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New U.S. savings bonds will earn 4.36 percent in interest for the first five years and 4.85 percent thereafter until maturity in 17 years, the Treasury Department reports.

The rates apply to Series EE bonds issued over the next six months. The rates will be readjusted Nov. 1 to reflect market conditions.The short-term rate is 85 percent of the average of six-month Treasury security yields for February through April 1996. The long-term rate is 85 percent of the average of five-year Treasury security yields from November 1995 through April 1996.

The Treasury said that since none of the bonds issued under the new rate structure have been outstanding for five years, the long-term rate is provided only for reference.

For the past six months, bonds earned 5.25 percent interest for the first five years.