homepersonal finance NewsSovereign Gold Bond Scheme Series X opens at Rs 5,109 per gram: All you need to know

Sovereign Gold Bond Scheme - Series X opens at Rs 5,109 per gram: All you need to know

The subscription of bonds will close on March 4, and the certificate of bonds will be issued on March 8, as per RBI. Online subscribers can secure these bonds at a discount of Rs 50 per gram at Rs 5,059.

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By CNBCTV18.com Feb 28, 2022 10:10:24 AM IST (Published)

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Sovereign Gold Bond Scheme - Series X opens at Rs 5,109 per gram: All you need to know
The Sovereign Gold Bond Scheme 2021-22 — Series X will open for subscription from Monday, February 28. The issue price for the same has been fixed at Rs 5,109 per gram of gold. Online subscribers can secure these bonds at a discount of Rs 50 per gram at Rs 5,059.

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The subscription of bonds will close on March 4, and the certificate of bonds will be issued on March 8, 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 issue price for Series IX, which was open for subscription during January 10-14, was Rs 4,786 per gram of gold.
    The Scheme was launched in November 2015 with an objective to reduce the demand for physical gold and shift a part of the domestic savings — used for the purchase of the yellow metal — into financial savings.

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