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 06^th 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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