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RBI Floating Rate Savings Bonds 2020 (Taxable)

The salient features of the Bond

  • Floating Rate: The coupon/interest of the bond would be reset half yearly starting with Jan 1st, 2021 and thereafter every July 1st & Jan 1st.The coupon rate for first coupon period, payable on January 1, 2021 is fixed at 7.15%.
      Option: The interest on the bonds will be payable at half yearly intervals on Jan 1st and July 1st every year. No cumulative option available.
  • Period: 7 years. Premature encashment allowed for Individuals with Lock in period as Age group
    • 60 - 70 years - 6 years from the date of issue
    • 70 - 80 years - 5 years from the date of issue
    • 80 years & above - 4 years from the date of issue with 50% of interest due for last six months to be recovered Bonds.
  • Eligibility for investment - Individual and Hindu Undivided Family
  • Minimum investment `1000 (FV), in multiples of `1000/- and no Max limit
  • Interest on bonds taxable under I T Act 1961
  • Separate Nomination can be made for each investment
  • Bonds shall not be transferable & not tradable in Secondary market
  • Bonds not eligible as Collateral for availing loans from Banks/ Financial Institutions & Non Banking Financial Companies.
  • Cheque in favour of HDFC BANK - RBI FLOATING RATE SAVINGS BONDS 2020

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