Sovereign Gold Bonds: The government is offering a discount of Rs 50 per gram to those investors applying online.
Sovereign Gold Bonds price: The government has launched the third tranche of Sovereign Gold Bonds (SGBs). The Sovereign Gold Bond 2022-23 Series III tranche which opened on Monday for subscription will continue until December 23. The next or the fourth tranche would be issued on March 14, 2023.
Sovereign Gold Bond Scheme 2022-23 Issue Price
The Government of India has fixed the issue price at Rs 5,409. However, if you want Rs 50 per gram discount, then buy or pay for SGB online. The government has decided to offer a discount of 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.
For such investors, the issue price of a Gold Bond will be Rs 5,359 per gram of gold.
How to buy SGBs?
A customer can apply online through the website of the listed scheduled commercial banks such as the State Bank of India (SBI), HDFC Bank and others.
Sovereign Gold Bonds can also be purchased from Stock Holding Corporation of India Ltd (SHCIL), Clearing Corporation of India Ltd (CCIL), designated post offices and recognised stock exchanges -- NSE and BSE.
What is Sovereign Gold Bond?
SGBs are government securities denominated in grams of gold. They are substitutes for holding physical gold. The Bond is issued by Reserve Bank on behalf of the Government of India.
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Sovereign Gold Bond: Investment Limit
The minimum permissible investment in SGBs will be one gram of gold. The maximum limit of subscription shall 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 from time to time.
Sovereign Gold Bond: Tenure, Premature Redemption
The tenure of the SGB will be for a period of eight years with an option of premature redemption after the fifth year. Premature redemption can be done on the date on which interest is payable.
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