RBI 8% Saving (Taxable) Bond.

 

            RBI Securities brings to you a safe investment option of 'RBI 8% Savings(Taxable) Bond'

 

Features:

The returns would be @ 8% p.a. payable half yearly(for non-cumulative option) Cumulative option is also available whereby Interest is payable at maturity.

 

Tenure:

The tenure of the bond is 6 years from the date of issue.No interest would accrue after the maturity of the bond

 

Limit of Investment:

No Max. Limit.

 

Face Value of Bond:

Rs. 1,000/-.

 

Interest:

8% payable half yearly( non-cumulative option).

 

Liquidity:

Neither Transferable nor tradeable. Can be pledged or hypothecated as collateral for obtaining loan from scheduled banks.

 

Income Tax:

Interest is taxable. However, institution who have made declaration in the application form that they have obtained exemption from tax and have submitted a true copy of the certificate from I.T. authorities shall be exempt from TDS.

 

Wealth Tax:

Not Applicable.

 

Who can own:

Singly,jointly,anyone or survivor. It can also be done on behalf of minor by parents or legal guardian.