Investors can link their bank accounts to the retail direct scheme and pay for their purchases through net banking or unified payments interface. You can buy government bonds in primary auctions, where the central and state governments sell their securities in the debt market. This means you can submit bids without specifying a price.
The bonds get allotted to you at a price established by competitive bidding among institutions. Unlike small saving schemes of the Union government such as the Public Provident Fund or National Savings Certificate, there are no special tax benefits on direct purchase of government bonds. The interest on such bonds is taxed at your slab rate. Holding the same bonds indirectly through a mutual fund can be more tax-efficient.
The interest accruing from the bonds with the mutual fund gets added to its net asset value and you do not get taxed until you redeem the units. Never miss a story! Stay connected and informed with Mint. Secondly , A only holder or an only surviving holder of a bond, being an individual, can make a nomination.
Thirdly, and most importantly , The bonds in the form of BLA shall not be transferable except transfer to a nominee s in case of death of the bondholder. Special privilege has been given to senior citizens in this bond, They may take a premature exit after 4, 5 and 6 years based on age group.
Otherwise the interest due for the six months immediately preceding the exit is deducted, in case someone takes the premature exit. An investor can buy these bonds through online from the banks, However, few of them banks offer online service. Time needed: 5 minutes. In the next screen, select the account number from which you wish to apply and enter the investment amount along with nomination option.
Account holder details will be auto-filled. Interest to the subscriber opting will be paid from date of issue up to 30th June or 31st December as the case may be, and thereafter half-yearly for period ending 30th June and 31st December on 1st July and 1st January. Such links are provided only for the convenience of the client and Axis Bank does not control or endorse such websites, and is not responsible for their contents.
The use of such websites would be subject to the terms and conditions of usage as stipulated in such websites and would take precedence over the terms and conditions of usage of www. Any actions taken or obligations created voluntarily by the person s accessing such web sites shall be directly between such person and the owner of such websites and Axis Bank shall not be responsible directly or indirectly for such action so taken.
Thank you for visiting www. Participation to group insurance is voluntary. Benefit from a high interest rate The interest on the bonds is payable half-yearly on 1st January and 1st July every year The interest payable on January 1 and July 1 will be linked to the then prevailing rate of interest on National Saving Certificate NSC.
As of now the rate of interest payable on NSC stands at 6.
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