The news that the sensational senses for 'saving' in the bank, read it quickly

New Delhi For those who have kept savings in Bangkok, a big news has come from the Indian government. This news probably could give them a big jolt. Click to know more ...

On Monday, the government announced the closure of the Government of India's savings bonds 2003 on January 2, which is given 8% interest. These bonds are quite popular as compared to small and fixed deposits due to high interest rates.
In a statement here, the Finance Ministry said that the Government of India will close the savings (taxable) bond, 2003 Tuesday (January 2, 2018) with the termination of banking business as well as for subscription.
6 years is the period of bonds
The duration of these bonds is 6 years and the minimum investment can be Rs. 1,000. While there is no maximum investment limit. There is an option to avail interest on a half-year basis and these are available only in physical form and it is not listed on any stock exchange and their business can not be done.
Interest on these bonds seems to be minor. Therefore, these bonds were quite popular due to fixed income among senior citizens and pensioners.

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