There’s an Easier Way To Buy Series I Bonds and Earn 9.62%
In a year of volatile markets, the humble I bond has emerged as an unlikely star. Now, there’s a new way to buy them.
Fintech app Yotta recently rolled out a feature called the I-Bonds Bucket, which allows users to invest in the securities while bypassing the notoriously outdated and glitchy TreasuryDirect.gov website.
Demand for US Series I savings bonds has surged in 2022, with their stable and low-risk returns offering a rare bright spot as the Federal Reserve’s rate hikes rattle markets. Yotta — which was co-founded in 2019 by Adam Moelis, son of billionaire investment banker Ken Moelis — primarily offers bank accounts, with prize incentives for users to save money.
But in a bid to draw new customers, the fintech firm is trying to tap into the popularity of I bonds with an automated buying process. The basic pitch? Let us do the work of dealing with TreasuryDirect.gov.
“One of the issues people have with I bonds is how much of a pain the Treasury website is,” Moelis said.