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Apr 27, 2017

SBI 8% Savings (Taxable) Bonds 2003 - April 2017

Govt. of India (GOI) 8% Savings (Taxable) Bonds 2003 Application Form

Features: You will get some exclusive features and benefits with your SBI 8% Savings Bonds

  • 8%p.a. rate of interest
  • Minimum investment of Rs.1,000
  • No maximum limit on investment
  • 6 years tenure of the bond from the date of issue
  • 100% risk free investment option
  • Choose from Half Yearly Payable interest and Cumulative interest
  • For Half-yearly period ending 31st July/31st January interest paid on 1st August and 1st February.
  • No income tax exemption.
  • However, the bonds will be exempt from Wealth-Tax under the Wealth-Tax Act, 1957.
  • Interest on Bond will be paid, by through ECS etc. by credit to bank a/c
  • The Bonds shall not be tradeable in the secondary market.
  • Bonds shall be entitled to create pledge, hypothecation or lien for loans.

Who are eligible to invest in SBI 8% Savings (Taxable) Bonds?

You can apply for the SBI GoI 8% Savings (Taxable) Bonds if you are:

  • An Individual, not being a Non Resident Indian
  • A Hindu Undivided Family
  • A Charitable Institution
  • A University

A] An Individual, not being a Non Resident Indian

  • In his or her individual capacity or
  • In individual capacity on joint basis or
  • In individual capacity on anyone or survivor basis or
  • On behalf of a minor as father/mother/legal guardian

B] A Hindu Undivided Family

C] A Charitable Institution

  • "Charitable Institution" to mean a company registered under Section 25 of Indian Companies Act 1956 or
  • An institution which has obtained Certificate of Registration as a Charitable institution in accordance with a law in force or
  • Any institution which has obtained a certificate from an Income Tax Authority for the purpose of Section 80 G of the Income Tax Act, 1961
  • Any institution notified by the Central Government under clauses (ii) or (iii) of Sub-Section (1) of Section 35 of Income Tax Act, 1961

D] A University

By university, it means a university established or incorporated by a Central, State or Provincial Act, and includes an institution declared under Section 3 of the UGC Act, 1956 (3 of 1956), to be a university for the purposes of that Act

To Apply Call 0-9910009312 

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