---
kind: "section"
citation: "31 C.F.R. § 359.16"
title: "31"
number: "359.16"
heading: "When does interest accrue on Series I savings bonds?"
url: "https://uscodex.org/cfr/31/359.16"
---

# §359.16. When does interest accrue on Series I savings bonds?

- (a) 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.
- (b) **The accrued interest compounds semiannually.**

## Notes

### 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.