@ctgolfer Have to hold the bonds for at least one year plus 3 months to get the full interest rate:
"I bonds earn interest for 30 years unless you cash them first. You can cash them after one year. But if you cash them before five years, you lose the previous three months of interest. (For example, if you cash an I bond after 18 months, you get the first 15 months of interest.) "
Rate adjusts twice a year, I believe. I also believe you can invest $10 every year.
https://www.treasurydirect.gov/indiv/research/indepth/ibonds/res_ibonds_iratesandterms.htm
Full disclosure - I bought this investment last month.
– Z –