homepersonal finance News

Sovereign Gold Bond Scheme Series VII opens for subscription today: All you need to know

Sovereign Gold Bond Scheme - Series VII opens for subscription today: All you need to know

Sovereign Gold Bond Scheme - Series VII opens for subscription today: All you need to know
Profile image

By CNBCTV18.com Oct 25, 2021 11:10:32 AM IST (Published)

Follow real-time updates on Union Budget 2023Catch exclusive videos on Union Budget 2023 from CNBC-TV18

The subscription of sovereign gold bonds will close on October 29, and the certificate of bonds will be issued on November 22, as per the Reserve Bank of India.

The Sovereign Gold Bond Scheme 2021-22 — Series VII will be open for subscription from Monday, October 25. The issue price for the same has been fixed at Rs 4,732 per gram of yellow metal. Online subscribers can secure these bonds at a discount of Rs 50 per gram at Rs 4,711.

Recommended Articles

View All

The subscription of bonds will close on October 29, and the certificate of bonds will be issued on November 22, as per the Reserve Bank of India (RBI).
Here is all you need to know:
  • These bonds will be sold through Scheduled Commercial banks, Stock Holding Corporation of India Limited, Clearing Corporation of India Limited (CCIL), designated post offices, and recognised stock exchanges.
  • The bonds will be restricted for sale to resident individuals, HUFs, trusts, universities, and charitable institutions.
  • The bonds can be purchased in multiples of gram(s).
  • The tenure of the bond is 8 years with an exit option after the 5th year.
  • The minimum permissible investment will be 1 gram and the maximum limit is 4kg for an individual, 4kg for HUF, and 20kg for trusts per fiscal (April-March).
  • Bonds can be purchased through cash payment (maximum limit Rs 20,000) or demand draft, cheque, internet banking.
  • The investors will earn 2.50 percent interest per annum payable semi-annually.
  • These bonds can be used as collateral for loans similar to an ordinary gold loan, as mandated by the RBI.
  • The Sovereign Gold Bonds will be issued in three more tranches from October 2021 to March 2022. Details here:
    S.No.TrancheDate of SubscriptionDate of Issuance
    12021-22 Series VIIOctober 25 - 29, 2021November 2, 2021
    22021-22 Series VIIINovember 29- December 03, 2021December 7 2021
    32021-22 Series IXJanuary 10-14, 2022January 18, 2022
    42021-22 Series XFebruary 28- March 04, 2022March 8, 2022
    Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!

    Top Budget Opinions

      Most Read

      Market Movers

      View All
      Top GainersTop Losers
      CurrencyCommodities
      CompanyPriceChng%Chng