IFCI Infrastructure bond for tax savings

IFCI Infrastructure Bonds offer four interest rate options: Buyback/Non-Cumulative, Buyback/Cumulative, Non-Buyback/Non-Cumulative, and Non-Buyback/Cumulative. The face value of the bonds is Rs. 5,000, with a minimum application of one bond in multiples of one bond. The bonds come with or without a buyback option, and the coupon rate is either 8% per annum with annual compounding or 8.25% per annum with annual compounding. Interest is paid yearly, and the coupon payment date is January 31 every year. The buyback option is available annually from 2016 to 2020, and the maturity date is January 31, 2021. The redemption amount varies based on the year, and interest is taxable but not subject to TDS. Demat accounts are mandatory, and maximum tax benefits under section 80CCF of the Income Tax Act, 1942, are Rs. 20,000. Please make cheques or demand drafts payable to "IFCI Limited - Infra Bond."