Should I redeem my May 2020–Oct 2022 I-Bond with a 0.00% fixed rate?

I-Bonds issued May 2020–Oct 2022 carry a fixed rate of 0.00%. Whether to hold or redeem depends on today's TIPS real yields versus your bond's fixed rate, after taxes and any early-exit penalty. Use the calculator below for a personalized verdict.

Should you redeem your May 2020–Oct 2022 I-Bond?

Your bond carries a 0.00% fixed rate. We compare holding it against switching to today's I-Bond or TIPS — after taxes and the early-redemption penalty.

Best day to redeem (next window) — Why?

⚙️ Assumptions: 24% Fed, 4% State, 2.5% Infl, 10Y Hold

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Federal Tax (%) Inc. NIIT (+3.8%) for higher brackets

State Tax (%) Applies to TIPS, not I-Bonds

Expected Inflation (%) Long-term estimate

Comparison Duration (Years) Horizon for "Hold vs TIPS"

Use Optimal I-Bond Timing

Buy I-Bonds on the last day of the month, and redeem on the first of the month.

Education Savings Bond Program

Sets I-Bond federal tax to 0% if used for tuition (Owner 24+, under income limit). TIPS remain taxable.

I might need this money before my horizon

On close calls, highlights I-Bonds' edge: you can redeem at face value anytime after a year with no rate risk. Disabled by the Education program, which requires holding to maturity.

All I-Bond purchase eras

Comparing historical fixed rates against today's TIPS real yields. Click a row to analyze.

Issued	Fixed Rate	Age	Penalty	vs TIPS	Verdict

Should you redeem your May 2020–Oct 2022 I-Bond?

All I-Bond purchase eras

Analysis