The 8% Government of India Savings (taxable) bonds, 2003 is a bond issued by the Reserve Bank of India (RBI) commencing April 21, 2003. The bonds are available for purchase by individuals. As the name indicates, the rate of interest offered on the bond is 8% per annum. Interest is taxable in the hands of the investor. Since bonds are issued on behalf of the Government of India, it is the safest investment any investor can look for. However, interest on the bonds is taxable and it has a lock in of six years.
|Maturity Period||6 years|
|Rate of Interest||8.0% per annum (Taxable)|
|Risk Attached||Low Risk|
|Minimum Investment||Rs. 1,000/-|
|Maximum Investment||Unlimited in multiples of Rs.1,000/-|
|Overall Liquidity||Not tradable|
|Date of Issue||Date of realization of the funds|