Best FD Rates In India 2023: Even today when people talk about safe investment along with returns, the name of Fixed Deposit comes first. Today we will discuss one such investment instrument where fixed returns can be obtained more than FDs of banks. We are talking about RBI Floating Rate Savings Bonds 2022.
(RBI Floating Rate Savings Bonds 2022 Interest Rates)
As the name suggests, its interest rate will not remain constant. The interest rates on RBI Floating Rate Savings Bond 2022 will keep on changing from time to time. But investors will get 0.35 percent more interest than National Savings Certificate (NSC). At present, interest of 7.35 percent is being received on RBI Floating Rate Savings Bonds 2022.
But on July 1, it may increase to 8.05 percent. Let us tell you, the interest rates of RBI Floating Rate Savings Bond 2022 are changed every 6 months. The last date to change the interest rates is 1 July 2023.
How to calculate RBI Floating Rate Savings Bond 2022 interest
Like all other bonds, its interest rate is also not fixed. But it is linked to the National Savings Certificate. NSC will get 0.35 percent more interest in RBI Floating Rate Savings Bonds. If the interest rate of NSC increases, then the bond of RBI will also increase. And if the interest rates of NSC fall, then the interest rate of floating rate will also come down.
Let us tell you, from April to June 2023, the central government had increased the interest rate of the National Savings Certificate to 7.7 percent. Accordingly, from July 1, interest on RBI Floating Rate Savings Bonds 2022 can start getting more than 8 percent.
How much interest is being received on bank FD?
State Bank of India, the country’s largest public sector bank, is paying a maximum of 7.10 percent interest to ordinary citizens. At the same time, the bank is giving interest ranging from 3.50 percent to 7.60 percent to senior citizens. Apart from this, Axis Bank is giving 7.20 percent, HDFC Bank 7.10 percent, ICIC Bank 7.10 percent interest on FD to ordinary citizens.
