Sovereign Gold Bond Scheme 2021-22: Check date, where to buy, tenure, minimum and maximum investment and more—key details here

Sovereign Gold Bond Scheme 2021-22 - Series VI: There is another opportunity for buyers of gold to purchase the precious yellow metal at reasonable rate. The Reserve Bank of India (RBI) has announced the date of Sovereign Gold Bond Scheme 2021-22 - Series VI. The central bank has also fixed per gram rate of gold.  

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As per a statement from RBI, the Sovereign Gold Bond Scheme 2021-22 - Series VI will be open for subscription from August 30 to September 03, 2021. The issue price for the next tranche of Sovereign Gold Bond Scheme 2021-22, which will open for subscription for five days from August 30, has been fixed at Rs 4,732 per gram of gold, the RBI said on Friday. 

"The nominal value of the bond based on the simple average closing price [published by the India Bullion and Jewellers Association Ltd (IBJA)] for gold of 999 purity of the last three business days of the week preceding the subscription period, i.e. August 25, August 26 and August 27, 2021 works out to ₹4,732/- (Rupees Four thousand seven hundred and thirty-two only) per gram of gold," said RBI. 

The Government of India, in consultation with the Reserve Bank of India, has decided to offer a discount of ₹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 Gold Bond will be ₹4,682/- (Rupees Four thousand six hundred and eighty-two only) per gram of gold," it said. 

Where to buy gold bond? 

The bonds are sold through banks (except small finance banks and payment banks), Stock Holding Corporation of India Limited (SHCIL), designated post offices, and recognised stock exchanges National Stock Exchange of India Limited and BSE. 

Gold bond Tenure 

The bonds are denominated in multiples of gram (s) of gold with a basic unit of 1 gram. The tenor of the bond is for a period of 8 years with exit option after 5th year to be exercised on the next interest payment dates.  

Gold bond minimum and maximum investment 

Minimum permissible investment is 1 gram of gold. The maximum limit of subscription is 4 kg for individuals, 4 kg for HUFs and 20 kg for trusts and similar entities per fiscal (April-March). 

Money raised through gold bond in 2021  

A total of Rs 25,702 crore has been raised through the SGB Scheme since its inception till end-March, 2021. The Reserve Bank had issued 12 tranches of SGB for an aggregate amount of Rs 16,049 crore (32.35 tonnes) during 2020-21.