Option | I | II |
---|---|---|
Tax Benefit under Section | 88 | 88 |
Issue Price (Rs.) | 5,000/- | 5,000/- |
Face Value(Rs.) | 5,000/- | 7,000/- |
Tenure | 3 years | 3 years 4 months |
Interest(%)(p.a.)* | 10.50 | DDB@ (YTM 10.6%) |
Interest Payable | Annually | DDB@ |
Minimum Application | 1 Bond | 1 Bond |
Yield to Investor (%)*#% (Including Tax Benefits) |
21.7 | 19.7 |
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Rates & Charges
FD, RD & iWish
General (390 days - 2 yrs) |
7.00% | Apply Now |
---|---|---|
Senior Citizens (390 days - 2 yrs) |
7.50% | Apply Now |
Investments
Investors can avail of rebate under Section 88 of the Income Tax Act, 1961 by investing in this Bond.
The proceeds from this Bond shall be deployed towards infrastructure projects in accordance with the Income-tax Rules.
The Central Board of Direct Taxes (CBDT), Department of Revenue, Ministry of Finance, Government of India has vide its letter F.NO.178/57/2000-IT(AI) dated August 17, 2000 declared the Tax Saving Bond as eligible security for the purpose of clause (xvi) of sub-section (2) ofSection 88 of the Income-tax Act, 1961. The tax rebate under Section 88 can be availed of by NRIs provided NRIs opt not to be assessed under the Special Provision(s)of Chapter XII-A of the Income-tax Act, 1961.
The investors can choose either/both of the following options in respect of Tax Saving Bond:
@ Tax Saving Bond Option II is in the nature of Deep Discount Bond (DDB), hence no periodic interest is payable.
* Subject to TDS as per the then prevailing tax laws.
# It has been assumed that a surcharge of 15% of tax is payable in case of both the options. % Rounded off to nearest multiple of 0.1
¥ ICICI Bank would ensure full and firm allotment against all valid applications for the Tax Saving Bond.
Monthly Income Plan : Earn 10.75%* p.a. payable monthly for 5 years (Option I)
OR
Earn 11.50%* p.a. for 5 years (Option III)
Choose any/all of the following options:
Option | I | II | III |
---|---|---|---|
Issue Price/Face Value (Rs.) | 5,000/- | 5,000/- | 5,000/- |
Minimum Application | 3 Bonds | 2 Bonds | 1 Bond |
Tenure | 5 years | 5 years | 5 years |
Interest(%)(p.a.)* | 10.75 | 11.10 | 11.50 |
Interest Payable | Monthly | Half-Yearly | Annually |
Yield to Investor (%)*# | 11.3 | 11.4 | 11.5 |
* Subject to TDS as per the then prevailing tax laws..
# Rounded off to nearest multiple of 0.1
Money Multiplier Bond (in the nature of Deep Discount Bond)
No Put/Call Option
Rs. 5,000/- becomes Rs.50,000/-* in 21 years 5 months (Option IV)
OR
Rs. 5,000/- becomes Rs.15,000/-* in 10 years 3 months (Option III)
OR
Rs. 5,000/- becomes Rs.10,000/-* in 6 years 6 months (Option II)
OR
Rs. 5,000/- becomes Rs.7,475/-* in 3 years 10 months (Option I)
Choose any/all of the following options:
Option | I | II | III | IV |
---|---|---|---|---|
Issue Price(Rs.) | 5,000/- | 5,000/- | 5,000/- | 5,000/- |
Tenure | 3 years 10 months | 6 years 6 months | 10 years 3 months | 21 years 5 months |
Face Value(Rs.) | 7,475/- | 10,000/- | 15,000/- | 50,000/- |
Minimum Application | 1 Bond | 1 Bond | 1 Bond | 1 Bond |
Yield to Investor (%)*# | 11.1 | 11.3 | 11.3 | 11.3 |
* Subject to TDS as per the then prevailing tax laws..
# Rounded off to nearest multiple of 0.1
No Put/Call Option
Invest Rs. 20,000/- and receive Rs. 660/-* per month for 12 years (Option III)
OR
Save for your retirement and receive Rs. 440/-* per month for 12 years (Option II)
OR
Get Monthly Pension for 12 years after wait period of 4, 6 & 10 years (Options I, II & III)
Option | I | II | III |
---|---|---|---|
Issue Price (Rs.) | 5,000/- | 5,000/- | 5,000/- |
Minimum Application | 4 Bonds | 4 Bonds | 4 Bonds |
Tenure | 16 years | 18 years | 22 years |
Wait Period | 4 years | 6 years | 10 years |
Pension Period | 12 years | 12 years | 12 years |
Pension per Bond (Rs.)* @ | 90 | 110 | 165 |
Pension per set of 4 Bonds (Rs.)* @ | 360 | 440 | 660 |
Yield to Investor (%)*# | 10.6 | 10.6 | 10.6 |
Frequency of pension payment | Monthly | Monthly | Monthly |
* Interest component subject to TDS as per the then prevailing tax laws.
@ Includes part principal repaid. For break-up, please see the table on "Break-up of Interest and Principal component in each Pension Payment per Bond" below
# Rounded off to nearest multiple of 0.1
Break-up of Interest and Principal component in each Pension Payment per Bond
Option | I | II | III |
---|---|---|---|
Principal component till 2nd last pension payment (Rs.) | 34.50 | 34.50 | 34.50 |
Interest component till 2nd last pension payment (Rs.)* | 55.50 | 75.50 | 130.50 |
Principal component for last pension payment (Rs.) | 66.50 | 66.50 | 66.50 |
Interest component for last pension payment (Rs.)* | 23.50 | 43.50 | 98.50 |
* Subject to TDS as per the then prevailing tax laws.
¥ Regular Income Bond, Money Multiplier Bond and Pension Bond : Preference in allotment, up to 70 percent of the Issue size, after allotment of Tax Saving Bond, for applications for up to a total of 50 Bonds (not including Tax Saving Bond) by Individuals, Minors and Kartas of HUFs.
¥ Regular Income Bond, Money Multiplier Bond and Pension Bond : Preference in allotment, up to 67 percent of the balance of the Issue size, after allotment of Tax Saving Bond and preferential allotment as above, for applications by private/public religious/charitable trusts and any other investors requiring approved security status for making investments.
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