High Interest Rate Schemes: Earn More Interest Than FD, Invest This Way

High Interest Rate Schemes: Nowadays, every person wants to invest their money and get the maximum possible returns. If you are also looking for a scheme where investing will give you higher interest, you must be aware of schemes like fixed deposits. Although the interest earned from investing in this scheme may be low, it is guaranteed.

For long-term investment, which scheme will be better, where you can get more interest than FD? Let’s get some information about it.

High Interest Rate Schemes

Today, we will tell you about a scheme where investing can get you more interest than fixed deposits. The RBI Floating Rate Savings Bond is a government bond that guarantees interest. The interest rate here is reset every six months, and a new interest rate is applied. Currently, the interest rate is 0.35% higher, and you are getting around 8.05% interest per year.

More Interest Than Fixed Deposit

Let us tell you that when you invest under this scheme of the Reserve Bank of India, you get more interest than FD. Here, you are getting more than 8% interest. Generally, when you make an FD in a bank, you only get 5 to 6% interest.

How Much Will You Get on a ₹500,000 Deposit?

If you make an FD of ₹500,000 for 7 years and get 6.5% interest, you will receive ₹32,500 as interest after 7 years. But if you invest this amount in the Reserve Bank of India’s Floating Rate Savings Bond, you will get ₹40,250 as interest, which is ₹7,750 more than the fixed deposit.

Moreover, the interest rate changes every six months, so you might see an even higher increase in the interest rate after the next six months. Since these are government bonds, the interest you receive is also guaranteed.