We’ve been reporting on the twice-per-year I Bond rate releases. Via Tipswatch, the new rate for November 2025 through April 2026 will be 4.03%, slightly higher than the May-Oct 2025 rate of 3.98%. More important is the breakdown: The new rate is comprised of 3.13% variable rate (confirmed), plus a 0.90% fixed rate.
I Bonds Nov 2025 – Apr 2026
What this means:
- If you already own I Bonds and keep them, you’ll get just 3.12% interest rate for the six month rate period of November 2025 through April 2026 (plus whatever your fixed rate is from a previous buy, which for some people is zero).
- If you buy new I Bonds between November 1, 2025 and April 30, 2026, you’ll get 4.03% for the first six months (3.13% variable + 0.90% fixed). After the six months is over, you’ll get the 0.90% fixed rate added to whatever the future variable rates are at the time.
For comparison sake: the current rate which runs May 2025 through October 2025 is 3.98% – that comes from a 1.10% fixed rate and 2.88% variable rate.
Our Verdict
Someone looking to hold longer term would want to buy before the end of October and lock in the better 1.10% fixed rate (versus the upcoming projected 0.90% fixed rate).
Don’t forget about the 3-month penalty for those who withdraw in less than 5 years. While 4.03% isn’t a bad rate currently – especially given the state tax exemption on I Bonds and treasuries – if you lose a chunk of it to the 3-month penalty the rate isn’t as interesting.
List of Past I-Bonds Rates
For context, here is a review of past I Bond rates that many of us bought into:
- May 2021 through October 2021 – 3.54% (0% fixed rate)
- November 2021 through April 2022 – 7.12% (0% fixed rate)
- May 2022 through October 2022 – 9.62% (0% fixed rate)
- November 2022 through April 2023 – 6.89% (Variable 6.49% + Fixed .40%)
- May 2023 through October 2023 – 4.30% (Variable 3.40% + Fixed .90%)
- November 2023 through April 2024 – 5.27% (Variable 3.97% + Fixed 1.30%)
- May 2023 through October 2024 – 4.28% (Variable 2.98% + Fixed 1.30%)
- November 2024 through April 2025 – 3.11% (Variable 1.91% + Fixed 1.20%)
- May 2025 through October 2025 – 3.98% (Variable 2.88% + Fixed 1.10%)
- November 2025 through April 2026 – 4.03% (Variable 3.13% + Fixed 0.90%)
