GOI Bonds
ITEM | 7.15% SAVINGS (TAXABLE) BONDS |
Who Can Invest? | Individual, HUF, University & Charitable Trust |
Minimum/Maximum Investment | Rs.1000/-& in multiples thereof. No upper limit. |
Period of investments | 6 years |
Interest payable | Non Cumulative, payable Half Yearly – on 1stFebruary & 1st August. In case of Cumulative option, interest payable on maturity. |
Tax Benefit | Wealth Tax is exempted. Income Tax will be deducted at source while interest is paid. |
Forms of Bonds | Bond Ledger Account (BAL). |
Date of Issue of Bonds | Date of receipt of subscription in Cash or date of realization of cheque/draft. |
Bank Mandate | It is mandatory for the investors to provide Bank account details to facilitate payment of interest/maturity value. |
Nomination Facility | Available – 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. |
Transferability | The 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 schemes | Non cumulative/ Cumulative. Change of option is not permitted. |
AMFI registered Mutual fund Distributor
ARN - 303517
Date of initial registration: 07/08/2024
Current validity: 07/08/2027
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