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Floating Rate Savings Bond, 2020 (Taxable) – FRSB 2020

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Salient Features

Highlights of the Scheme (FRSB-2020)
1 Eligibility The Bonds may be held by a person resident in India :
  • in her or his individual capacity.
  • in individual capacity on joint basis.
  • in individual capacity on any one or survivor basis.
  • on behalf of a minor as father / mother / legal guardian.
  • Hindu Undivided Family.
2 Deposit
  • Minimum Deposit- Rs.1000/- and in multiples of rs.1000/-.
  • Maximum Deposit- No Limit.
3 Duration 7 years from the date of issuance
4 Subscription Subscription to the bonds will be in the form of cash (upto 20,000/- only) / drafts / cheques or any electronic mode.
5 Rate of Interest (Floating)
  • Option - The interest on the bonds will be payable at half yearly intervals on Jan 1st and July 1st every year. There is no option to pay interest on cumulative basis.
  • Rate - The coupon rate on FRSB 2020 (T) for the period January 01, 2025 to June 30, 2025 and payable on July 1, 2025 remains at 8.05% (7.70%+0.35%), unchanged from the previous half-year.
  • Base Rate - The coupon rate will be linked / pegged with prevailing National Saving Certificate (NSC) rate with a spread of (+) 35 bps over the respective NSC rate.
6 Tax Benefits Income from the bonds is taxable. Tax will be deducted at source while interest is paid (as per scheme guidelines).
7 Nomination The sole Holder or all the joint holders may nominate one or more person.
8 Premature Closure Available as per scheme guidelines
9 Others
  • The bonds are not transferable. Transferability is limited to nominee(s)/legal heir in case of death of holder.
  • The bonds are not tradable in the secondary market and also not eligible as collateral for availing loans.
10 Contact Us

Government Services Section,
Government Services Vertical,
Strategy, Resources & Government Services Wing,
Head Office Annex., New Delhi- 110092,
Email – hogovtacs@canarabank.com
Contact No. - 1800 1030
11 Application forms

Download: (frsb_FORMS.pdf)pdf icon (.pdf - 517.32 KB)

You can apply through following modes :

  • Online Mode :
  • Offline Mode :
    • Visit nearest branch of Canara Bank.
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01-04-2026 01:15 AM

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