NABARD to launch Tax Saving Bonds on Republic Day

Mumbai, Jan 22 (UNI) The National Bank for Agriculture and Rural Development (NABARD) is launching the NABARD Rural Bonds on January 26.

Subscription to these Bonds will be eligible for deduction under 80 (c) of IT Act 1961. The issue price is Rs.1000 per Bond with minimum subscription of five Bonds and thereafter in the multiples of one Bond, a NABARD statement issued here today said.

The Bonds will be of five years tenure and will carry a coupon rate of 8.25 per cent for general public and 8.75 per cent for senior citizens.

The Bonds can be held in both physical as well as demat form, the release added.

UNI MR OBB VKG1856