RBI Announces 8% Interest on Floating Rate Bond 2034: All You Need to Know
The Government of India has introduced a Floating Rate Bond (FRB) maturing in 2034, with the Reserve Bank of India (RBI) declaring an 8% interest rate for the Floating Rate Savings Bond (FRSB) 2034. This bond offers a variable interest rate that resets every six months, reflecting market conditions.
The interest rate for the FRB is determined by averaging the yields of recent auctions for short-term government debt, such as Treasury Bills. This rate adjusts every six months. For the period from April 30, 2024, to October 29, 2024, the interest rate stands at 8%.
Floating-rate bonds are ideal for conservative investors seeking assured returns over a fixed tenure. However, they may not be suitable for those willing to assume higher risks for potentially higher returns, who may consider alternatives like balanced mutual funds, bank fixed deposits, or company deposits.
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