HDFC GOI RBI Floating Rate Savings Bond has an interest coupon that is reset every six months specifically on July 1st and January 1st starting from January 1st 2021. The coupon rate is linked to the current national saving certificate (NSC) rate and also has a spread of (+) 35 basis points over the respective NSC rate.
There is no option in the HDFC GOI RBI Floating Rate Savings Bond to receive interest on a cumulative basis. As a result, the coupon rate in HDFC GOI RBI Floating Rate Savings Bond for the first coupon period, from July 1 to December 31, 2020, payable on January 1, 2021 is 8.05% (7.70% +0.35%).

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