NABARD to launch tax saving bonds on Jan 26

MUMBAI: The National Bank for Agriculture and Rural development (NABARD) will launch its NABARD Rural Bonds on Republic Day (January 26).
    
The issue price is Rs 1,000 per bond with a minimum subscription of five bonds and thereafter in multiples of one bond, a press release issued here on Tuesday stated.
    
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.
    
Subscription to these bonds will be eligible for deduction under 80 (c) of IT Act, 1961, the release said.