RBI Bonds provide more interest than FD. At present the interest rate is 8.5%. Know all the information about it here
Government of India Savings Bond is also called RBI Bond. This is a floating rate saving bond. Any Indian citizen can invest in this.
You can also invest in this bond in the name of a minor as a guardian. You can also apply for this jointly.
Its interest is decided according to the National Savings Certificate (NSC).
You can buy RBI bonds worth at least Rs 1000. After this you will have to invest only in multiples of Rs 1000. There is no limit on maximum investment in this
The lock-in period in RBI bonds is 7 years, that is, you cannot withdraw money till this period. However, senior citizens get the option of Premature Exit
RBI bonds can be purchased from any government bank including State Bank or private banks like ICICI, IDBI, HDFC or Axis.
It is also important for the investor to know that this bond is not transferable. This can be transferred in the name of the nominee only after the death of the investor.