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Feb 15, 2011

STATE BANK OF INDIA (SBI) Retail Bonds Public Issue February 2011

Series
Series 3 Lower Tier II Bonds
Series 4 Lower Tier II Bonds
Tranche 1 Issue Opens
Monday, February 21, 2011
Tranche 1 Issue Closes
Monday, February 28, 2011
Issuer
State Bank of India
Listing
NSE and BSE
Issuance & Trading
Compulsorily in dematerialized form
Market Lot/ Trading Lot
One Bond
Depositories
NSDL and CDSL
Security
Unsecured
Rating
"CARE AAA" by CARE and "AAA/ STABLE" by CRISIL
Frequency of Interest payment
Annual
Annual
Face Value per Bond
Rs. 10,000/-
Rs. 10,000/-
Coupon (%) p.a


1) For Retail Applicants
9.75% p.a.
9.95% p.a.
2) For Non Retail Applicants
9.30% p.a.
9.45% p.a.

  • Minimum Investment: Rs 10,000
  • Rating: AAA
  • Tax Implication: There will not be any TDS since the bonds are listed on BSE and will be compulsorily issued in dematerialised form, so investors without demat a/c will not be eligible. The interest received on these bonds will be treated as income from other sources and shall form a part of the total income of the assessee in that financial year in which they are received. There are no tax benefits for investing in these bonds.
  • Who can Invest: Resident Indian individuals, HUF, partnership firms, corporates, banks, financial institutions, insurance companies, mutual funds, provident/superannuation/ gratuity/ pension fund, private/public religious / charitable trust, co-operative society can invest in these bonds.(FIIs, NRIs and OCBs are not permitted to apply in this Tranche 1 Issue)
  • Allocation for the Series Bonds shall be made on a first come first served basis based on the date of Application

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