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Sovereign Gold Bond: Here’s What SBI & PNB Have On Offer

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The fourth batch of the Sovereign Gold Bond Scheme 2021-22 - Series IV will be available for sale from July 12 to 16, 2021. According to the Reserve Bank of India, the issue price for the Sovereign Gold Bond Scheme 2021-22 has been set at Rs 4,807 per gram. According to the press release notice of RBI, "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...works out to Rs 4,777 per gram of gold."

Key things you need to know about Sovereign Gold Bond Scheme 2021-22 - Series IV
 

Key things you need to know about Sovereign Gold Bond Scheme 2021-22 - Series IV

  • In collaboration with the RBI, the Centre has agreed to provide a concession of Rs 50 per gram less than the actual value to investors who register online and pay for the registration using digital means. The issuance price of the Gold Bond would be Rs 4,757 per gram of gold for such investors.
  • The Sovereign Gold Bond Scheme 2021-22 - Series IV will close for subscription on July 16, 2021.
  • Subscribers can purchase for a minimum of 1 gram of gold for Rs 4,807, compared to the Rs 4,889/gm issue price for Series III, which was available for subscription from May 31 to June 4, 2021.
  • The bonds will be issued through banks, with the exception of small finance banks and payment banks, Stock Holding Corporation of India Limited (SHCIL), authorised post offices and authorized stock exchanges, namely the National Stock Exchange of India Limited and the Bombay Stock Exchange (BSE).
  • The centre has planned to release the bonds in six tranches from May 2021 through September of the current year. The bonds will be issued by the Reserve Bank of India on behalf of the Government of India, according to the press release.
  • Since its commencement, the SGB Scheme has accumulated a total of Rs 25,702 crore through the end of March 2021.
  • During 2020-21, the RBI released 12 tranches of SGB for a total of Rs 16,049 crore (32.35 tonnes), according to the press report.
  • The nominal value of the bond is 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, according to RBI.
  • According to the press release of RBI, 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 next interest payment dates.
  • According to the press release of RBI, 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) notified by the Government from time to time. A self-declaration to this effect will be obtained. The annual ceiling will include bonds subscribed under different tranches during initial issuance by the Government and those purchased from the Secondary Market.
  • According to the press release of RBI, know-your-customer (KYC) norms will be the same as that for purchase of physical gold. KYC documents such as Voter ID, Aadhaar card/PAN or TAN /Passport will be required.
6 Reasons You Must Invest In Sovereign Gold Bonds According to SBI

6 Reasons You Must Invest In Sovereign Gold Bonds According to SBI

The largest Indian commercial bank outlined six compelling reasons to invest in the fourth tranche of the Sovereign Gold Bond Scheme. A tweet from SBI cited the six reasons to acquire Sovereign Gold Bonds. According to SBI, "Planning to invest in Gold?

Here are 6 golden reasons to invest in Sovereign Gold Bonds. SBI customers can invest in these bonds on http://onlinesbi.com under e-services. Know more: https://bit.ly/2O8ESdv."

  • Assured returns of 2.50% p.a. Payable half-yearly.
  • No capital gain tax on redemption.
  • Can be used as collaterals for loans.
  • Secure, no storage hassles like physical gold.
  • Liquidity: Tradable on exchanges.
  • No GST and making charges unlike in physical gold.
  • Issue price: 12th - 16th July, 2021.
  • Offer: Special discount of Rs 50/gm on applying online.
Sovereign Gold Bond Offer By Punjab National Bank

Sovereign Gold Bond Offer By Punjab National Bank

The Punjab National Bank has also cited via its Twitter handle "Perks of applying online: Get discount of Rs 50/gram! Subscription opens tomorrow." The bank has also cited three reasons to invest in which are:

  • Minimum investment 1 gram.
  • Maximum investment 4kg.
  • Price Rs 4,807 per gram.
  • Subscription is open from 12th July to 16th July, 2021.
  • To apply for a Sovereign Gold Bond, PNB customers can call at toll-free numbers 1-800-180-2222 or 1-800-103-2222.

 

Read more about: gold bond
Story first published: Tuesday, July 13, 2021, 16:35 [IST]
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