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| Features |
| Maturity Period |
6 years |
| Rate of Interest |
8.0% per annum (Taxable) |
| Risk Attached |
Low Risk |
| Minimum Investment |
Rs. 1,000/- |
| Maximum Investment |
Unlimited in multiples of Rs.1,000/- |
| Collateral Facility |
Available |
| Overall Liquidity |
Not tradable |
| Date of Issue |
Date of realization of the funds |
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| Payment of Interest |
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- Non-cumulative (half yearly):Interest to the holders opting for non-cumulative bonds will be paid from date of issue up to 31st July/31st January as the case may be and thereafter half yearly for period ending 30th June /31st December on 1st August and 1st February.
- Cumulative: Interest at the rate of 8% per annum compounded with half yearly rests and will be paid to the investor on maturity along with principal. (the maturity value of the bonds shall be Rs 1601.00/- for every Rs1000/-) (subject to TDS as applicable).
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| Tax Concessions |
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- Interest on the Bond will be taxable under Income-Tax Act,1961.
- The bonds will be exempt from Wealth-Tax under the Wealth-Tax Act, 1957.
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| Eligibility |
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The main features of these bonds are as follows:
- As an individual;
- Who is not a Non-resident Indian
- In his or her individual capacity or
- On joint basis, or
- Anyone or survivor basis, or
- On behalf of a minor as father/mother/legal guardian.
- As a Hindu Undivided Family
- As an Institution
- 'Charitable Insititution' under section 25 of the Indian Companies Act 1956.
- Institution obtained Certificate Of Registration as charitable institution.
- Any Institution which obtained certificate from Income Tax Authority
U/S 80G of Income Tax Act, 1961.
- "UNIVERSITY" established or incorporated by Central, State or Provincial Act, U/S 3 of University Grants Commission Act, 1956 (3 of 1956).
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