RBI Bond Floating Rate Savings Bonds 2020 (Taxable)
Who is Eligible for Investment in RBI Bond Floating Rate Savings Bonds 2020?
The Bonds may be held by –
(i) a person resident in India,
(a) in her or his individual capacity, or
(b) in individual capacity on a joint basis, or
(c) in individual capacity on anyone or survivor basis, or
(d) on behalf of a minor as father/mother/legal guardian
(ii) a Hindu Undivided Family
Non-Resident Indians (NRI)s are not eligible to invest in these bonds.
What is Maturity period?
7 years from the date of issuance.
What is Limit of Investment?
Minimum ₹ 1000/- and in multiples of ₹ 1000/-.
What is Floating Interest Rate & Reset Criteria?
(i) Interest is payable semi-annually from the date of issue of bonds, up
to 30th June / 31st, December as the case may be, and thereafter
half-yearly for the period ending 30th June and 31st December on 1st July and 1st January respectively.
(ii) The coupon rate payable for the next half-year would be reset on
1st January 2021 and thereafter, every 1st July and 1st January.
The coupon on 1st January 2022 shall be paid at 7.15%. (pl recheck rate before applying)
What is Tax Treatment on Income from Bond?
Tax will be deducted at the source while interest is paid.
If an exemption under the relevant provisions of the
Income Tax Act,1961 is obtained, it may be declared in the Application Form.
| Income from the bonds is taxable. |
Can we do Premature redemption?
The facility is available to the eligible investors after a Lock-in period of 4, 5, and 6 years in the age bracket of 80 years and above, between 70 to 80 years and 60 to 70 years respectively
How to Apply?
Signed and Filled in Required details
Send the form along with the following details to our office Address
- Self Attested PAN Card
- Self Attested Adhar Card
- Photo
- Cheque in favor of “HDFC Bank – RBI Floating Rate Savings Bond 2020”
- Please write you Name, Pan Card no. back side of cheque
Address :
Globalview Financial Services LLP
B/603, Aditya Arunodaya Height Complex, Krishnastal Compound, Mira Gaon, Mira Road East, Thane 401107