9.95% interest from SBI Bonds

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State Bank of India has come out with their Lower Tier II Bonds for Rs.2,000 Crores with Rs.1000 Crores reserved for retail investors.

 

In case of oversubscription under retail category, oversubscription will be retained up to the residual shelf limit ( Rs.10,000 Crores ) ONLY at the option of the Bank.

 

Allotment on First Come First Serve basis. Please submit your application forms at our branches well before the banking hours on 21/02/2011.

 

Other issue details :

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Minimum investment Rs.10,000/- and in multiples of Rs.10,000/-. Maximum investment under retail category Rs. 5,00,000/-. 9.95% annual interest for 15 years Bonds & 9.75% annual interest for 10 years Bonds. NO TDS on interest, whatever may be the investment amount. Call option after 10 years for 15 years Bonds & after 5 years for 10 years Bonds. Demat account is must as allotment is ONLY in Dematerialised form. Credit rating - CRISIL "AAA/Stable" by CRISIL & "CARE AAA" by CARE. Listing in NSE & BSE to ensure liquidity.