Interest rates have lowered again, and while it may be great for the economy it's not good news for savers.
It's one of the most boring places to put your money. But good old-fashioned savings bonds are one of the most competitive investments out there.
The savings bond that just took a jump in the rate it pays is the "I" bond. It's a great idea because it's tied to inflation.
When inflation goes up the value of most bonds go down, but the "I" bond raises its interest rate. When inflation drops, the interest rate drops.
The "I" bonds rate is now 4.08%, you won't pay any Kansas tax, and the rate is higher than even the average 5-year CD.
The best part is you only have to hold the bonds 6 months to get that rate.
If you don't know a lot about savings bonds just go to your local bank branch, and you can buy them for no sale charge.