Time To Consider I-Bonds

If you have a large amount of money sitting in an ING or Emigrant Bank Account which you won’t need for 14 to 15 months, you should seriously consider investing some of that money in Government I-Bonds. The Bureau of Labor Statistics released The Consumer Price Index (CPI) for September yesterday which rose 1.2%. This was the largest one-month increase in since 1980 with most of the blame being placed on a spike in oil prices as the result of Hurricanes Katrina and Rita.

The CPI rates are used to calculate what rate the the US Government I-Bonds will pay come November 1, 2005. The rates rose 2.85% semi-annually or at a 5.69% annual rate. This new rate (5.69% + fixed rate component) wil


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