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saluslab.com Option A - Interest payable half-yearly:
- Promissory Notes:
Under this option an investor will get interest at the rate of 8.5% per annum
payable at half yearly intervals from the date of issue of bond in terms of
sub-paragraph (I) of paragraph (5) above. The interest will be paid from the
date of issue of bonds upto 30th June/31st December as the case may be and
thereafter half yearly on 30th June and 31st December by means of post dated
interest warrants sent to the investor in advance alongwith the Promissory
Note. The interest warrants would be valid for three months from the date
of issue.
- Bond Ledger Account:
In case of Bond Ledger Account, by credit to the Bank account of
the holder or by interest warrants or cheques.
Option B - Cumulative interest payable on maturity:
Under this option interest at the rate of 8.5% per annum
would be compounded with half yearly rests and will be payable to the investor
on maturity alongwith the principal. Further interest at the rate of 8.5% per
annum shall be payable to such of the investors who do not encash their bonds
on the expiry of 5 years from the date of their issue, at half yearly intervals
or compounded with half yearly rests, as the case may be. Such interest would
be payable from the date of maturity till the time the bonds are redeemed.
