Dec 11, 2023, 02:29 PM IST
Sovereign Gold Bonds are RBI-issued government-backed bonds denominated in grams of gold. Here are a few key details about the 2023-24 Series III and IV of the scheme:
The date for subscription for 2023-24 Series III is December 18-22, 2023.
Series IV is scheduled for February 12-16.
The SGBs will be restricted for sale to resident individuals, HUFs, Trusts, Universities and Charitable Institutions.
After the discount of Rs 50, the value of the issue price of the sovereign gold bond will come down to Rs 5,873.
The tenor of the SGB will be for a period of 8 years with an option of premature redemption after 5th year to be exercised on the date on which interest is payable.
Minimum permissible investment will be One gram of gold.
The maximum limit will be 4 Kg for individual, 4 Kg for Hindu Undivided Family and 20 Kg for trusts and similar entities per fiscal year (April-March) notified by the Government from time to time.
The issue prices are yet to be announced.
The investors will be compensated at a fixed rate of 2.5 per cent per year, payable semi-annually on the nominal value.