notes, Treasury bonds and TIPS right from the government.

For individuals setting up a TreasuryDirect account, you’ll need a taxpayer identification number (such as a Social Security number), a U.S. address of record, a checking or savings account, an email address and a web browser that supports 128-bit encryption.

You’ll enter your information at the prompts and can establish the account in just a few minutes. You’ll set up a password and three security questions to help protect your account.

Children under age 18 cannot set up a TreasuryDirect account directly, but a parent or other adult custodian may open an account for the minor that is linked to their own.

 

3. Place your order

After you’ve set up the account, TreasuryDirect will email your account number, which you can use to log in to your account. Once you’re in the account, you can select “BuyDirect” and then choose Series I bonds and how much you’d like to purchase. Then select the bank account to use and the date you’d like to make the purchase. You can also set up a recurring purchase.

For electronic bonds over $25, you can buy in any increment down to the cent. That is, you could purchase a bond for $76.53, if you wanted.

Review your purchase and then submit your order. Once your order is complete, your TreasuryDirect account will hold your bonds and you can view them there at any time.

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