L & T is issuing the bonds in two series. Basic difference between these is that interest on series 1 will be paid annually and series 2 will be paid on buyback or maturity.
L & T bonds have following Credit Ratings:
CARE AA+
[ICRA] AA+
CARE AA+
[ICRA] AA+
Series | 1 | 2 |
Frequency of Interest | Yearly | Compounded Yearly |
Buyback Facility | Yes | Yes |
Buyback Date | The first Working Day after the expiry of 5 years from the Deemed Date of Allotment and the first Working Day after the expiry of 7 years from the Deemed Date of Allotment | |
Buyback Amount | Rs. 1,000 at the end of 5 years / Rs. 1,000 at the end of 7 years | Rs. 1,538.62 at the end of 5 years / Rs. 1,828.04 at the end of 7 years |
Buyback Intimation Period | The period commencing from 6 months preceding the relevant Buyback Date and ending 3 months prior to such Buyback Date. | |
Maturity Date | 10 years from the Deemed Date of Allotment | 10 years from the Deemed Date of Allotment |
Interest Rate | 9 % p.a. | 9 % p.a. compounded annually |
Maturity Amount | Rs. 1000 | Rs. 2,367.36 |
Yield on Maturity* | 9 % p.a. | 9 % p.a. compounded annually |
Yield on Buyback* | 9 % p.a. | 9 % p.a. compounded annually |
How to apply:
Procedure for applying is very simple and straight forward. Download and fill the form. Filling the form is not a big deal. It asks you for your details like name, address, DOB etc and your demat A/C details. Attach the form with the cheque of the required amount. Submit the form to any of the submission center.
If you not hold demat A/C, you may subscribe for physical form but you need to furnish KYC details. Please remember, this option will attract TDS on returns.
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