Time to cash in October issue I Bonds
I finished my I Bond liquidation today and cashed in the I Bonds that I bought in October 2003 and October 2005.
Since I haven't held them for the required minimum of five years, I had to forfeit the last three months worth of interest. I cashed them in today because I end up sacrificing three months worth of interest at 2.11% for the October 2003 bonds and 2.21% for the October 2005 bonds, while keeping all interest earned at the previous rates of 6.83% and 6.93%, respectively.
I already have plans for this money, which will be moved into 6.25% CDs at Penfed later this week.