Saturday, March 3, 2012

Rural Electrification Corporation Limited (REC Tax Free Bonds)

We take immense pleasure in informing that you can now apply for the Rural Electrification Corporation Limited (REC Tax Free Bonds).The issue is opening on 06th March 2012.

Sr. No.
Particulars
Rate/Date
1
Rate of Interest for 10 Years Tenure
8.12% p.a. (payable annually) for Retail (Applying for amount aggregating Upto Rs.1 lacs) and 7.93% p.a. (payable annually) for HNI (Applying for amount aggregating to above Rs.1 lacs)
2
Rate of Interest for 15 Years Tenure
8.32% p.a. (payable annually) for Retail (Applying for amount aggregating Upto Rs.1 lacs) and 8.13% p.a. (payable annually) for HNI Applying for amount aggregating to above Rs.1 lacs)
3
Credit Rating
„CRISIL AAA (Stable) by CRISIL Limited „CARE AAA by CARE
„ICRA AAA by ICRA „Fitch AAA ( ind ) by FITCH
4
Date of Opening of Issue
06th March 2012
5
Date of Closing of Issue
12th March 2012
6
Trading
Proposed BSE, Trading only in Demat Form
7
Lock in period
Nil
9
Minimum Application Size
Rs 5000 (5 Bonds) and in multiple of Rs. 1000
(1 bonds) thereafter

10
Basis of Allotment
First-come First-serve basis

  
Please note that these bonds are not eligible for deduction u/s 80CCF of Income Tax Act.

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