There’s a rush to buy I-bonds to lock in a high yield, but there may be an even better deal next week

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It’s hard to imagine that parking up to $10,000 in savings could be a better deal than a Series I bond at the moment. The 9.62% yield is top-notch, and you can count the hours before it’s gone.

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so there’s a mad rush crashing TreasuryDirect.gov Website, the only place to buy Government issued Savings Bonds. But before you dive in, there are a few things to know.

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Most important: It can take patience. The TreasuryDirect website states: “We are currently experiencing unprecedented requests for new accounts and purchases of I bonds. Due to these volumes, we cannot guarantee that customers will complete purchases for the current rate by the October 28 deadline.” will be able to do.

The Treasury Department warned that it may not even be able to process the flood of orders it receives by the deadline, As reported by The Wall St. Journal,

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Compared to the previous six months, the Treasury’s data page reported a decline in sales for October with only $703 million up to this point. The peak was in May, with a record nearly $5 billion in sales.

Given that the TreasuryDirect website has a history of being clunky and a recent redesign, any amount of traffic can crash servers. Or all the hype in the days leading up to super-high rates could persuade a sizable number of last-minute shoppers.

Those who are in a rush to make a purchase should be aware of some cautions while buying I-bonds in the next two days.

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Credit: www.marketwatch.com /

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