New Delhi. If you also want to invest in gold, then this news is of your use. Actually, from today onwards, the government is once again giving an opportunity to invest in gold. The eighth installment of the Government Sovereign Gold Bond Scheme 2021-22 is being opened from November 29. This scheme will be open for subscription for 5 days.
Know how much is the price?
The price range for the Government Gold Bond Scheme 2021-22 has been fixed at Rs 4,791 per gram. The government, in consultation with the Reserve Bank, has also decided to give a discount of Rs 50 per gram to investors who apply online and pay digitally. The issue price for such investors would be Rs 4,741 per gram.
Will close on December 3
according to the Reserve Bank of India (RBI), the scheme will open on 29 November 2021 and will close on December 3, 2021. The application for the bond can be given for five days from November 29. The tenure of gold bonds will be of eight years. With this, exit option will be available after the fifth year, which can be exercised on the next interest payment date. Investors will get interest at a fixed rate of 2.50 per cent per annum, which will be paid twice a year.
Know the Customer (KYC) criteria to be met
Earlier, the issue price for Series Seven was Rs 4,761 per gram. RBI will issue the bond on behalf of the Government of India. Know Your Customer (KYC) criteria to be met in order to buy bonds, the same as when buying gold from the market. The Sovereign Gold Bond Scheme of the Government was launched in November 2015.
Investors will be able to buy bonds from here
If you want to invest in Sovereign Gold Bonds, then you can buy the bonds from Stock Holding Corporation of India Limited, designated post offices and recognized stock exchanges, National Stock Exchange of India Limited and Bombay Stock Exchange Limited. Any individual and Hindu Undivided Family can buy bonds up to a maximum value of four kilograms, while the maximum purchase limit for trusts and similar entities is 20 kilograms.
Scheme was launched in 2015
The Sovereign Gold Bond Scheme was launched in November 2015. The objective was to reduce the demand for physical gold and to channelize the portion of household savings used to buy gold into financial savings.