Finance Ministry to relaunch GoI bonds with 7.75% rate

At 7.75% interest, the instrument has the highest returns when compared to other fixed-income products

For those who were disappointed with the government closing subscription of its 8 per cent (taxable) savings bonds, there’s some good news. Subhash Chandra, Secretary of Department of Economic Affairs, Ministry of Finance, has tweeted that the scheme the bonds will be replaced with another one that would bear 7.75 per cent interest rate.

The relaunching of the Government of India bonds with the lower interest rate is in tandem with the recent move of the Finance Ministry, which also revised the interest rates on Post Office Savings Schemes. For retail investors and retirees, the bonds will continue to be lucrative