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May 15, 2012

Govt. of India 8% Savings Taxable Bonds - 2012

8% RBI Savings Bond : Government of India decided to issue 8% Savings (Taxable) Bonds, 2003 with effect from 21st April 2003.


Cumulative Interest Option  / Non-Cumulative Interest Option -Interest Payable  Half Yearly

Period  (Years)      Interest Rate (%) p. a.
6                                   8.00%

Eligibility for investment : The Bonds may be held by -

  • Individual.
  • HUF’s.
  • Charitable Institution.
Limit on Investments : No maximum limit .
Issue Price : The Bonds will be issued at per 1.e. at Rs. 100.00The Bonds will be issued for a minimum amount of Rs. 1000/- (face value) and in multiples thereof. Accordingly, the issue price will be Rs. 1000/- for every Rs. 1,000/- (Nominal).
Interest : The bond will be issued in cumulative / non cumulative from, at investor’s option.
The Bond will bear interest at the rate of 8% per annum. Interest on non-cumulative bonds will be payable at half-yearly intervals from the date of issue. Interest on cumulative bonds will be compounded with half-yearly rests and will be payable on maturity along with the principal. Interest to the holders opting for non-cumulative will be paid from date of issue upto 31st July/31st January, as the case may be and thereafter at half-yearly for period ending 31st July/31st January on 1st August and 1st February.
Interest on bonds will be paid, by cheque/warrant or through ECS by credit to bank account of the holder as per the option exercised by the investor/holder.
Tax Treatment : Interest on the Bonds will be taxable under the Income-Tax Act, 1961 as applicable according to the relevant tax status of the bond holder.
Repayment : The Bonds shall be repayable on the expiry of 6 years from the date of issue. No interest would accrue after the maturity of the Bond.
T D S : No tax will be deducted at source while making payment of interest on the cumulative and non-cumulative Bonds from time to time.
Nomination : A sole holder or a sole surviving holder of a bond, being an individual, may nominate one or more persons who shall be entitled to the Bond and the payment thereon in the event of his/her death.
Transferability : The Bond shall not be transferable. Tradeability against Bonds. The Bonds shall not be tradeable in the secondary market and shall be eligible as collateral for loan banks, financial Institutions and Non banking Finincial Companies, (NBFC) etc. Invest your money in Safe Bonds.



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