RBI Floating Rate Savings Bonds 2020 (Taxable), also known as the GOI Bonds, currently offer a taxable interest rate of 7.35% over a seven-year term. They are called floating-rate bonds because the interest rate on these bonds is linked to the NSC rate. In accordance with the scheme guidelines issued on June 26, 2020, these floating rate bonds will continue to earn 0.35% higher ROI than the prevailing NSC rate. Coupon/Interest rate on these bonds is subject to change every six months, on January 1 and July 1, if NSC's ROI changes.
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Make cheque in favour of "HDFC Bank -RBI Floating Rate Savings Bond 2020"
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Minimum ₹ 1000/- and in multiples of ₹ 1000/- thereafter and there is no maximum limit.
These bonds come up with a 7-years of tenure from the date of issue. After the bond matures, no interest will be paid. Premature redemption is permitted for investors aged 60 and up, according to the RBI Notification.
Interest is payable semi-annually from the date of bond issuance until the 30th June / 31st December, as applicable, and then half-yearly for periods ending on the 30th June and 31st December on the 1st July and 1st January, respectively.
The current rate of interest is 7.35% and subject to re-set half yearly every Jan 1st & July 1st, and will be compared to the prevailing National Saving Certificate (NSC) rate with a spread of (+) 35 basis points over the respective NSC rate. All future coupons would be reset based on the NSC rate of interest fixation on January 1 and July 1.
The interest income earned from these bonds is taxable. TDS (Tax Deducted at Source) is deducted at the time of interest payment in accordance with IT regulations.
These bonds cannot be used as collateral for loans from banks, financial institutions, or non-banking companies.
Capital Gain Bonds or popularly known as 54EC Bonds are one of the best investment tools available in India that help you reduce your tax liability arising from the sale of capital assets.
RR is an authorised marketing associate for RBI Floating Rate Bonds since their inception. RR is also among the top mobilizers of bonds in India. We have a pan-India presence through our network and offices.
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