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Submission of these detials have to be done before 3PM Today to ensure successful application.

rbi 7.75% taxable bonds. 

LAST DAY TO INVEST 28TH MAY 2020 (TODAY)

sTEP 1: tRANSFER FUNDS

BENEFICIARY NAME : STOCK HOLDING CORPORATION OF INDIA LTD A/C GOI

BANK NAME : AXIS BANK LIMITED

BRANCH : FORT, MUMBAI

BANK ACCOUNT NUMBER : 004010200019895

BANK ACCOUNT TYPE : CURRENT ACCOUNT

IFSC CODE : UTIB0000004 (6 TIMES ZERO)

sTEP 2: sUBMIT DETAILS

Select interest payment option

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Details

Who can Invest? 

Resident Individuals (including Joint Holdings) and Hindu Undivided Families (HUF). NRIs are not eligible to invest.

Issue Price  At par – i.e. Rs 1,000 for every Rs 1,000 (nominal) face value

Minimum Amount  Rs 1,000 (Face value) in multiples thereof

Maximum Amount  No maximum limit

Maturity/ Repayment of Principal 7 years (lock-in-period) from the date of issue. Premature encasement shall be allowed to individuals who are 60 years and above subject to minimum lock-in-period.*

Interest Rate Option available 

Non-cumulative option: Half-yearly interest payouts (1st Aug & 1st Feb) of Rs 38.75 per Rs 1,000 Face value

Cumulative option: Cumulative value of Rs 1,000 at the end of seven years will be Rs 1,703 (based on half-yearly compounding)

Tax treatment  Interest on these bonds will be taxable under the Income-tax Act, 1961

TDS on interest 

Non-cumulative option: At the time of making payment to investors

Cumulative option: On the interest portion, at the time of payment of the maturity proceeds

Transferability/Liquidity Not Transferable, Not Tradeable in the secondary market

Eligibility for Collateral Not eligible as collateral for loans from banking institutions, non-banking financial companies or financial institutions

Risk  virtually risk free investment option

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