The next portion of the Sovereign Gold Bonds (SGB) scheme 2021-22 is set to open for subscription on October 25.
Finance Ministry statement said the duration for the subscription of Series-VII is to be from October 25-October 29, and bonds will be issued on November 2.
The next portion of the Sovereign Gold Bonds (SGB) scheme 2021-22 is set to open for subscription on October 25.
The duration for the subscription of Series-VII is to be from October 25-October 29, and bonds will be issued on November 2, said a statement by the finance ministry.
According to the statement, the issue price has been fixed at Rs 4,765 per gram of gold.
Discount for digital buyers
The issue price of the gold bonds will be Rs 50 per gram less for those who subscribe digital and pay through online mode, reported Mint.
How to buy Sovereign Gold Bonds?
The bonds will be sold through banks (except small finance banks and payment banks), Stock Holding Corporation of India Limited (SHCIL), Clearing Corporation of India Limited (CCIL), designated post offices, and recognised stock exchanges (National Stock Exchange of India and Bombay Stock Exchange).
Term
The term of the bond will be for eight years with an exit option after the fifth year that can be availed on the next interest payment dates. The investors will be compensated at a fixed rate of 2.50 per cent per annum payable semi-annually on the nominal value.
Minimum and maximum investment
The minimum allowable investment will be 1 gram of gold. The maximum limit of subscription shall be 4 kg for individuals, 4 Kg for HUF and 20 kg for trusts and similar entities per fiscal (April-March).
Last year, the government had announced SGBs in six tranches from May to September 2021. The fourth tranche of SGB 2021-22, which was sold from July 12 to 16, was offered at Rs 4,807 per 10 gm. The May tranche was sold at Rs 4,889 per gm.