Sovereign Gold Bond (SGB)Scheme 2021-22: Subscription for series X opens from February 28

 

Sovereign Gold Bond (SGB)Scheme 2021-22: Subscription for series X opens from February 28

Sovereign Gold Bond(SGB)


The Sovereign Gold Bond (SGB) scheme 2021-22 Series X will be open for subscription for the period from February 28 to March 4, 2022.


Sovereign Gold Bond (SGB)Scheme: The Sovereign Gold Bond Scheme 2021-22- Series X will remain open from February 28, 2022 to March 04, 2022 as per a release from the Reserve Bank Of India(RBI). RBI has fixed the SGB series X price at Rs 5.109. per gram.

Now, before investing in this series of SGB scheme you should know the important pointers of this scheme.

What is Sovereign Gold Bond?

Sovereign Gold Bond is issued by RBI on behalf of Government of India. The scheme was first launched in November 2015 with an objective to reduce the demand for physical gold and to shift a part of domestic savings into financial savings. And to encourage digital mode of buying gold, as it has a number of benefits as against physical gold.

Where to buy (Sovereign Gold Bond)SGB?

This bond will be sold through banks, Stock Holdings Corporation of India Limited(SHCIL), designated post offices and recognised stock exchanges -- National Stock Exchange of India Limited and Bombay Stock Exchange Limited.

Tenure of the Bond: The tenure of the bond is for 8 years with an exit option after 5th year.

Minimum Permissible Investment: The minimum permissible investment is one gram and maximum subscription is 4 kg for individual investor, 4 kg for HUFs and 20kg for trusts in a financial year.

How price of the Bond is fixed?

Price of the Bond is fixed on the basis of simple average of closing price of  999 purity gold, published by the India Bullion and Jewellers Association Limited(IBJAL) for the last three working days of the week preceding the subscription period.

Price of the SGB Bond - Price of the Bond is fixed at Rs 5,109 per gram of gold by Reserve bank of India(RBI). However investor buying SGB in digital mode will get a discount Rs 50 per gram of gold.

Interest on Sovereign Gold Bond -  The interest on SGB is fixed at 2.50 percent per annum, which is to be paid to investors bank account directly. The interest is paid semi-annually to the investor irrespective of the price of the gold.


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