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Sovereign Gold Bond Latest News: The 7th Tranche subscription starts on Monday.Apply online to take advantage of a discount of Rs 50 per gram

The Sovereign Gold Bond (SGB) 7th Tranche will begin subscription on Monday, October 25, 2021. The last date of your SGB subscription is October 29, 2021.Nominal value of bond based on simple average closing price [published by the India Bullion and Jewellers Association Ltd (IBJA)] For gold of purity 999 on the last three business days of the week prior to the subscription period (October 20, 2021, October 21, and October 22, 2021), it was 4,761 rupees per gram of gold.

Investors applying online will be offered a discount of Rs 50 per gram. Payments for the application must be made in digital mode. For such investors, the issue price of gold bonds is Rs 4,711 per gram.

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SGBs are government securities expressed in grams of gold and are an alternative to holding physical gold. Investors must pay the issue price in cash and the bond will be redeemed in cash at maturity. Bonds are issued by the Reserve Bank on behalf of the Government of India.

SGB ​​is restricted from being sold to residents, HUF, trusts, universities and charities. Bonds are displayed in multiples of gold in the basic unit of 1 gram. The bond has a term of 8 years and after the 5th year there is an exit option that will be exercised on the interest payment date.

The minimum permissible investment amount is 1 gram of gold, and the maximum subscription limit is 4 KG for individuals, 4 Kg for HUF, trusts and similar entities per fiscal year (April-March) notified by the government from time to time. It is 20Kg. time.

Bond payments can be made by cash payment (up to £ 20,000), demand draft, check, or electronic banking. Gold Bond issuance prices are £ 50 cheaper per gram when subscribing online and paying in digital mode.



Sovereign Gold Bond Latest News: The 7th Tranche subscription starts on Monday.Apply online to take advantage of a discount of Rs 50 per gram

Source link Sovereign Gold Bond Latest News: The 7th Tranche subscription starts on Monday.Apply online to take advantage of a discount of Rs 50 per gram

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