Sovereign Gold Bonds Latest News: Series VI open now - Price Rs 4,682 per gram – online DISCOUNT at Rs 50; issuance date; BENEFITS – tax benefits, purity, Sovereign Guarantees
Sovereign Gold Bonds Latest News – Amazing opportunity to buy Gold ahead of festive season. The SGB Series VI will be open for purchase from today. Investors can buy Gold at just Rs Rs 4,682 for 1 gram of Gold. This is the price of 1 gram of Gold via online mode. The RBI offers SGB at a discount of Rs 50 if it is bought via online modes
Sovereign Gold Bonds Latest News – Amazing opportunity to buy Gold ahead of festive season. The Sovereign Gold Bond (SGB) Series VI will be open for purchase from today. The investors can buy Gold at just Rs Rs 4,682 for 1 gram of Gold. This is the price of 1 gram of Gold via online mode. The Reserve Bank of India (RBI) offers SGB at a discount of Rs 50 if it is bought via online modes.
The subscription is open till 3 September and the date of issuance is 7 September.
See Zee Business Live TV Streaming Below:
The government announced six tranches of SGB Series in May 2021. This is the final opportunity to buy Gold at a discount with sovereign guarantees.
The nominal value of the bond based on the simple average closing price (published by the India Bullion and Jewellers Association Ltd (IBJA)) for gold of 999 purity of the last three business days of the week preceding the subscription period - August 25, August 26 and August 27, 2021 works out to Rs 4,732 per gram of gold.
Five tranches of SGB have already been sold.
The Sovereign Gold Bonds are issued by the Reserve Bank of India (RBI) on behalf of the government.
SGBs are government securities denominated in grams of gold and are substitutes for holding physical gold. Investors have to pay the issue price in cash and the bonds will be redeemed in cash on maturity. The Bond is issued by the Reserve Bank on behalf of Government of India.
The payment for the Bonds will be through cash payment (up to a maximum of Rs 20,000) or demand draft or cheque or electronic banking. The issue price of the Gold Bonds will be Rs 50 per gram less for those who subscribe online and pay through digital mode.
The Bonds will be denominated in multiples of gram(s) of gold with a basic unit of 1 gram. The tenor of the Bond will be for a period of 8 years with exit option after 5th year to be exercised on the interest payment dates.
SGB are restricted for sale to resident individuals, HUFs, Trusts, Universities and Charitable Institutions. The minimum permissible investment is 1 gram of gold while the maximum limit for subscription is 4 kg for individual, 4 kg for HUF and 20 Kg for trusts and similar entities per fiscal (April-March) notified by the Government from time to time.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.