Sovereign Gold Bond Scheme 2021-22 – Series IV : The sale of Sovereign Gold Bond Scheme 2021-22 – Series IV of the fourth series of Sovereign Gold Bond Scheme 2021-22 will start from July 12 and will run till July 16. The issue price of this series has been fixed. RBI said on Friday that the price of gold per gram in this series will be Rs 4,807. Applying online for the bond will get a discount of Rs 50 per gram. That is, the issue price of one gram of gold bond for such investors will be Rs 4,757.
The issue price of the third series of Sovereign Gold Bond Scheme 2021-22 was Rs 4889 per gram. It was opened for subscription between May 31 and June 4. The government had announced that it would bring six installments of Sovereign Gold Bond (SGB) between May 2021 and September 2021. RBI issues this bond on behalf of the government. Rs 25,702 crore was raised from the third series of Sovereign Gold Bonds till the end of March 2021. RBI has launched 12 bond series worth Rs 16,049 crore (32.35 tonnes).
Where to buy Sovereign Gold Bonds
All banks, except Sovereign Gold Bond Small Finance Bank and Payment Bank, Stock Holding Corporation of India (SHCIL), designated post offices recognized stock exchanges, National Stock Exchange of India Limited (NSE) and Bombay Stock Exchange Limited ( BSE) can be purchased.
Fixed interest will be available every year
Investors of Sovereign Gold Bond (SGB) will get a fixed interest every year. The rate of interest is 2.5 per cent per annum. This interest will be available on half yearly basis. However, it is added to income from other sources of taxpayers. Apart from this, the quantity of gold for which the investor has paid is completely safe.
What is the maturity period?
Sovereign Gold Bond (SGB) has a maturity period of eight years. But after five years, you can exit the bond on the next interest payment date. In Sovereign Gold Bond, the investor is required to invest at least one gram of gold. If needed, the investor can also take a loan against the sovereign gold bond, but the gold bond will have to be pledged.
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Who can buy Sovereign Gold Bond?
Any individual and Hindu undivided family can buy gold bonds up to a maximum value of 4 kg. For trusts and other similar institutions, this limit has been kept up to the equivalent price of 20 kg of gold. Sovereign Gold Bond can also be bought as a joint customer. It can also be bought in the name of a minor. In the case of a minor, his parent or guardian has to apply for the Sovereign Gold Bond. The KYC rules for buying Sovereign Gold Bonds will be the same as applicable for buying normal gold.
The post Sovereign Gold Bond Scheme 2021-22 – Series IV: The fourth series of Sovereign Gold Bond Scheme will open on Monday, 1 gram of gold will be available at this price appeared first on Business Khabar.