central government has come up with a bank scheme for the people, where investors can “get more benefits from bank FDs.” The scheme is named “Floating Rate Savings Bond Scheme Floating Rate Savings Bonds, 2020 (FRSB).
FRSB Scheme 2020 Launch Centres(Modi) Government
Pic credit :Policinama.com
During the Corona situation, people had two big tests for both savings and investment. In such a situation, the central government has come up with a bank scheme for the people, where investors can “get more benefits from bank FDs.” The scheme is named “Floating Rate Savings Bond Scheme Floating Rate Savings Bonds, 2020 (FRSB).” This is a taxable scheme
Here are the details of this project. On July 1, the Narendra Modi government at the Center launched a special scheme. The scheme is named as Floating Tax Savings Bonds. Under this scheme, investors and investors will get a profit every 6 months. In fact it is a bond scheme. You need to buy bonds to invest in it. These bonds will be 7 years old and will pay interest twice a year on January 1 and July 1. If you have just invested in this bond, you will receive interest on January 20, 2121. The interest rate will be 7.15 percent. For every subsequent half-year (interest time limit) will be fixed anew after six months. In other words, the interest money will be added directly to the investor’s account every six months
The lowest investment amount is Rs. There is no maximum investment limit. How to buy investment bonds A maximum bond of Rs 20,000 can be purchased in cash from any government bank, IDBI Bank, Axis Bank, HDFC Bank and ICICI Bank. Bonds can also be purchased through draft, check and electronic payment modes. Bonds can only be purchased in electronic form. However, it is not a tax-saving bond, so income tax has to be paid as per the rules laid down on interest.
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