Oct 28, 2010

RBI 8% Savings (Taxable) Bond

SAFE INVEST brings to you a Quality 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.

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