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Floating Rate Savings Bonds 2020 (Taxable) – Erstwhile GOI Bonds
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-
- in his or her individual capacity, or
- in individual capacity on joint basis, or
- in individual capacity on any one or survivor basis, or
- 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
Click here to Apply now
Information for Customers / Duties & Rights of Customers
- Click here for more details
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.
