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If you are looking for assured returns with complete safety of your principal amount, RBI Bond is an attractive investment option.
Process to apply for RBI Bonds.
✅ Download the 7.15 %* RBI - Floating Rate Savings Bonds 2020 (Taxable) Form here.
✅ Cheque in Favour of "HDFC BANK - FLOATING RATE SAVING BONDS, 2020 (TAXABLE)"
✅ Pages to be Signed are Page No. 2, 3, 5 and Aadhar Declaration form.
✅ Document to be attached with Form are .
Individuals
Duly filled in application form (Complete application forms with all pages in full,duly filled in from the investors).
Self attested PAN card copy of the investor.
Self attested Address copy of the investor.
Self attested ID Proof copy of the Nominee.
Cancelled cheque leaf of the bank which was mentioned in application for interest and maturity payments.
No correction / alteration allowed in the application and the corrections if any to be duly authenticated by the investor.
HUF
Duly filled in application form (Complete application forms with all pages in full,duly filled in by the Karta with stamp and signature).
Self attested PAN card copy of the HUF.
Self attested Address copy of the HUF.
Cancelled cheque leaf of the bank which was mentioned in application for interest and maturity payments.
No correction / alteration allowed in the application and the corrections if any to be duly authenticated by the Karta.
List of coparceners in the Hindu Undivided Family along with their signatures attested by Karta.
Minors
Duly filled in application form (Complete application forms with all pages in full,duly filled in from the Guardian).
.Self attested PAN card copy of the minor / Guardian.
Self attested Address copy of the minor / Guardian.
Birth Certificate of the minor attested by the Guardian.
Cancelled cheque leaf of the bank which was mentioned in application for interest and maturity payments.
No correction / alteration allowed in the application and the corrections if any to be duly authenticated by the investor.
In case of POA, Original POA to be verified by the bank and certified as "Original Seen and Verified".
✅You can send Document directly to us with a soft copy on support@nivesheasy.com or WhatsApp us on 7876223377 else application will be rejected.
✅ HUF Declaration Form (for HUF only)
✅ Download the Form 15G
✅ Download the Form 15H
HDFC BANK - 7.15% RBI Floating Rate Savings Bonds 2020 ( Taxable)
The government has announced the launch of Floating Rate Savings Bonds, 2020 (Taxable) with an interest rate of 7.15 percent. The bonds will be available for subscription from July 1st, 2020, onwards. As per the Reserve Bank of India (RBI) press release, the interest rate on these bonds will be reset every six months, the first reset being on January 01, 2021. There is no option to pay interest on a cumulative basis i.e. interest will be payable in every six months instead of having an option to receive it at maturity.
Why choose this product?
Minimum investment of Rs.1,000
No maximum limit on investment
Floating rate of interest with a Half Yearly interest payout
100% risk free investment option
7 years tenure of the bond from the date of issue with a special provision for premature redemption for Senior Citizens.
Who can invest in it?
An Individual, not being a Non-Resident Indian
A Hindu Undivided Family
Eligibility ?
You can apply for the Floating Rate Savings Bonds 2020 (Taxable) if you are:
A person residing in India
In his or her individual capacity, or
In individual capacity on joint basis, or
In individual capacity on anyone or survivor basis, or
On behalf of a minor as father/mother/legal guardian
A Hindu Undivided Family
FAQ
Are the Floating Rate Savings Bonds (Taxable) transferable?
No, these bonds are not transferable.
What are the minimum and maximum limit for investment in the Floating Rate Savings Bonds (Taxable)?
The Bonds will be issued for a minimum amount of Rs. 1000/- (face value) and in multiples thereof. There will be no maximum limit for investment in Bonds.
What is the tenure of the Floating Rate Savings Bonds (Taxable)?
The tenure of the bond is 7 years from the date of issue. No interest will accrue after the maturity of the bond. The bonds shall be repayable on the expiration of seven years from the date of issue. Premature redemption shall be allowed for specified categories of senior citizens. This is similar to the earlier withdrawn 7.75% RBI Taxable Bonds.
Is a nomination facility available?
Yes, a nomination facility is available.
How much tax do I have to pay?
The interest income from the bonds is taxable. TDS (This stands for Tax Deducted at Source, which means the tax you have to pay on your salary is already deducted and the net amount is received by you.) is deducted at the time of interest payment as per the prevailing IT rules.
What are the minimum and maximum limit for investment in the Floating Rate Savings Bonds (Taxable)?
The Bonds will be issued for a minimum amount of Rs. 1000/- (face value) and in multiples thereof.
What is the tenure of the Floating Rate Savings Bonds (Taxable)?
The tenure of the bond is 7 years from the date of issue. No interest will accrue after the maturity of the bond. Premature redemption facility is allowed for investors in the age group of 60 years and above as per RBI’s Notification.
When is the interest payable?
Interest is payable semi-annually from the date of issue of bonds, up to 30th June / 31st December as the case may be, and thereafter half-yearly for the period ending 30th June and 31st December on 1st July and 1st January respectively.
How much interest will the Floating Rate Savings Bonds (Taxable) bear?
The interest rate of the bond would be re-set half-yearly starting with Jan 1st, 2021, and thereafter every July 1st and will be liked with the prevailing National Saving Certificate (NSC) rate with a spread of (+) 35 bps over the respective NSC rate. Accordingly, the coupon rate for the first coupon period i.e. July 1 to Dec. 31, 2020, payable on Jan. 01, 2021 arrives at 7.15% (6.80%+0.35%). All subsequent coupon reset would be based on the fixation of rate of interest on NSC on Jan 01 and July 011 following the above methodology.
How much is the interest and how will be payable?
The interest on the bonds is payable half-yearly on 1st January and 1st July every year. On 1st January 2021, interest shall be payable at 7.15%. The interest rate for the next half-year (which is due on July 1, 2021) will reset every six months, the first reset being on January 1, 2021. There is no option to pay interest on a cumulative basis. This would mean that once the interest on bonds is due, it will be credited to the inve.
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