§359.16. When does interest accrue on Series I savings bonds?
31 C.F.R. § 359.16
Interest, if any, accrues on the first day of each month; that is, we add the interest earned on a bond during any given month to its value at the beginning of the following month.
The accrued interest compounds semiannually.
Notes, amendments, and revision history
Authority
Authority: 5 U.S.C. 301; 12 U.S.C. 391; 31 U.S.C. 3105.
Source
Source: 67 FR 64278, Oct. 17, 2002, unless otherwise noted.