Investing in RBI directly

[i_Ricky]

Hey folks i was scrolling reels and somehow i got a reel in which the person was saying we can invest in RBI directly which pays 8.5% interest rates with the minimum investment of just 1000 rupees and we get interest paid on every six month and it has a lock in facility too . TALKING about RBI floating rate savings bond
in description this all has written given below "this was the reel you can check "

"Welcome, RBI Floating Rate Savings 2020 (Taxable):

Features:
1. Bonds are open to investment by individuals and HUFs. NRIs are not eligible for making investments in these bonds.
2. Applications for the Bonds will be received in the designated branches of SBI, Nationalized banks, IDBI Bank Ltd, Axis Bank Ltd, HDFC Bank Ltd and ICICI Bank Ltd. Or online at RBI Retail Direct.
3. These bonds are absolutely Risk free, better than banks
4. RBI Bond pays 0.35% + NSC interest rate, which comes out to be 8.05% interest today. It is reset every 6 months.
5. Interest is paid semi-annually on January 1st and July 1st
6. Minimum investment: 1,000, and in multiples pf 1,000 thereof, No maximum investment
7. 7-year lock in, and lower for senior citizens (depending on age can go till 4 years of lock-in)"

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Didi would you please make a video on this topic (guys do support this thread so we can get a video on bekifayati channel )

 

[vamsi18]

Just gone through it. 8.05 interest rate is near to some banks current FD rate. Plus the main con is 7 year lock-in period.
There is one more instrument by RBI, for people who do not want to have a lock in period of 7 years and if planning to get floating interest then they can directly buy NSC.
All the features are same as above for NSC.
If one is okay with 7 year lock-in and want a floating interest based instrument go for the above which will yield 0.35% + NSC interest rate.
If one does not want to have 7 year lock-in, then buy directly NSC that will give NSC interest rate and can be redeemed after 1 year.

If Fixed interest is okay then go for a bank FD.

 

[Suman@123]

It’s a very good option to save and secure investments