RBI Bonds

RBI Bonds Issued by RBI

 

RBI BONDS

 

The salient features of Floating Rate Savings Bonds

The Government of India announced the launch of Floating Rate Savings Bonds 2020 (Taxable) starting July 1, 2020.

Floating Rate Savings Bonds (Taxable) 2020.

 

Eligibility

Individuals (including Joint Holdings), and Hindu Undivided Families can invest in the Bonds. These Bonds are not available to NRIs.

 

Issue price:


• Bonds will be issued at par, i.e. At Rs 100.00 Percent
• The bond will be issued in multiples of these amounts and for a minimum amount Rs 1000/- (face price). The issue price will be Rs 1000/- per Rs 1,000/- (Nominal).
• Only demat form will be used for the Bonds (Bond Ledger account)
• As proof of subscription, a certificate of holding will also be issued to the customer.

 

Features:

 

Below are the main features of this scheme:

• The designated branches of SBI and Nationalised banks will accept applications for Bonds in the Form of Bond Ledger Account.
• The only acceptable form of payment for the bonds is cash (up to Rs20,000/-), drafts, cheques or any other electronic method that can be accepted by the Receiving Office
• Bonds will only be issued in noncumulative forms.
• The Bonds will not have a maximum investment limit.
• Income-tax: The interest on Bonds will be subject to income tax under the Income Tax Act, 1961. This Act applies depending on the tax status of bond holders.
• Wealth tax: Bonds will be exempted from Wealth-tax under 1957's Wealth-tax Act.
• The Bonds will be repaid after 7 (Seventeen) years. For certain senior citizens, pre-mature is allowed.
• The bonds are not available for trade in the secondary market and cannot be used as collateral to secure loans from financial institutions, banks or non-banking financial firms.
• The semi-annual payment of interest on bonds is made on 1st January and 1st August each year. The coupon for January 20, 2021 will be paid at 7.15 percent. The interest rate for the next half-year is reset every six months. The first reset was January 1, 2021. You cannot pay interest on a cumulative basis.
• A single holder or sole surviving Bond holder can nominate another person.

 


How to invest in Investment Schemes via FinSukh.com?


FinSukh.com has made investment extremely easy, even for new investors. One can invest in various investment schemes by following the 7 steps below:
1. Tell us what you’re looking for
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7. Support system for post investment queries and difficulties, if any

 

KYC Required to Invest in Investment schemes


Know Your Customer, commonly referred to as KYC, enables banks and financial institutions to verify the identity of their customers. You only need to do this once as a first-time investor. A KYC form will include identity, address, financial status, occupation, and demographic information.

 

Why to invest in Investment Schemes with FinSukh.com?


• Instant investment solution within few minutes   • Huge Network of Local Advisors   • Lowest Price Guaranteed
• Guaranteed Claim Assistance   • No Commission for matching Advisor   • 24*7 Online Digital Support

 

 

Just fill our enquiry form or give us your name, phone number, and email address. We'll help you get started in minutes!

 

 


NOTE: As this is a Govt. of India scheme, customers are advised to visit National Savings Institute website www.nsiindia.gov.in for latest instructions/ modification in the scheme.

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