The Reserve Bank of India has allowed subscriptions for floating-rate savings bonds, 2020, via retail direct - an online portal that enables individual investors to purchase government securities.
Floating-rate bonds, which are interest-bearing and non-tradable, are issued by the government and reach maturity seven years from the date of issuance. The RBI offers an interest rate of 8.05 per cent, which is 35 basis points above the National Savings Certificate rate. Interest on these bonds is paid semi-annually on January 1 and July 1 each year, with no provision for cumulative interest payments.
This story is from the October 25, 2023 edition of Business Standard.
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This story is from the October 25, 2023 edition of Business Standard.
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