RBI Floating Rate Bond 2023 – What is the applicable RBI Floating Rate Bond 2023 interest rate for 1st January 2023 to 30th June 2023? As you may be aware the interest rate (coupon) on RBI Floating Rate Bonds changes on a half-yearly basis, it is important to know the current rate.
RBI Floating Rate Bonds were introduced in June 2020 by replacing the RBI 7.75% Savings BOnds (2018). In floating-rate bonds, the interest rate varies based on the frequency set by the bond issuer. Such bonds will not offer you any cumulative option.
RBI Floating Rate Bond 2023 Interest Rate
As I told you above, the interest rate for RBI Floating Rate Bonds would reset once every six months. The first reset was on 1st Jan 2021. On 1st Jan 2021, the benchmarked National Saving Certificate (NSC) rate was 6.8%. Hence, for the period of 1st Jan 2021 to 30th June 2021, the RBI Floating Rate Bonds interest rate was 35 basis points over the NSC rate. Since the NSC rate was fixed at 6.8%, these…