How to buy RBI Floating Rate Bond

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The stock market is not doing well and retail investors want to invest their money in a safe place. By the way, we will not call RBI Floating Rate Bond an investment, it would be good to call it a savings plan. But in 2022 RBI Floating Rate Bond is giving good returns to its customers. And these bonds are issued by RBI, so it is a safe investment.

Today we will know how you can invest in RBI Floating Rate Bond. By the way, we have written an article about RBI Floating Rate Bond, in which it has been explained in detail about this bond, how you can invest in RBI Floating Rate Bond and who should invest in this bond.

Invest in RBI Floating Rate Bond

You can also invest in this bond from the official website of RBI. But the easiest way is to invest in RBI Floating Rate Bond through the bank. If you do not use internet banking, then you can also apply for this bond by visiting the bank. You have to go to the bank and fill out a form and pay the cashier. And the bond will be issued to you within 24 hours.

List of banks where you can apply for a bond

SBI, Nationalised banks, IDBI Bank Ltd, Axis Bank Ltd, HDFC Bank Ltd, and ICICI Bank Ltd

If you use the internet banking of any of these banks, you can invest in these bonds online as well. First of all, you have to log in to Internet Banking. After that, you have to find the option of RBI Floating Rate Bond. And after that, you can easily invest in RBI Floating Rate Bond.

Invest in RBI Floating Rate Bond Through Post Office

If your account is in the post office, then you can apply for RBI Floating Rate Bond by going to the post office. You can invest as much money as you want in RBI Floating Rate Bond. But in RBI Floating Rate Bond you get a lock-in period of 7 years. This means that you cannot get your bonds pre-matured before 7 years.

So you have to wait a long time for 7 years. But your interest is transferred to your bank account after every 6 months interval. If you want interest every month then you should not invest in this bond. So you can invest in the MIS plan of post offices. Or you can invest in Corporate Fixed Deposits. In Corporate Fixed Deposits, Shriram Finance is offering you an 8.90% interest rate on Fixed Deposits. And Bajaj Finance is also giving you good interest on Fixed Depository.