Explorer

Govt. issues new savings bonds

New Delhi [India], Jan 4 (ANI): The Government of India on Thursday announced to launch 7.75 percent savings bonds to enable resident citizens and Hindu Undivided Families (HUF) to invest in a taxable bond, without any monetary ceiling.

Commencing from January 10, 2018, these bonds are open to investment by individuals, including joint holdings and HUFs.

However, NRIs are not eligible for making investments in these bonds.

The bonds will be issued at par, i.e. at Rs. 100.

They will be issued for a minimum amount of Rs. 1,000 (face value) and in multiples thereof.

Accordingly, the issue price will be Rs. 1,000 for every Rs. 1,000 (nominal).

The Ministry of Finance also specified that the bonds will be issued in a demat form (bond ledger account) only.

Further, the savings bonds will have a maturity of seven years and carry an interest at 7.75 percent per annum, which will be payable half-yearly.

Therefore, the cumulative value of Rs. 1,000 at the end of seven years will be Rs. 1,703. (ANI)


This story has not been edited. It has been published as provided by ANI

View More
Advertisement
Advertisement
25°C
New Delhi
Rain: 100mm
Humidity: 97%
Wind: WNW 47km/h
See Today's Weather
powered by
Accu Weather
Advertisement

Top Headline

Another Blow To Congress As I-T Dept Serves Rs 1,700-Crore Notice Ahead Of Lok Sabha Elections: Report
Another Blow To Congress As I-T Dept Serves Rs 1,700-Crore Notice Ahead Of Lok Sabha Elections
'Kejriwal Ko Ashirwaad': Wife Sunita Kickstarts WhatsApp Campaign For Delhi CM
'Kejriwal Ko Ashirwaad': Wife Sunita Kickstarts WhatsApp Campaign For Delhi CM
Lok Sabha Polls 2024: JD(S) Announces Candidates For 3 Seats; HDK To Contest From Mandya
Lok Sabha Polls 2024: JD(S) Announces Candidates For 3 Seats; HDK To Contest From Mandya
Arvind Kejriwal Arrest: UN Steps In As Case Against Delhi CM Heats Up Ahead Of Lok Sabha Elections
Arvind Kejriwal Arrest: UN Steps In As Case Against Delhi CM Heats Up Ahead Of Lok Sabha Elections
Advertisement
for smartphones
and tablets

Videos

ABP SHIKHAR SAMMELAN 2024: POK Will Always Remain An Integral Part Of India, Says Rajnath SinghABP Shikar Sammelan 2024: Rift between Akali Dal-BJP due to farmers issues? | Rajnath SinghABP Shikhar Sammelan 2024:Rajnath Singh takes a dig at Kejriwal over his arrest in Delhi Liquor CaseABP SHIKHAR SAMMELAN 2024: Rajnath Singh Talks About Border Issues In Arunachal Pradesh | ABP News

Photogallery

Embed widget