Sovereign gold bond: The first sale of Sovereign gold bond for the financial year 2021-22 will start from May 17.
Sovereign Gold Bond
If you are planning to buy gold, then there is good news for you. The first sale of Sovereign gold bond for the financial year 2021-22 will be open for 5 days starting from 17 May ie Monday. The Finance Ministry said in a statement on Wednesday that Sovereign Gold Bonds will be issued in six installments between May and September. Under the first installment of FY 2021-22, purchases can be made between May 17 and 21 and bonds will be issued on May 25.
When will Sovereign Gold Bonds be sold?
After this, subscription will open for the second series from 24 May to 28 May. Subscribers in this period will be issued gold bonds on 1 June. After this, the subscription of the third series will open from 31 May to 4 June, Touthi series from 12 July to 16 July. The issue date for the third series is June 8, while the bond issue date for the fourth series is July 20.
After this, the fifth series will be open from August 9 to August 13 and the sixth series from August 30 to September 3. On August 17, where there will be a gold bond issue of the fifth series, there will be a gold bond issue of the sixth series on September 7.
Will be able to shop from here
According to the ministry, the bonds will be sold through the Stock Holding Corporation of India Limited, designated post offices and recognized stock exchanges, the National Stock Exchange of India Limited and the Bombay Stock Exchange Limited. Small finance banks and payment banks will not be allowed to sell bonds. These bonds will be issued by the RBI on behalf of the Government of India.
50 rupees per gram discount on online purchases
The Finance Ministry said that the price of gold bond will be at the normal average price of the price issued by the India Bullion and Jewelers Association Limited. This price will be the average price of gold of 99.9 purity during the last three business days of the week before the investment period. Those paying online or digital to buy bonds will get a rebate of Rs 50 per gram in the bond price.
How much can we invest in minimum
The bond will have a duration of 8 years, in which there will be an option to withdraw from the bond on the next interest payment date after five years. Investment in gold bonds can be done as per the basic unit of one gram. At least one gram of gold will have to be invested.
According to the statement, any person and a Hindu undivided family can buy bonds up to a maximum of 4 kg, while the maximum purchase limit for trusts and similar entities is 20 kg.
Know your customer to buy bonds (KYC) norms will be the same as buying gold from the market. The government’s sovereign gold bond scheme started in November 2015.
read this also- Akshaya Tritiya 2021: Gold Mutual Fund vs Gold ETF, know what to invest in economically
read this also- SBI Customers note, know how the bank charges on ATM transactions, full details