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Many thanks, to 2old4bs, for finding and explaining the Bureau of Public Debt stipulations on the redemption of I-Bonds.

I am thinking of cashing in I-Bonds, all of which are less than 5 years old. I'd like to capture the relatively high interest rate, that applied until 5/2006.

The Bureau of Public Debt says:
...the redemption value will be determined by applying the value calculation procedures and composite rate for that bond as if the redemption date were three months earlier...

Does this mean that I should hold all 2003-2004 I-Bonds until 8/1/2006?

Thanks,
Wendy
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