RBI Floating Rate Savings Bond offers 8.05% interest now, higher than big banks' FDs; who should invest?
Published by Economic Times
Abhishek Kumar's role: Quoted
Abhishek Kumar, founder of SahajMoney, said the bond's non-cumulative interest makes it unsuitable for people still building wealth, but retirees who have used up SCSS, POMIS and PMVVY could consider it for half-yearly payouts.
More of Abhishek's views on saving and deposits
The RBI Floating Rate Savings Bond's rate, set at the NSC rate plus 0.35 percentage point, crossed 8% for the first time. The article explains how the rate resets, the seven-year lock-in and age-based early exits, taxation, and which investors experts think it may suit.
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RBI Floating Rate Savings Bond offers 8.05% interest now, higher than big banks' FDs; who should invest?
