The Government of India has launched 7.75% Savings (Taxable) Bonds, 2018 scheme to enable resident citizens/HUF to invest in a taxable bond, without any monetary ceiling. This new saving scheme will commenced on 10th January 2018.
Earlier, the finance ministry said that the subscription of 8% government savings (taxable) bonds 2003, will be closed with effect from 2nd January 2018.
The government had started the 8% government savings (taxable) bonds in 2003 to persuade retail investors to invest.
The bond had 6 years of fixed tenure and there was no upper limit for investment.
The decision to discontinue the bond taken in the backdrop of declining interest rate in other saving instruments, especially the Post Office small saving schemes.
Key facts of Bonds
DISCLAIMER: JPL and its affiliates shall have no liability for any views, thoughts and comments expressed on this article.