Sovereign Gold Bond is opening next week, this is the issue price
In today's time, along with physical gold, you can also invest in digital gold. The government is also running many schemes to promote digital gold. One of these schemes is Sovereign Gold Bond. RBI opens Sovereign Gold Bonds for subscription from time to time. Subscription for Sovereign Gold Bond is going to open next week.
Reserve Bank of India (RBI) is about to open the subscription of Sovereign Gold Bond. Let us tell you that if you want to invest in gold then you can invest in digital gold. The issue price of the next tranche of Sovereign Gold Bond has been fixed at Rs 6,199 per gram. The period for subscription of Soberen Gold Bond is only 5 days.
The Sovereign Gold Bond (SGB) Scheme 2023-24 – Series III will be open for subscription from December 18-22, 2023.
If you want to buy Sovereign Gold Bond, then let us tell you that you can buy it from Scheduled Commercial Banks (except small finance banks, payment banks, and regional rural banks), Stock Holding Corporation of India Limited (SHCIL), Clearing Corporation of India Limited (CCIL). ), designated post offices, the National Stock Exchange, and the Bombay Stock Exchange.
The nominal value of the bond, based on the simple average closing price of gold of 999 purity, works out to Rs 6,199 per gram, RBI said in a statement. The central government, in consultation with the Reserve Bank, has also decided to give a discount of Rs 50 per gram less than the face value to investors who apply online and pay through digital mode.
The central bank said the issue price of gold bonds for investors will be Rs 6,149 per gram of gold. Gold Bond Scheme 2023-24 -Series IV is scheduled for February 12-16. Series I was open for subscription from June 19-23 this year and Series II from September 11-15. In this bond, investors get interest at the rate of 2.50 percent per year. The maximum limit of subscription will be 4 kg for individuals, 4 kg for HUF, and 20 kg for trusts and similar entities per financial year.
The Finance Ministry said the tenure of the SGB will be eight years and the premature repayment option after the fifth year will be exercised on the date on which the interest is payable. The Reserve Bank of India issues bonds on behalf of the central government. Bonds can be used as loans.
Gold can be easily purchased through KYC. The Sovereign Gold Bond Scheme was launched in November 2015 to reduce the demand for physical gold and shift a part of household savings into financial savings used for purchasing gold.
