RBI Bond: Earning of Rs 40 thousand every six months, income will be there for 7 years, know how
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RBI Bond: By investing in floating rate savings bonds, you can get more returns than any bank’s FD. Currently, interest up to 8.05% is being given on Floating Rate Savings Bond 2020 (T) December 2020. It is a non-traded bond, under which guaranteed interest is available. The interest received on this is linked to the National Savings Scheme offered by the Central Government.
You can invest in floating rate savings bonds with a minimum of Rs 1,000. Besides this, there is no age restriction for investment. In such a situation, people of any age can invest in this bond. However, tax is deducted on the interest received on it.
In this, the maturity of investment is seven years. For senior citizens aged between 60 years to 80 years, the lock period is 4, 5 and 6 years. After this they can easily withdraw their money from this bond.
Now it comes to how this bond will earn Rs 40 thousand every month. If you invest Rs 10 lakh in bonds, you will get around Rs 40,000 as interest every six months. Issued by the Government of India, bonds guarantee risk-free returns to those who invest in them. However, the rates are reviewed every six months on January 1 and July 1.
RBI-Retail Direct Scheme was launched on November 12, 2021. It allows individual investors to set up a Retail Direct Gilt Account directly with the RBI. This can be easily done through an online portal, which enables investment in government securities in both primary and secondary markets.
Currently, retail investors have the opportunity to invest in various financial instruments including central government securities, treasury bills, state government securities and sovereign gold bonds through the Retail Direct portal. The objective of this scheme is to make government securities easily accessible to retail investors by streamlining the investment process.
You can easily pay for this bond through UPI, Net Banking and other means. Also, you can make any person in your family a nominee.
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