Code of Federal Regulations (Last Updated: May 6, 2024) |
Title 31 - Money and Finance: Treasury |
Subtitle B - Regulations Relating to Money and Finance |
Chapter II - Fiscal Service, Department of the Treasury |
SubChapter A - Bureau of the Fiscal Service |
Part 359 - Offering of United States Savings Bonds, Series I |
Subpart A - General Information |
§ 359.16 - When does interest accrue on Series I savings bonds?
Latest version.
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§ 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.