1. Regulations
  2. title 31
  3. chapter II
  4. part 359
  5. subpart A
  6. § 359.16

View all text of Subpart A [§ 359.0 - § 359.24]

§ 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.

AUTHORITY: 5 U.S.C. 301; 12 U.S.C. 391; 31 U.S.C. 3105.

SOURCE: 67 FR 64278, Oct. 17, 2002, unless otherwise noted.

CITE AS: 31 CFR 359.16