I-Bonds have rules. For example, you have to hold the bond for five years or you must pay back three months interest. I expect in about 12 months there will be a horde of people upset when they find that out.
$10,000 individual purchase. Interest is added monthly but it does not compound, ever. After one year you have earned $712 in interest. However, if you sell at this time you must pay 3-months interest which amounts to $178. Your net gain for the year is $534 for an actual rate of 5.34%.
5.34% is pretty good for a guaranteed return, but it is significantly less than people are expecting.
...especially people such as OP who decided to seemingly purchase a Series I bond on a whim.
> but it is significantly less than people are expecting.
What people, and what expecting? I think OP new exactly what they were getting into.
Hard to put that on anyone but the purchasers.