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Features & Benefits of RBI 7.15% Floating Rate Savings Bond 2020 (Taxable).The Government of India has announced, with effect from 01 July 2020, to issue Floating Rate Savings Bonds (Taxable) 2020 to enable resident citizens /Minors / HUF to invest in a taxable bond without any upper monetary limit. Floating Rate Savings Bonds (These very popluar RBI Floating Rate Savings Bond 2020 replaced the very very popular 7.75% Savings Bond 2018)
Type of Bond | 7.15% RBI Floating Rate Savings Bonds 2020 ( Taxable ) |
|---|---|
Investment Period | 7 years from from the date of issue. |
Current Coupon (% p.a.)/ Interest Rate i.e Floating Interest Rate. | 7.15% p.a., i.e. based on National Savings Certificate (NSC) rate (Base rate) + 35bps (6.80% + 0.35%) for period 1st July – 31st Dec 2020. The Interest rate remain unchanged , 7.15% p.a. for 01 Jan 2021 to 30 June 2021 at 7.15 % p.a. |
Interest payable and reset criteria | Payable on 1st Jan, 2021. The coupon/interest of the bond will be reset half yearly based on NSC rate (Base rate) + 35bps. Half-yearly interest is payable on 1st January / 1st July in the investor’s bank account . |
Issue Opens on | 01.07.2020 |
Safety | GoI bonds are issued by RBI. They are sovereign in nature & absolutely safe,100% risk free investment. |
Minimum Investment | Rs. 10000/- |
Maximum Investment Rs. | No maximum limit on investment. |
TDS /Taxation | Interest Taxable, Income Tax Act 1961. The bonds will be exempt from Wealth-Tax under the Wealth-Tax Act, 1957. |
Form of the Bonds: | Application to be done in physical mode. Bonds will be issued in Electronic form, held in the Bond Ledger Account (BLA). BLA will be opened by the Receiving Office in the name of investor/s. A certificate will be issued to all investors for each deposit. |
Transferability | The Bonds are non-transferable, non-negotiable and cannot be Offered as a security for any loan or advance. Transferability ( Transmission bonds ) is limited to nominee(s)/legal heir ( Resident Indian & NRI is allowed ) in case of death of holder. |
Maturity / Redemption AMT (Rs. Per bond) | Amount will be credited to your Bank A/c directly. No Need to surrender Bond Certificate. No Signatures required on the Maturity Date |
Cheque / Draft to be drawn in the name of | “HDFC Bank RBI Floating Rate Saving Bond 2020 (Taxable) ” |
Interest payment Mode | Interest payment will be made ONLY by NEFT / RTGS etc. |
Need to open new / separate bank a/c or demat a/c | New or separate bank account is not require for RBI Floating Rate Savings Bonds 2020, Any Bank cheque can be use for investments. Demat A/c not require for investments in FRSB 2020. |
Premature redemption / withdrawal facility for Senior Citizens: | Yes, allowed subject to penalty charges equivalent to 50% of last coupon/interest payment: · for investor in the age bracket of 60 to 70 years after 6 years, · for investor in the age group of 70-80 after 5 years and · for investor in the age exceeding 80 years would be after 4 years from the date of issue. |
Who are eligible to invest in RBI Floating Rate Savings Bond 2020? | · An Individual, (not being a Non Resident Indian) · In his or her individual capacity or · In individual capacity on joint basis or anyone or survivor basis · On behalf of a minor as father/mother/legal guardian · A Hindu Undivided Family (HUF) , Documentation Required |
Who does NOT eligible to invest in RBI Floating Rate Savings Bond 2020? | Following are not eligible to invest in Bonds :- Non Resident Individual (NRI) / Banks / Sole Proprietorship / Partnership Firms / LLP / Companies including group companies / Family trusts / Charitable and Religious Trusts, / Association of Persons, / Co- operative Societies ,etc. |
Application Form Submission Center | Application can be submitted in few appointed banks branches only.(check your location in given list below) |
Application Forms
Take print of the Application Form on A4 paper size. (You need to carry your own printed form, application forms are not available on deposition centers)
Click here to download RBI Floating Rate Savings Bond, 2020 Application Form
RBI Floating Rate Savings Bond Application Form
HUF Declaration for RBI Floating Rate Savings Bond 2020 (Taxable)
Filled Sample Application Form for reference and errors avoidance.
Form 15G Form 15H (for Sr. Citizens)
Application Process and Submission Center
Attach following document along with the application form: –
- PAN Card Photo Copy ( clear ) of all applicants .
- No Address Proof required. Valid mobile number & email id is a must.
- In case the application is submitted by a Power of Attorney (POA) holder, please submit original POA for verification along with an attested copy
- In case the application is on behalf of a minor, please submit the Copy of Municipal birth certificate Matric Certificate from the School
- One Cancelled Cheque / copy of the cheque of the bank where you wish to receive the interest (for ECS/RTGS/NEFT payment of Interest /Maturity Amount.)
- Payment by Cheque or DD (payable at Delhi / New Delhi ) should be drawn in favour of “HDFC Bank RBI Floating Rate Saving Bond 2020 (Taxable) ”
- Keep photocopy of application form for your record. Broker Code to be entered in the form:HBL/RB/MUM/2018-19/0101
- Before submitting your application , please send us an application image / softcopy / photocopy on what app (no. 9811894400 , Email : dua_financial@yahoo.com) to check if something is missing or needs to be corrected.
- Submit / deposit your application form in Listed/ Design Bank Branches. (Request for the list to Search for your city)
- If your location has not mentioned in the list, in that case you have to send Application Form along with above document to below mention address by registered post or courier :-
Dua Capital Private Limited
143, Mount Kailash East of Kailash New, Delhi -110065
Phone No. – 01140453300 , 01149149778 , 9811894400
We will inform you on receipt of your application, will check everything and update you if any this is pending, will submit your form and send you the acknowledgement on Whatsup / Email .
- You need to carry properly filled application forms, submission centers only accept the forms and provide acknowledgement.
- The Acknowledgement copy will suffice as your investment proof(subjest to encashment of the Instrument – Cheque / DD / BC.
- Bond Certificate will be issued within 15 working days from the date of cheque realization.*
- To record and track the status/allotment of your application form, send us the image / soft copy / photocopy on Mobile No 9811894400 (Whats app ) , Email : dua_financial@yahoo.com
- Application Number would be entered by collecting bank.
- Prompt & Efficient Doorstep Services available in Delhi NCR region ONLY .
Application Forms
Take print of the Application Form on A4 paper size. (You need to carry your own printed form, application forms are not available on deposition centers)
Click here to download RBI Floating Rate Savings Bond, 2020 Application Form
RBI Floating Rate Savings Bond Application Form
HUF Declaration for RBI Floating Rate Savings Bond 2020 (Taxable)
Filled Sample Application Form for reference and errors avoidance.
Form 15G Form 15H (for Sr. Citizens)
Application Process and Submission Center
Attach following document along with the application form: –
1] PAN Card Photo Copy ( clear ) of all applicants .
2] No Address Proof required. Valid mobile number & email id is a must.
3] In case the application is submitted by a Power of Attorney (POA) holder, please submit original POA for verification along with an attested copy
4] In case the application is on behalf of a minor, please submit the Copy of Municipal birth certificate Matric Certificate from the School
5] One Cancelled Cheque / copy of the cheque of the bank where you wish to receive the interest (for ECS/RTGS/NEFT payment of Interest /Maturity Amount.)
6] Payment by Cheque or DD (payable at Delhi / New Delhi ) should be drawn in favour of “HDFC Bank RBI Floating Rate Saving Bond 2020 (Taxable) ”
7] Keep photocopy of application form for your record. Broker Code to be entered in the form:HBL/RB/MUM/2018-19/0101
8] Before submitting your application , please send us an application image / softcopy / photocopy on what app (no. 981189440o , Email : dua_financial@yahoo.com) to check if something is missing or needs to be corrected.
9] Submit / deposit your application form in Listed/ Design Bank Branches. (Request for the list to Search for your city)
10] If your location has not mentioned in the list, in that case you have to send Application Form along with above document to below mention address by registered post or courier :-
Dua Capital Private Limited
143, Mount Kailash East of Kailash New Delhi- 110065
Phone no.- 01140453300 , 01149149778 , 9811894400
We will inform you on receipt of your application, will check everything and update you if any this is pending, will submit your form and send you the acknowledgement on Whatsup / Email .
11] You need to carry properly filled application forms, submission centers only accept the forms and provide acknowledgement.
12] The Acknowledgement copy will suffice as your investment proof(subjest to encashment of the Instrument – Cheque / DD / BC.
13] Bond Certificate will be issued within 15 working days from the date of cheque realization.*
14] To record and track the status/allotment of your application form, send us the image / soft copy / photocopy on Mobile No 9811894400 (Whats app ) , Email : dua_ financial@yahoo.com
15] Application Number would be entered by collecting bank.
16] Prompt & Efficient Doorstep Services available in Delhi NCR region ONLY .