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Second Sovereign Gold Bond Scheme series to open on August 22
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IANS | 20 Aug, 2022
The
government has announced that the second series of the Sovereign Gold
Bond Scheme for the current fiscal will open for subscription on August
22, and the issue price is Rs 5,197 per gram.
The
interesting aspect of the scheme is that if investors apply and pay for
it online, then Reserve Bank of India (RBI) is offering Rs 50 per gram
discount. The application for gold bonds will be open till August 26,
the central bank said.
The scheme is valid for a period of eight
years and it carries an option of premature redemption after the fifth
year. This option can be availed on the date when interest is payable.
These
gold bonds are issued by RBI on behalf of the Government. These are
available for individuals, charitable institutions, trusts and Hindu
Undivided Families (HUFs). The maximum permissible subscription limit
for individuals and HUFs would be 4 kg, while it would be 20 kg for
trusts per fiscal year as notified by the Government periodically.
The minimum allowed investment limit is one gram of gold, a statement issued by the Finance Ministry said.
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