iBond rate in TreasuryDirect is wrong?

[boglerdude]

https://www.treasurydirect.gov/indiv/re ... positerate

^ says rate for 4/1/19 issue should be 2.18%, my account in TreasuryDirect says 1.56%

[Brian2d]

I-bonds reset on their anniversary. The rate will update in April to 2.18%, and then be in effect through September.

[aristotelian]

I am showing the same thing. I wish they would clearly break out the fixed rate and which inflation rate they are using but I do trust them to get it right.

[#Cruncher]

I-bonds reset on their anniversary. The rate will update in April to 2.18%, and then be in effect through September.

This is correct. The composite rate for I Bonds issued November through April

• Is initially based on the semi-annual inflation rate announced November 1st.
• After six months it's based on the semi-annual inflation rate announced May 1st.
• After another six months it's based on the semi-annual inflation rate announced the next November 1st.
• Et cetera

The composite rate for I Bonds issued May through October

• Is initially based on the semi-annual inflation rate announced May 1st.
• After six months it's based on the semi-annual inflation rate announced November 1st.
• After another six months it's based on the semi-annual inflation rate announced the next May 1st.
• Et cetera

For the original poster's case this can be seen on the web page, $10,000 I Bond with 0.50% Fixed Rate Purchased April 2019. From October 2020 through March 2021 its composite rate is 1.56% based on a 0.53% semi-annual inflation rate. Then, beginning April 2021, it increases to 2.18% based on a 0.84% semi-annual inflation rate. Note the "Current Value" shown in the original post's screen shot corresponds to the $10,364 shown for October 2020 reflecting the 3-month interest penalty for I Bonds redeemed before five years.