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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:

 

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

 

@ 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:

 

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

 

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)

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.