Hi ,
I got the below information. Your esteemed thought on this is highly appreciated.
Fantastic investment opportunity from our Country’s premier Bank – State Bank of India.
- Public issue of Bonds for Rs.500 Crs. with option to retain oversubscription upto Rs.500 Crs, totalling Rs.1000 Crs.
- Issue opens on 18/10/2010 & closes on 25/10/2010.
- Allotment only on ” first come first serve” basis.
- 9.50% interest for 15 years Bonds & 9.25% interest for 10 years Bonds.
- NO TDS – whatever may be the interest amount.
- No lock in period
- Listing in NSE to ensure liquidity
- Applications for upto Rs.5 lacs will be come under Retail category.
- “AAA/Stable” rating by CRISIL & “CARE AAA” rating by CARE.
I find the following very attractive:
1) 9.5% for 15 years….. currently FD interest rate is 7.5% only.
2) No Lock in Period and is going to listed in NSE for liquidity. In case if FD rates go up or some other better opportunity pops up we can switch over by selling these bonds.
3) No TDS.
4) SBI is offering this… govt will back it no need to worry abt any risk.
Regards,
Rajendran. N