§ 359.16. When does interest accrue on Series I savings bonds?
42 words·~1 min read·
/us/cfr/t31/s§ 359.16·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(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.