Will get interest at the rate of 7.15 percent
At this time, private and public banks of the country are paying only 4 to 6 percent interest to customers. At the same time, investors are getting interest at the rate of 7.15 percent on RBI bonds. Investors do not get any fixed rate of interest on RBI Bonds, but interest rates are reviewed every 6 months. It has been linked with the National Savings Certificate from the Center.
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>> Any Indian citizen can also invest in bonds in the name of Minor as guardian.
>> You can also apply jointly for bonds.
>> In this bond of RBI, Indian citizens can start investing with at least Rs 1,000.
>> There is no maximum investment limit.
>> The lock-in period of investment in this bond is 7 years, ie you cannot withdraw money during this period.
Interest rates are fixed every 6 months
Interest is paid half yearly on this bond of RBI. Its first payment will be on 1 January 2021. Interest rates are set every six months.
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There will be a guaranteed return of 7.15 percent on the investment. Any individual and Hindu Undivided Family (HUF) can invest in it. People of Indian origin abroad (Indian Origin Person) or NRI cannot invest in Floating Rate Savings Bonds.