If you are planning to invest in gold, then it is definitely a chance to step into new year with golden step. RBI has announced the date and price for tenth tranche of Sovereign Gold Bond (SGB) scheme 2020-21. The scheme will open for subscription from Jan 11, 2021 till Jan 15, 2021. The issue price for this tenth series of sovereign gold bonds has been fixed at Rs 5,104 per gram. However, the investors applying for this scheme through digital payments will be eligible for discount of Rs 50 per gram. As such they may subscribe to this scheme for Rs 5,054 per gram.
Few Important points about the Sovereign Gold Bond Scheme Series X- 2020-21:
- As per RBI’s circular, the issue price for the Sovereign Gold Bond has been fixed at Rs 5,104 per gm. However investors applying online or making payments via digital mode will get a discount of Rs 50 per gram less than the nominal value. As such, the issue price for these investors will be effectively Rs 5,054 per gram.
- The date range for Series X of Sovereign Gold Bond (SGB) when the issue will remain open is between Jan 11, 2021 and January 15, 2021.
- Investors, seeking to invest in this tranche of SGB schemes may contact us.
- Only resident individuals, Hindu Undivided Families (HUFs), trusts, universities and charitable institutions can invest in Sovereign Gold Bond (SGB) scheme.
- While the minimum investment in Sovereign Gold Bond (SGB) is one gram (valued at Rs.5054), the maximum amount that may be invested shall not exceed 4kgs of Gold Bonds.
- The maturity period for Sovereign Gold Bond (SGB) of eight years. However, if an investor plans to exit before the lock-in period of 5 years, they can always get out of the bonds by selling them on stock exchanges.
- The Sovereign Gold Bond (SGB) will be listed in both National Stock Exchange and Mumbai Stock Exchange.
- The investors investing in Soverign Gold Bond will receive 2.5% assured interest per annum on the
investment payable semi annually. - The application will be issued with bonds on the issuance date of January 18, 2021.
Other Important Points
- Investor in case of Minor (Minor PAN & Guardian PAN) both will be compulsory.
- Application by cheque will be accepted only first and second day.
- NRI will not allow for investment.
- In case of HUF, Nominee will not be applicable.
- Investors are requested not to transfer any funds directly in designated account for SGB.
- Every application for Demat / Physical mode must be accompanied by PANonly.
- No interest will be paid on application amount
- On the last day of bidding period, i.e. Friday, bid entry shall be available till 1:00 pm