RBI facilitates the Govt of India to raise funds to plug the Government's revenue account deficit. The 10 year bond is one such instrument. The 10 year bond bears an interest rate of 8.4% and matures in 2024. More details here .
The yield of a bond refers to the amount that you will get (in % terms), provided you buy the bond now and hold till maturity.
is it compulsory that bond to be held till maturity or can we also withdraw our money before 10 years and what about interest will we get it annually or only after 10 years
The GoI 10 year Bonds are trade-able, which means you can sell them anytime before maturity The current interest rate is for the 10 year bond maturing in 2024 is 8.4%.