GOI Bonds

ITEM7.15% SAVINGS (TAXABLE) BONDS
Who Can Invest?Individual, HUF, University & Charitable Trust
Minimum/Maximum InvestmentRs.1000/-& in multiples thereof. No upper limit.
Period of investments6 years
Interest payableNon Cumulative, payable Half Yearly – on 1stFebruary & 1st August. In case of Cumulative option, interest payable on maturity.
Tax BenefitWealth Tax is exempted. Income Tax will be deducted at source while interest is paid.
Forms of BondsBond Ledger Account (BAL).
Date of Issue of BondsDate of receipt of subscription in Cash or date of realization of cheque/draft.
Bank MandateIt is mandatory for the investors to provide Bank account details to facilitate payment of interest/maturity value.
Nomination FacilityAvailable – can nominate one or more person as nominee. NRI can be also nominated. However, remittance of the interest/maturity proceeds will be subject to Foreign Exchange regulations prevailing at the time of remittance. Minor also can be nominated.
TransferabilityThe Bonds are not tradable/transferable. However, the Bonds shall be eligible as collateral for loans, to creat pledge, hypothecation or lien in favour of scheduled bank for loans against the security of the bonds.
Option of schemesNon cumulative/ Cumulative. Change of option is not permitted.