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Published: Apr 26, 2024 8 min read

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Photo-collage of hands made of savings bonds holding money.
Olive Burd / Money; Getty Images

Looking for a way to protect the value of your savings from inflation? Consider I bonds.

Experts say the government savings bonds still offer attractive rates for long-term savers, especially if the goal is to beat soaring prices. Right now, I bonds boast a 5.27% interest rate, but that’s set to change on Wednesday based on the latest inflation trends.

The overall rate of I bonds changes every six months. Since inflation has been moderating, the new rate for I bonds purchased in May will almost definitely be lower than it currently is. Those who purchase I bonds before the new rate is announced, however, will be able to lock in today’s attractive rate, and they will be able to guarantee their savings beat inflation for the next 30 years.

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“We are down to the wire for I bond purchases,” Dave Enna, an I bond expert who operates the financial website TIPS Watch, says in an email. “I would say Monday, April 29, is the last ‘safe’ day to place an order” and get the 5.27% rate, he adds.

That's because I bonds purchased on Tuesday may run the risk of technically being issued by the U.S. Department of the Treasury past the deadline.

How to beat inflation by 1.3% for 30 years