The Series II of Sovereign Gold Bond Scheme for FY21 will shut for subscription on May 15. The Central Bank has fastened the difficulty value below this scheme at Rs 4,590 per gram of gold.
Here’s all you need to know about your eligibility, how to apply for the Sovereign Gold Bond Scheme.
Sovereign Gold Bond Scheme are authorities securities denominated in grams of gold. They are substitutes for holding bodily gold. Investors have to pay the difficulty value in money and the bonds shall be redeemed in money on maturity. The Bond is issued by Reserve Bank on behalf of Government of India.
The bonds shall be bought by means of scheduled industrial banks (besides Small Finance Banks and Payment Banks), Stock Holding Corporation of India Limited (SHCIL), designated publish workplaces, and recognised inventory exchanges viz., National Stock Exchange of India Limited and Bombay Stock Exchange Limited.
The Bonds shall be restricted on the market to resident people, HUFs, Trusts, Universities and Charitable Institutions.
The tenor of the Bond shall be for a interval of eight years with exit choice after fifth 12 months to be exercised on the curiosity fee dates.
Minimum permissible funding shall be 1 gram of gold. The most restrict of subscribed shall be Four KG for particular person, 4 Kg for HUF and 20 Kg for trusts and related entities per fiscal (April-March) notified by the Government from time to time. A self-declaration to this impact shall be obtained. The annual ceiling will embrace bonds subscribed below totally different tranches throughout preliminary issuance by Government and these bought from the Secondary Market.
The subject value of the Gold Bonds shall be Rs 50 per gram much less for individuals who subscribe on-line and pay by means of digital mode.