Ask your Question
   (100 characters left)
Search for questions:      Advanced
Credit Cards
Car Loans
Home Loans
Personal Loan
Education Loans
Fixed Deposits
Savings Accounts
Miscellaneous
Bank ATM Auto Loan Bad credit Loan Recovery Recovery Agents Indian Bank Canara Bank Corporation Bank Loan Calculator credit card fraud HSBC Bank Vijaya Bank Deutsche Bank Credit history Credit score Used car loan Saving Account Fixed Deposit Loan Finance ICICI Bank RBI SBI Disha HDFC ABN Amro CitiBank EMI Calculator Kotak PNB Barclays Home Loan Personal Loan Credit Card Interest rate
Resolved Question:
Show me another
What is RBI bond. What is the rate of interest. Is it Tax Saving?
In Miscellaneous  -  Asked by IIMABCL -  5 years ago

Best Answer:
It is RBI Relief Bond. The tenur is 5 years and you get 8% per cent interest and is completely tax free. You can invest minimum of Rs 1000 and the maximum Rs 2 lakh per individual per year (365 days from the day you first invest in the bond; it does not refer to calendar or financial year).
Here are some of the more elaborate details:
• You may invest in your name, or on behalf of a minor, or jointly with others. Non-residents are allowed to invest too.
• Sorry, no premature encashment allowed here. You may take a loan against these bonds. Any bank
would be willing to lend against them.
• RBI Bonds are issued in two forms - either as promissory notes (like bonds of other institutions) or by an entry in the Bond Ledger Account with the RBI itself. The second choice is a bit complicated. Also, you can't switch from one form to another.
• The bonds in the form of Bond Ledger Account can be transferred by execution of a transfer deed in the prescribed form. However, transfer will be considered complete only when the name of the buyer (transferee, in jargon) is registered in the office that issued the bonds. A new Bond Ledger Account will be opened in the name of the transferee for the remaining period by closing your account.
In contrast, RBI Bonds in the form of a promissory notes can be transferred by simple endorsement and delivery.
• What if you are not a retiree but a safety freak and want to gobble up these bonds above the Rs 2 lakh limit? Yes, there is a way out. Maybe after buying Rs 2 lakh worth of bonds in the primary market directly from the RBI or through banks, you can pick up some more from the secondary market (get in touch with a broker to tell you how). There is no upper limit for purchases there. But there is one caveat: only RBI Bonds issued before March 2002 can be bought from the secondary debt market.
• Don't touch RBI Relief Bonds if you are looking for terrific capital appreciation or a substantial margin over inflation. An eight per cent return offers neither. But there is no better deal when it comes to safety. No need to fret over credit ratings. If you are a retiree or a VRS beneficiary, you may lock in any amount for years and opt to generate a regular income by opting for six-monthly cheques.
• RBI Bonds are sold at RBI branches and through a number of commercial bank branches. Check with your bank. They may be selling it.
You can download form of RBI savings bonds from RBI website: http://www.rbi.org.in/Scripts/BS_ViewForms.aspx
5 years ago - By Ajay

Other Answers (2)
show:
Answer 1.
The fixed deposit is also the best option for saving tax.
5 years ago - By Dinki
Answer 2.
There are various option of investments so before investing check everything carefully.
5 years ago - By Shalini
Answer: Open Questions RSS
call 09915342912 shimla escort service call girl service in shimla manali kullu high class escort
Ⓐⓒⓣⓘⓥⓘⓣⓨ ⒺⓈⒸⓄⓇⓉ ⓈⒺⓇⓋⒾⒸⒺⓘⓝ Ⓓⓦⓐⓡⓚⓐ Ⓓⓔⓛⓗⓘ Ⓒⓐⓛⓛ ➒➎➑➋➑➊➍➒➑➑●Ⓓⓐⓣⓔ
➋Ⓖ ⒺⓈⒸⓄⓇⓉ ⓈⒺⓇⓋⒾⒸⒺ ⓘⓝ ⓟⓐⓗⓐⓡⓖⓐⓝⓙ ⓓⓔⓛⓗⓘ Ⓝⓒⓡ Ⓒⓐⓛⓛ ⓐⓚⓐⓢⓗ ➒➎➑➋@➋➋➒➐➐●Ⓓⓐⓣⓔ ➋➊/➓➎➓➊➎
Ⓐⓘⓡⓣⓔⓛ ⒺⓈⒸⓄⓇⓉ ⓈⒺⓇⓋⒾⒸⒺ ⓘⓝ Ⓛⓐⓧⓜⓘ Ⓝⓐⓖⓐⓡ Ⓓⓔⓛⓗⓘ Ⓒⓐⓛⓛ ➒➎➑➋➑➊➍➒➑➑●Ⓓⓐⓣⓔ
ⒹⓘⓛⓏⓐⓛⓔ Ⓖⓘⓡⓛⓢ ⒺⓈⒸⓄⓇⓉ ⓈⒺⓇⓋⒾⒸⒺ ⓘⓝ Ⓝⓞⓘⓓⓐ ⓢⓔⓒ ➎➏ Ⓒⓐⓛⓛ Ⓡⓐⓒⓗⓘⓣ ➒➎➑➋O➋➋➒➐➐ ●Ⓓⓐⓣⓔ
View All
Discover: Resolved Questions RSS
Pune call girls 9130308880 Pune Sex Service 9130502223 Pune Russian Escorts N Sex Service ???
FEMÄLE ÉSCÖℝT _995371__nitu__0545 SERVIÇES FEMÄLE ÉSCÖℝT GíRL ÉSCÖ&#
VIP Delhi Independent Female Escort For Elite Peoples
Hi-Class College Call Girls, 9860898978 Female Escorts 9130308880, Sex Service,Call Girls In Pune ??
Pune Call Girls 9860898978/ 9158400005 female escort vip sex model college girls sex service in pune
View All
Vote: Undecided Questions
No question found.
COMPARE RATES
Compare Car Loan Rates for a used car
Get best bank for Home Loan
Best FD rates by banks
Show All...
COMPARE QUICKLY
 Select a product:
 

CALCULATORS
More Calculators...
CALCULATE QUICKLY
 Select a product:
 

NEWS THIS WEEK
FinMin urges RBI to let real estate, broking firms enter banking sector Jan 21, 2013
Base rate hiked by three more banks Jul 4, 2011
Base rate, FD rates raised by StanChart Bank Dec 27, 2010
Some Indian bank branches may face closure in UK Sep 10, 2014
SIDBI advises new NBFCs to offer factoring services Jul 16, 2012
News Archive
EDITORS' PICKS
All about Vintage/Classic car insurance in...
An insight into two wheeler insurance
Tips to reduce Auto Insurance Premium
Must have add-ons for luxury car insurance
Some New Ways to Save on Your Car...