RBI is currently offering 7.35 per cent interest in Floating Rate Savings Bonds. The scheme is getting 0.35 percent more interest than NSC. State Bank of India is paying more 7.10 percent interest on FD. Bond interest rates may change on July 1, with rates reaching over 8%.
RBI Scheme: Fixed Deposit is considered to be the best option for savings. Apart from being safe, it also gives good returns. People also invest in post office schemes for the best returns. But we are going to tell you about such a scheme, which is giving competition to FD and NFC these days. Here we are talking about Reserve Bank of India’s Floating Rate Savings Bond 2022 (RBI Floating Rates Savings Bonds 2022).
This scheme of RBI is getting excellent returns these days. But its interest rates are also going to increase in the coming days. For the first time, the interest rate of RBI bonds can cross 8 percent. At present, the floating rate savings bond is getting an interest of 7.35 per cent. But on July 1, there may be a change in its interest rates. Explain that every 6 months the central bank changes the interest rate of the bond. After which the interest rate can be 8.05 percent.
The interest on RBI Floating Rate Savings Bonds is not fixed. Its interest rate is linked to the National Savings Certificate (NSC), which is one of the special schemes of the post office. The interest of NSC is reviewed every quarter, so the changes in the bond will also be on the same basis. Investors in the bond will get the benefit of 0.35 per cent more interest as compared to NSC.
At the same time, floating rate savings bonds are offering more interest than FDs of public sector banks. The largest public sector bank State Bank of India (SBI) is giving a maximum interest of 7.10 per cent to general customers. Same is the case with other public sector banks. Although some small finance banks are offering up to 9% interest on FDs.
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