Get more interest than FD with government guarantee, this is the first time you have got such an opportunity, when and how to invest money

New Delhi. If you are looking for a safe investment and high interest option, then your search will soon be over. The government has announced to launch bonds worth Rs 28 thousand crores in the market on May 3. The Finance Ministry has said that the bonds will be sold in 3 lots from Friday, May 3. There will be an opportunity to invest in it from short term to long term. The special thing is that even small investors can invest in this bond, on which there will be full guarantee of security from the government.

According to the Finance Ministry, the first lot of bonds is for 2 years, on which the investor will be given a lump sum return of 7.33 percent. This lot will be worth Rs 6 thousand crores. The second lot is for 15 years of investment, on which a return of 7.23 percent will be given and under this the government is selling bonds worth Rs 10 thousand crores. The third lot is of Rs 12 thousand crores which is for 40 years i.e. till 2064. On this you will be given a return of 7.34 percent. Apart from this, an additional subscription of 2000 crores will also be given. Nikhil Kamat, founder of brokerage firm Zerodha, has also described bonds as a reliable investment, which can become an alternative to FD.

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some portion will be reserved
The government will sell this bond through RBI in Mumbai. Investors can also invest in it through online medium. 5 percent of the total bonds have been reserved for eligible individual and institutional investors. This part has been kept under non-competitive, in which only eligible investors will be given the opportunity to invest.

How can you invest
Common investors can also invest in this auction through RBI Core Banking Solutions (E-Kuber). All investments are made in electronic format only. Its auction will open on May 3, 2024. Non-competitive bids can be placed between 10.30 am to 11 am, while competitive bids will open from 10.30 am to 11.30 am.

When will we know the result
The Finance Ministry said that the names of the people who bought the bonds will be announced by the evening of May 3. Its payment will be made on May 6, 2024. Those who will be allotted bonds after investing, they will be paid on May 6 and bonds will be issued in their name. Apart from getting more interest on it than FD, it will be fully guaranteed by the government.

Tag: bank fd, government bond yields, Rate of interest, Sovereign Gold Bond