The third series of the Sovereign Gold Bond (SGB) Scheme for the year 2020-21 is scheduled to open for subscription from today, June 8. These bonds are issued by the Reserve Bank of India (RBI). The Sovereign Gold Bonds are a part of the Union Government’s market-borrowing programme.
Sovereign Gold Bond Scheme Price
In the third trance, the RBI has fixed the issue price of the Sovereign Gold Bond Scheme 2020-2 at Rs 4,677 per gram of gold. Those who are using digital mode to purchase and pay will get a discount of Rs 50 per gram.
Sovereign Gold Bond Scheme Interest Rate and Lock-in
The SGBs come with a fixed-rate of 2.5% per annum is applicable, which is payable semi-annually. The lock-in period is fixed at eight years. However, one can avail the exit option after five year. The same can be applied on the date of payment of interest as well.
Sovereign Gold Bond Scheme Buyers and Sellers
These SGBs can be bought by individuals, Hindu Undivided Families (HUFs), charitable trusts and universities. You can invest in them through commercial banks, Stock Holding Corporation, designated post offices and stock exchanges BSE and NSE.
Sovereign Gold Bond Scheme Purchase Limit
For an individual or HUFs, the investment is fixed at a minimum of one gram and a maximum of four kilograms of gold in a given financial year. For trusts and universities, the limit is up to 20kg in a financial year.
Sovereign Gold Bond Scheme Dates
This is the third series of the scheme. There are six schemes in a financial year. Here are the other three for this financial year:
· 2020-21 Series IV: July 6-10, 2020
· 2020-21 Series V: August 3-7, 2020
· 2020-21 Series VI: August 31-September 4, 2020
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