It’s come to this.
U.S. savings bonds — yeah, savings bonds — have become a better investment than most CDs.
Series I Bonds are paying 3.36%, which is more than you can earn with the best, nationally available 6-month, 12-month, 24-month and even 36-month certificates of deposit.
Although the interest rate resets every six months to reflect the current rate of inflation, it’s hard to imagine the Consumer Price Index will decline anytime soon.
And while you can keep savings bonds for a long time, you don’t have to.
They can be cashed out after just 12 months by paying a modest penalty and you’ll still out-earn the lousy CDs banks are offering right now.