My wife and I are looking to put some money away for a home down payment in 2-3 years (I understand the pre-5 year penalty). I stumbled upon Series I Bonds as a better alternative than a high yield savings account. Currently the bond rate is 7.12%. For some reason I'm confused as to the meaning of this. For the next 6 months, the bond will receive monthly compounded interest of 7.12%? That seems unreal. I appreciate any clarification.
Submitted November 05, 2021 at 08:17PM by aplchn_mtngoat https://ift.tt/3GVfFKJ
