The U.S. Department of the Treasury has announced new rates for Series I bonds.

Newly purchased I bonds will pay 4.03% annual interest from Nov. 1 through April 30, which is up from the 3.98% yield offered through Oct. 31.

The new rate includes a variable portion of 3.12%, based on inflation data , and a fixed portion of 0.90%. The combined rate is 4.03% after rounding, according to the Treasury. The fixed rate is down from 1.10% announced in May.

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