Floating Rate Savings Bonds 2020 (Taxable)

Features

Maturity Period 7 years
Rate of Interest 7.15% (Taxable)
Risk Attached Low Risk
Minimum Inv 1,000/-
Collateral Facility Not Available
Overall Liquidity Not tradable
Date of Issue Date of realization of Funds

Eligibility

An individual

 

The Bonds may be held by-

  • An individual, not being a Non-Resident Indian-
    1. in his or her individual capacity, or
    2. in individual capacity on joint basis, or
    3. in individual capacity on any one or survivor basis, or
    4. on behalf of a minor as father/mother/legal guardian.
  • A Hindu Undivided Family

How to apply?

  • Contact your nearest ICICI Bank branch for further details and application forms.

Click here to download Application Form

Payment of Interest

  • Non-cumulative (half yearly): The interest on the bonds will be payable at half yearly intervals on Jan 1st and July 1st every year. There is no option to pay interest on cumulative basis.

Tax Concessions

Interest on the Bond will be taxable under Income-Tax Act,1961 as amended from time to time & have submitted a true copy of the certificate obtained from Income Tax Authorities.

Nomination

The sole holder or all the joint holders may nominate one or more persons as nominee.

 

Nomination facility is not available in case the investment is in the name of a minor.