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26,300cr Using Tax Free Bonds
Most of these bonds are almost of 10 to 15 years of tenure are proposing 50 basis points (100 basis points = 1 percentage point) i.e. higher interest rate compared to original retail investors. The rates of interest for retail investors could range between 7.3 percent and 7.8percent per annum.
Financial planners said that those who come under the highest tax bracket of 30 percent, the annual yield could rise up to 11.5 percent. But Raghvendra Nath, MD, Ladderup Wealth Management said, "But people are not realizing this huge gap in gross returns. Think what could happen if a bank pays 11.5 percent in FDs (fixed deposits). People will just rush to put their money in that bank FD" quoted Economic Times.
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