The government has announced the launch of Taxable bonds without any monetary ceiling from Wednesday next week. Bonds are open for investments by Individuals and Hindu Undivided Family. However, Non-Resident Indians are not eligible for making investments in these bonds. The bonds will be issued with a minimum amount of 1,000 rupees and in multiples thereof. The bond will be issued in the demat form. The Bonds will have a maturity of 7 years carrying interest of 7.75 per cent per annum which will be payable half-yearly. Interest on the bonds will be taxable as applicable under Income-tax Act. The Bonds are neither transferable nor tradable in the secondary market.