We’ve been reporting on the twice-per-year I Bond rate releases. Via Tipswatch, the new rate for May 2026 through October 2026 is likely to be 4.26% (slightly higher than the Nov2025-April2026 rate of 4.13%). More important is the projected breakdown: The new rate is comprised of 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 keep them, you’ll get 3.36% interest rate for the six month rate period of May 2026 through October 2026 (plus whatever your fixed rate is from a previous buy, which for some people is zero).
- If you buy new I Bonds between May 1, 2026 and October 31, 2026, you’ll get 4.26% for the first six months (3.36% 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 November 2025 through April 2026 is 4.03% – that comes from a .90% fixed rate and 3.13% variable rate.
Our Verdict
It could make sense to buy already now in April given that the rate is decent and you’ll lock in this decent interest rate versus an unknown future rate.
Don’t forget about the 3-month penalty for those who withdraw in less than 5 years. While 4.26% 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%)
- May 2026 through October 2026 – 4.26% (Variable 3.36% + Fixed .90%)
