Key Points of 8% Savings (Taxable) Bonds, 2003
The Reserve Bank of India has outlined the guidelines for premature encashment of 8% Savings (Taxable) Bonds, 2003 for individual investors.
Encashment Rules:
The entire amount invested through a single application can be encashed prematurely.
Partial Encashment:
Partial encashment is allowed, and investors can encash a part of their investment.
Form 1A:
Investors need to submit Form 1A to initiate the premature encashment process.
Interest Payout:
The bonds offer both non-cumulative and cumulative interest payout options.
Interest Rate:
The bonds carry an interest rate of 8% per annum.
Encashment Amount:
The amount payable per `1000 invested will be as per the prescribed schedule.
Chat with the Master Circular:
Download: 8% Savings (Taxable) Bonds, 2003 – Premature Encashment