ICICI Bank has come up with a regular income bond issue. The 10 year option yields 10% p.a interest. There are annual and monthly payout options for interest depending on the option you choose. This bond is also available for 5 year period.( subscription from September 29, 2007 and closes on October 12, 2007.)
In a scenario, where interest rates are seemingly cooling down, this may be a good option . 10% p.a. interest for a 10 year period may be a great boon for those who keenly looking at investments like FD & other low risk investments.
Those who have the zeal to take a bit of risk , can safely avoid this. 10 Year is a good amount of time in which one may get a slightly better than this through equity/balanced funds.