I just cashed in a EE Savings Bond issued in June 1994. The bank told me the interest amount and I will include that on my 2024 tax return. I knew the interest amount last month (May 1994) but wanted to wait until June so I would get the 6-month interest for the period (Jan. 2023 - June 2024). I thought it the rate was 4% compounded semi-annually. The difference in interest ($25.00) face value between May 2024 and June 2024 is only $0.28. If I did my arithmetic correctly, that's less than 1% annually. Could that be correct? If so, I should cash in my other savings bonds that reach 30 years in the next few months and years.
