Although there are many options for secure investment including fixed deposits, small saving schemes. However, there are some options whose popularity is quite less.
Although there are many options for secure investment including fixed deposits, small saving schemes. However, there are some options whose popularity is quite less. One such option is Government of India Floating Rate Bond (GOI FRB). You can invest in floating rate savings bonds of the Central Reserve Bank. It gives higher returns than fixed deposits of many banks. Let us know the interest rate and other details of this scheme.
What is the interest rate
The Reserve Bank of India (RBI) has announced an annual interest rate of 8.10 percent on the Government of India Floating Rate Bond 2034 (GOI FRB 2034) for the period from October 30, 2023 to April 29, 2024. Let us tell you that floating rate bonds are such securities which do not have any fixed coupon rate. Instead, their coupon rate is variable, which adjusts every 6 months.
What do experts say
Securities and Exchange Board of India (SEBI) registered investment advisor Sriram Jayaraman also recommends floating rate bonds as a safe investment option for income seekers. Senior citizens can consider investing in it. There is no such limit on investment in RBI bonds. It should be remembered that interest rates can change once every six months.
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