Sovereign Gold Bond Latest News: The fourth tranche of Sovereign Gold Bond Scheme 2021 will open for subscriptions on Monday for five days. According to latest update, the Reserve Bank of India has fixed the issue price for the latest tranche of Sovereign Gold Bond at Rs 4,807 per gram. “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 July 07, July 08 and July 09, 2021 works out to Rs 4,807/- per gram of gold,” the central bank said.
It must be noted that the Sovereign Gold Bonds was introduced in 2015 and it is government securities denominated in grams of gold. Resident individuals, Hindu Undivided Family (HUF)s, Trusts, Universities and Charitable Institutions are eligible to apply for the subscription of the bonds.
You must note that the minimum permissible investment will be one gram of gold during the subscription window. However, the tenor of the bond will be for a period of 8 years with exit option after fifth year.
The starting investment in the gold bonds will be one gram with a maximum limit of subscription of 4 kg for individuals, 4 kg for Hindu Undivided Family (HUF) and 20 kg for trusts and similar entities. The RBI has clarified that in case of joint holding, the limit applies to the first applicant.
Before buying the customers must know that they can buy gold bonds from commercial banks, Stock Holding Corporation of India Limited (SHCIL), post offices designated by RBI and recognised stock exchanges, either directly or through agents.
Moreover, they can apply online through the website of the scheduled commercial banks. As per the updates, the issue price of the gold bonds will be Rs 50 per gram less than the nominal value to those investors applying online and the payment against the application is made through digital mode.
Discount For Online Subscribers: The customers who want to subscribe the Gold Bond through online, in which the payment is made through any of the digital modes, a discount of Rs 50 per unit is applicable, the RBI has issued guidelines. Moreover, the issue price for the online subscribers is set at Rs 4,757 per gram of gold in the fourth tranche of sovereign gold bonds 2021-22 scheme.
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