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Who Can Invest?

Individual, HUF, University & Charitable Trust

Minimum/Maximum Investment

Rs.1000/-& in multiples thereof. No upper limit.

Period of investments

6 years

Interest payable

Non Cumulative, payable Half Yearly – on 1stFebruary & 1st August. In case of Cumulative option, interest payable on maturity.

Tax Benefit

Wealth Tax is exempted. Income Tax will be deducted at source while interest is paid.

Forms of Bonds

Bond Ledger Account (BAL). 

Date of Issue of Bonds

Date of receipt of subscription in Cash or date of realization of cheque/draft.

Bank Mandate

It is mandatory for the investors to provide Bank account details to facilitate payment of interest/maturity value.

Nomination Facility

Available – can nominate one or more person as nominee. NRI can be also nominated. However, remittance of the interest/maturity proceeds will be subject to Foreign Exchange regulations prevailing at the time of remittance. Minor also can be nominated.


The Bonds are not tradable/transferable. However, the Bonds shall be eligible as collateral for loans, to creat pledge, hypothecation or lien in favour of scheduled bank for loans against the security of the bonds.

Option of schemes

Non cumulative/ Cumulative. Change of option is not permitted.