Savings Bonds - FAQs

Resident Individual & HUF

• in her or his individual capacity, or
• in individual capacity on joint basis, or
• in individual capacity on any one or survivor basis, or
• on behalf of a minor as father/mother/legal guardian

Subscription to the bonds will be in the form of cash (upto 20,000/- only)/drafts/cheques or electronic mode (NEFT/RTGS) acceptable to the Bank

No. The savings bonds are not transferable.

The minimum investment for a bond is Rs. 1000.

- Application Form

- KYC Documents (Id & Address proof as per Bank Guidelines)

- Cancelled Cheque

- Contribution for investment

The bonds mature on the expiration of a period of 7 years from the date of issue.

Interest on the Bonds will be taxable under the Income-tax Act, 1961 as applicable according to the relevant tax status of the Bonds holder/s.

Tax will be deducted at source while making payment of interest on the Bonds