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Electronic Code of Federal Regulations

e-CFR data is current as of June 4, 2020

Title 31Subtitle BChapter IISubchapter APart 359Subpart A → §359.16


Title 31: Money and Finance: Treasury
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?

(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.

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