Before sharing about the RBI bond interest rate for senior citizens let me tell you the meaning of RBI floating bond interest rate. These types of bond’s interests are connected to the post office’s small saving scheme or National Saving Certificate (NSC).
Get home loans at the lowest interest rate through NoBrokerWhat is RBI bonds interest rate?
As of now, the RBI floating rate bond is a 7.15% interest rate. The current NSC interest rate is 6.8% plus 0.35 % which is equivalent to a 7.15% annual interest rate. The interest bond is revised and reviewed every six months. As per the guidelines, the Government checks the NSC interest rate every six months.
Features of RBI tax free bonds interest rate :The bonds are bought by Indian residents and Hindu Undivided Families.
The minimum amount you can invest is Rs. 1,000. There is no stated maximum amount.
The bonds are 7 years long-term bonds which can be broken. If broken you are required to pay the penalty fee.
This is not a transferable bond. Transferability is only limited to the nominees in case of the death of the bondholder.
You cannot trade these bonds to the secondary market.
You can make a nomination if you invest in these bonds.
This was all about RBI bond interest rate for senior citizens. Hope you like it.
Read more:
Are government Bonds tax free? What are Government Bonds? How to Buy Government Bonds in India?Your Feedback Matters! How was this Answer?
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What is RBI bonds interest rate?
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2022-10-26T10:02:14+00:00 2022-10-26T10:02:15+00:00Comment
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