The issue price for the next series of sovereign gold bonds has been fixed at Rs 5,000 per gram of gold, the Reserve Bank of India said in a statement.
About Sovereign Gold Bond
Sovereign Gold Bond 2020-21 is issued by the Reserve Bank India on behalf of the Government of India.
The bonds are denominated in multiples of gram(s) of gold with a basic unit of 1 gram and its tenor is eight years with exit option after fifth year to be exercised on interest payment dates.
The bonds are restricted for sale to resident individuals, Hindu Undivided Families (HUFs), trusts, universities and charitable institutions.
The minimum permissible investment will be 1 gram of gold and the maximum limit of subscription shall be 4 kg for individuals and HUFs, and 20 kg for trusts and similar entities per fiscal (April-March).
Subscription date
The Scheme will be open for subscription from December 28, 2020 to January 1, 2021.
Discount of Rs50
It has been decided to offer a discount of Rs 50 per gram on the nominal value to investors applying online and making the payment against the application through digital mode.
For such investors, the issue price of gold bond will be Rs 4,950 gram of gold.
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