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Sovereign Gold Bond Scheme 2020-21 Series III To Open On June 8- Check Its Issue Price

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The Sovereign Gold Bond Scheme 2020-21-Series III will open for subscription for the period from June 08-June 12, 2020. And for it the issue price has been fixed at Rs. 4677 per gm.

SGB Scheme 2020-21 Series III To Open- Check Its Issue Price
 

The government in this fiscal earlier said to launch these SGBs in six traches from April-September. "The nominal value of the bond based on the simple average closing price for gold of 999 purity of the last three business days of the week preceding the subscription period, i.e. June 03 - June 05, 2020 works out to Rs 4,677 per gram of gold," the RBI said.

Further like earlier issues on online investment, investors will get Rs. 50/ gm discount. And hence for these investors, the price will come out to be Rs. 4627 per gm.

The bonds denominated in multiples of gram(s) of gold comes with a basic unit of 1 gram and the tenor of the Sovereign Gold Bond will be eight years with exit option after fifth year to be exercised on interest payment dates.

Eligible resident individuals, Hindu Undivided Families (HUFs), trusts, universities and charitable institutions can invest in these bonds. The minimum permissible investment will be 1 gram of gold, and the maximum limit of subscription shall be 4 kg for individual, 4 kg for HUF and 20 kg for trusts and similar entities per fiscal (April-March).

The scheme was launched with an aim to channelize investor's physical demand for gold to financial savings.

GoodReturns.in

Read more about: sovereign gold bonds sgbs
Story first published: Saturday, June 6, 2020, 5:52 [IST]
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