What are RBI floating rate saving bonds?
RBI’s floating rate Savings bonds are issued by Government & come with a tenure of 7 years. There is no age cap or maximum amount that can be invested in these bonds. These bonds can be purchased through authorized banks both in physical and digital mode. These bonds have a seven-year term and are redeemed at face value after that. These bonds are available to anyone who is a resident of India. A resident who later becomes a non-resident is permitted to keep these bonds.