Sovereign Gold Bonds: Last day to subscribe SGB Series 1; issue price at Rs 5,091 per gram, Rs 50 discount for online applicants
For investors applying for SGBs online, there will be a discount of Rs 50 per gram. For such investors, the issue price of Gold Bond will be Rs 5,041 per gram of gold
Sovereign Gold Bonds: Today is the last day to subscribe Sovereign Gold Bond Scheme 2022-23 Series I. The issue opened on 24 June 2022.
The issue price of SGB is Rs 5,091 per gram of gold according to a Reserve Bank of India (RBI) release.
For investors applying for SGBs online, there will be a discount of Rs 50 per gram. For such investors, the issue price of Gold Bond will be Rs 5,041 per gram of gold.
The nominal value of the SGBs id 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, which in this case is 15 June, 16 June and 17 June 17, 2022.
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 on behalf of Government of India.
SGBs can be subscribed by individuals through their bank accounts or through demat accounts.
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.
See Zee Business Live TV Streaming Below:
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.
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.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Stocks To Buy For 2 Weeks: Axis Direct recommends buying these stocks for 5-15 day; check targets, stop losses
Power of Rs 2,000 Monthly SIP: Can one achieve Rs 3.18 crore corpus by investing Rs 2,000 monthly? If yes, in how many years
Top 5 mid cap mutual funds with best SIP returns in 1 year: See how Rs 25,000 monthly investment has grown in each scheme
11:38 AM IST