Sovereign Gold Bond scheme opens for subscription. Check price and other details
RBI) has fixed the price at Rs 6,199 per gram. For investors willing to apply online, there is a discount of Rs 50 per gram and the issue price is Rs 6,149 per gram.
The public issue of SGB Scheme 2023-2024 Series III will close on Friday, December 22.
Payment for the SGBs can be made through cash payment permitted up to a maximum of Rs 20,000 or via demand draft, cheque, or electronic banking.
The price of SGB is based on the simple average of the closing gold price of 999 purity of the previous three business days from the date of redemption as published by the India Bullion and Jewellers Association Ltd (IBJA). In this case, the three business days are between December 13 and December 15.
Earlier this month, the RBI had announced two fresh issues of SGB 2023-24 — one in December which is ongoing, and the next in February between 12 and 16.
The sale of SGBs is restricted to resident individuals, HUFs, Trusts, Universities and Charitable Institutions.
The gold bond is denominated in multiples of gram(s) of gold with a basic unit of one gram. The tenor of these bonds will be for 8 years with an option of premature redemption after the 5th year to be exercised on the date on which interest is payable.
The minimum permissible investment will be one gram of gold and the maximum limit of subscription will be 4 kg for individuals, 4 kg for HUF, and 20 kg for trusts and similar entities per fiscal year (April-March) notified by the government.
