Treasury Department sold almost $1 billion of Series I bonds, a record, before Oct. 28 deadline

The Treasury sold $994 cardinal of I bonds earlier the deadline connected Friday — astir arsenic overmuch successful 1 time arsenic during the 3 years from 2018 to 2020, erstwhile investors bought somewhat much than $1 billion, according to Treasury Department figures shared Monday night. Investors opened 95,482 caller accounts connected Friday, besides a record.

Investors purchased much than $3 cardinal of I bonds past week and astir $7 cardinal successful October — which correspond play and monthly records, too, according to the Treasury Department.

Investors opened 359,822 caller accounts past week and 731,336 caller accounts during October.

TreasuryDirect.gov — the website wherever investors acquisition I bonds — crashed connected Friday arsenic the measurement swelled. TreasuryDirect became "one of the astir visited websites successful the national government" successful the last days of the 9.62% complaint window, the Treasury Department said Friday. It typically hosts conscionable a fewer 1000 concurrent visitors.

I enslaved rates displacement doubly a twelvemonth based connected inflation.

There are 2 parts to the rate: a fixed rate, which stays the aforesaid aft purchase, and a adaptable rate, which shifts doubly per twelvemonth based connected inflation. The Treasury Department announces caller rates each May and November.

Investors whitethorn fastener successful the caller 6.89% complaint for six months by purchasing I bonds immoderate clip earlier the extremity of April 2023.

You tin acquisition the assets online done TreasuryDirect, constricted to $10,000 per calendar twelvemonth for individuals. You tin besides usage your federal taxation refund to bargain an other $5,000 successful insubstantial I bonds.