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Here’s how to gain 7% interest on cash in savings without the risk of losing it

Between now and April of 2022, you can deposit cash into a government bond where it will earn 7.12% interest.

The rate is through Series I savings bonds and the second highest interest rate ever offered.

The previous rate was just 3.54%. Rising inflation has increased the rate.


Due to the rate of inflation being as high as 5.4% in Sept., the 7.12% on Series I bonds will be guaranteed for 6 months.

The rate will rise or drop in the future based on whatever happens with inflation.

Series I bonds have a 20 year maturity date and the option of a 10 year extension. They aren’t marketable so they’re considered a safe investment for your money.


These bonds are only good for those who have the cash to spare due to how long they need to sit for. The cash needs to stay in the bond for at least one year, and if it’s taken out before five years then three months of interest is taken out.

The max that can be invested every year is $15,000. $10,000 for electric bonds and $5,000 for paper.

After 20 years the U.S. Treasury can guarantee that investors doubled their money.

These bonds can be purchased either through the Treasury Direct online or in paper form with federal tax refunds.

Related: What is an HSA, or Health Savings Account and how does it work?



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