The first sale of the Sovereign Gold Bond for FY2021-22 begins today. The sale runs until May 21st. The bonds will be issued on May 25. The sovereign gold bond will be issued in 6 installments over the next few months, the finance ministry said. This is a great opportunity for those who like to invest in gold.
You can also invest in 1 gram of gold
As of now, the price of a sovereign gold bond is Rs 4,777 per gram. Through this scheme, any investor can purchase at least one gram of gold and more than 4kg of gold. The maximum purchase limit for trusts and similar entities is 20 kg. These bonds are issued for up to 8 years, but there is also the option to withdraw after 5 years if necessary. Based on the IBJA 999 purity gold published weighted average maturity for gold bonds.
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Save Rs 500 for ten grams
After talks with the Government of India and the Reserve Bank of India, investors paid sovereign gold bond purchases online at Rs 50 per gram. That means you can save up to Rs 500 in ten grams. This reduces the gold price per 10 grams from Rs 4,777 to Rs 4,277.
You can buy sovereign gold bonds from here
According to the ministry, the bonds will be sold through Stock Holding Corporation of India Limited, designated post offices and accredited stock exchanges, National Stock Exchange of India Limited and Bombay Stock Exchange Limited. Small financial banks and payment banks do not allow the sale of bonds. These bonds will be issued by the Reserve Bank of India on behalf of the Government of India.
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These are the rules
Know that your customer (KYC) criteria for buying bonds are the same as buying gold from the market. The government’s sovereign gold bond scheme was launched in November 2015.
