Sovereign Gold Bond Scheme: 2nd series to open tomorrow; price, discount, minimum and maximum limit- All you need to know
Second Sovereign Gold Bond Scheme: The interesting aspect of the scheme is that if an investor will apply and pay for Second Sovereign Gold Bond online, then the Reserve Bank of India (RBI) will offer a discount of Rs 50 per gram.
Second Sovereign Gold Bond Scheme: The Second series of the Sovereign Gold Bond Scheme will open for subscription from tomorrow. The issue price of the Scheme for the current fiscal will be Rs 5,197 per gram, as per the government announcement.
The SGB scheme will open for subscription from Monday and will close after 5 days on August 26.
"Don't miss out on this golden opportunity! SOVEREIGN GOLD BONDS SCHEME 2022-23 SERIES – II opens from 22 Aug to 26 Aug. Know more: https://sbi.co.in/web/personal-banking/investments-deposits/govt-schemes...," State Bank of India tweeted.
The interesting aspect of the scheme is that if an investor will apply and pay for Second Sovereign Gold Bond online, then the Reserve Bank of India (RBI) will offer a discount of Rs 50 per gram.
The scheme is valid for a period of eight years and it carries an option of premature redemption after the fifth year. This option can be availed on the date when interest is payable.
These gold bonds are issued by RBI on behalf of the Government. These are available for individuals, charitable institutions, trusts and Hindu Undivided Families (HUFs). The maximum permissible subscription limit for individuals and HUFs would be 4 kg, while it would be 20 kg for trusts per fiscal year as notified by the Government periodically.
The minimum allowed investment limit is one gram of gold, a statement issued by the Finance Ministry said.
Sovereign Gold Bond Scheme was launched by Govt in November 2015, under Gold Monetisation Scheme. Under the scheme, the issues are made open for subscription in tranches by RBI in consultation with GOI. RBI Notifies the terms and conditions for the scheme from time to time. The subscription for SGB will be open as per the following calendar. The rate of SGB will be declared by RBI before every new tranche by issuing a Press Release.
As per RBI instructions “Every application must be accompanied by the ‘PAN Number’ issued by the Income Tax Department to the investor(s)’’ as the PAN number of the first/ sole applicant is mandatory.
(With the inputs of IANS)
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