SGB latest tranche: What is the interest rate of Sovereign Gold Bond
economictimes.indiatimes.comSovereign Gold Bond (SGBs) are substitutes for holding physical gold and are government securities denominated in grams of gold. The investors must pay the issue price in cash and the bonds will be redeemed in cash on maturity. SGB is issued by the Reserve Bank of India (RBI) on behalf of Government of India.
Latest SGB tranche opens on Monday: 6 ways to invest in Sovereign Gold Bonds
The SGB Series 2023-24 Series IV will open for subscription on February 12, 2024 and will close for subscriptions on February 16, 2024.
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What is the interest rate earned on SGB and when are they paid
The interest rate specified by the RBI on the sovereign gold bond is 2.50%. It will be paid semi-annually. These Bonds will pay a set annual interest rate of 2.50% on the initial investment and credited to the bank account of the investor and the last interest will be payable on maturity along with principal.
Earlier when launched, the RBI had set interest rate of 2.75%. Note that the investor is required to furnish bank account details at the time of application and the interest will only be directly credited to the bank account.
How to buy Sovereign Gold Bonds (SGB) online through SBI, HDFC Bank, PNB, Canara Bank, ICICI Bank
What happens to interest if the bond is sold in the secondary market?
According to the ICICI Bank website, “It is normally adjusted for proportionate interest and adjusted to the price while trading. There is a set process for that.”
Is interest earned on
