Last updated: 02 Jul, 2020 | 03:49 am
The Reserve Bank of India is launching new savings floating-rate bond to replace the previous 7.75% fixed rate savings bond. Here are a few salient features:
As an investor, you are protected from market interest rate movement and you do not have to worry about interest rates changing. This unique feature along with Sovereign nature of the bond makes this investment an excellent option for low-risk investors.
Details of the Bond:
Face Value: Rs. 1000
Tenure: 7 years
Minimum Investment: Rs. 1000
Interest Rate: NSC Rate + 0.35% (currently, 7.15%)
Interest Payout Frequency: Semi-Annual (Every year on 1st January and 1st July)
Taxation: Interest will be taxed as per your tax slab
Kindly note the following:
Senior Citizen Benefit:
If you have a low to moderate risk profile then do invest in this bond.
Click on the Ask Advisor button to Invest In this bond or to understand more about this investment.