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Tools and Calculators

    Tax Saving Bond

    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:

     

    OptionIII
    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

     

    @ 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.

     

    Regular Income 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:

     

    OptionIIIIII
    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:

    OptionIIIIIIIV
    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

     

    Pension Bond

    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)

    OptionIIIIII
    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

     

    OptionIIIIII
    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.