Sovereign Gold Bond Scheme 2021-22: Series 9 is opening on Monday. check details

issue price

The issue price of the new series of Sovereign Gold Bond Scheme 2021-22 has been fixed at 4,786 per gram, India’s central bank said in a statement. Therefore, keeping in view the recent decline in the yellow metal, the Government of India has reduced the issue price of the new series by 5 per gram series had a value of 8 as issue price 4,791 per gram.

Reward for online bidders

Online bidders applying for the bond will get 50% discount has been prescribed as the issue price of the new series for such applicants: 4,736 per gram. Government of India, in consultation with RBI, has decided to offer exemption 50 per gram to the investors who apply online and the payment against the application is made through digital mode.

“For such (online or digital) investors, the issue price of the Gold Bond will be 4,736 per gram of gold,” RBI said.

where to apply

Investors who wish to apply for Sovereign Gold Bond Scheme 2021-22, Series 9 will be sold through Stock Holding Corporation of India Limited (SHCIL), designated post offices and recognized stock exchanges – NSE and BSE.

Bonds are denominated in multiples of gram(s) of gold with a basic unit of one gram. The bond will be for a tenure of 8 years and will be exercised on the next interest payment dates with exit option after the 5th year.

input range

The minimum permissible investment is one gram of gold. The maximum limit of membership per financial year (April-March) is 4 kg for individual, 4 kg for HUF and 20 kg for trusts and similar entities.

KYC eligibility

Know Your Customer (KYC) norms will be the same as for purchase of physical gold.

The Sovereign Gold Bond Scheme was launched in November 2015 with the aim of reducing the demand for physical gold and transferring a part of household savings – used for gold purchases – to financial savings.

(with inputs from PTI)