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Tax Saving Bond

The investor can choose any/all of the following options in respect of Tax Saving Bond :

Option	I	II	III	IV
Tax Benefit under Section	88	88	88	88
Issue Price (Rs.)	5,000	5,000	5,000	5,000
Face Value (Rs.)	5,000	5,000	6,625	8,850
Tenure	3 years	6 years	3 Years 4 Months	6 years 6 months
Interest (%) (p.a.)*	8.75	9.00	DDB@(YTM 8.8 %)	DDB@(YTM 9.2 %)
Interest Payable	Annually	Annually	DDB	DDB
*Yield to Investor (%) + # (Including Tax Benefits)**	18.2	14.3	16.5	13.1
Interest Payment Dates	June 01	June 01	DDB@	DDB@
Redemption date	April 23, 2005	April 23, 2008	August 23, 2005	October 23, 2008


^@	Tax Saving Bond Option III & IV are in the nature of Deep Discount Bond (DDB), hence no periodic interest is payable.
*	Subject to TDS as per the then prevailing tax laws.
+	The yield has been calculated considering the tax rebate of 20% available to the investor and assuming that a surcharge of 2% of tax is payable in case of all the options.
#	Rounded off to nearest multiple of 0.1.

This Bond is designed to give instant liquidity anytime after one year,across the counter,to investors in case of need.

*	Subject to TDS as per the then prevailing tax laws.
#	Rounded off to nearest multiple of 0.1

This Bond has been designed keeping in view the need for a monthly income to meet expenses that are incurred on a monthly basis - for example, household expenses. The product also helps provide a source of income to individuals who have either a variable income (Self Employed Professional, etc.) or who have retired (including those who have opted for VRS).

The investors can choose any/all of the following options in respect of payment of interest:

Option	I	II	III
Issue Price (Rs.)	5000/-	5000/-	5000/-
Face Value (Rs.)	5000/-	5000/-	5000/-
Tenure	7 years	7 years	5 years
Interest (%) (p.a.)*	9.00	9.25	9.00
Interest Payable	Half-Yearly	Annually	Annually
*Yield to Investor (%)#**	9.2	9.3	9.0
Interest Payment Dates	June 01 & December 01	June 01	June 01
Redemption date	April 23, 2009	April 23, 2009	April 23, 2007

*	Subject to TDS as per the then prevailing tax laws.
^#	Rounded off to the nearest multiple of 0.1.

This Bond has been designed to provide for the lumpsum expenditure requirements once the child has grown up for events such as the child's wedding, higher education etc.