GOI Bonds

Cessation of 8 percent GoI Savings (Taxable) Bonds, 2003

The Government of India (GoI), vide Notification No.F.4(10)-W&M/2003 dated January 1, 2018, hereby announces that 8% GoI Savings (Taxable) Bonds, 2003 shall cease for subscription with effect from the close of banking hours on Tuesday, January 2, 2018.

Features

Maturity Period	6 years
Rate of Interest	8.0% per annum (Taxable)
Risk Attached	Low Risk
Minimum Inv	1,000/-
Collateral Facility	Available
Overall Liquidity	Not tradable
Date of Issue	Date of realization of the funds

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Payment of Interest

Non-cumulative (half yearly): Interest to the holders opting for non-cumulative bonds will be paid from date of issue up to 31st July/31st January as the case may be and thereafter half yearly for period ending 30th June /31st December on 1st August and 1st February
Cumulative Interest at the rate of 8% per annum compounded with half yearly rests and will be paid to the investor on maturity along with principal. (the maturity value of the bonds shall be Rs 1601.00/- for every Rs1000/-) (subject to TDS as applicable)

Tax Concessions

Interest on the Bond will be taxable under Income-Tax Act,1961

The bonds will be exempt from Wealth-Tax under the Wealth-Tax Act, 1957

Nomination

This facility will be available for Individual investment on sole holder or surviving holder basis. Customer can provide nomination by applying in Form B

This facility will not be available for joint holdings and minor investment