Sovereign Gold Bonds Last Date Today: Deadline looms for July series, rush if you want to buy gold at discount

Sovereign Gold Bonds Latest News: Last opportunity for you to buy Sovereign Gold Bonds (SGB) in this month as the deadline for subscribing the 2020-21 Series IV July 06-10, 2020 ends today. This is the fourth tranche of the SGBs. The issuance date of this tranche will be 14 July 2020.

SGBs are government securities denominated in grams of gold and are substitutes for holding physical gold. Investors have to pay the issue price in cash and the bonds will be redeemed in cash on maturity. The Bond is issued by the Reserve Bank of India (RBI) on behalf of Government of India.

After this two more tranches i.e. the fifth and sixth series will be issued by the RBI. The banking had already issues three tranches in the April, May and June months.

Dates of Issue of 5th and 6th Series:

• 2020-21 Series V August 03-07, 2020 August 11, 2020
• 2020-21 Series VI Aug.31-Sept.04, 2020 September 08, 2020

SGB are restricted for sale to resident individuals, HUFs, Trusts, Universities and Charitable Institutions. The Bonds will be denominated in multiples of gram(s) of gold with a basic unit of 1 gram. The tenor of the Bond will be for a period of 8 years with exit option after 5th year to be exercised on the interest payment dates.

The minimum permissible investment will be 1 gram of gold while the maximum limit is of subscription shall be 4 KG for individual, 4 Kg for HUF and 20 Kg for trusts and similar entities per fiscal (April-March) notified by the Government from time to time.

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The payment for the Bonds will be through cash payment (up to a maximum of ₹ 20,000) or demand draft or cheque or electronic banking. The issue price of the Gold Bonds will be ₹ 50 per gram less for those who subscribe online and pay through digital mode.