Mumbai, October 12: The seventh tranche of the Sovereign Gold Bond (SGB) Scheme 2020-21 opened on Monday. The issue price for the sovereign gold bond has been fixed at Rs 5,051 per gram of gold, the Reserve Bank of India (RBI) had said in a statement on Friday.
Investors applying for the issue online will get a discount of Rs 50 per gram. So the price for them will be Rs 5,001 per gram. The issue will remain open for one week through October 16.
The issue price for the bonds (Series VI), which were open for subscription from August 31 to September 4, was Rs 5,117 per gram of gold. Sovereign Gold Bonds Open For Subscription Today: Here's How to Apply And All You Need to Know About SGB Scheme 2020-21 Series V.
Here are a few things which you need to know before applying for SGBs:
- Documents that are required for applying these bonds are Voter ID, Aadhaar card/PAN, or TAN /Passport.
- SGBs are issued by the Reserve Bank of India
- Unlike in physical gold, GST is not levied on SGBs.
- The tenor of the gold bonds is eight years with exit option after the fifth year.
- The bonds will be sold through Commercial banks, Stock Holding Corporation of India Limited (SHCIL), designated post offices (as may be notified) and recognised stock exchanges viz., National Stock Exchange of India Limited and Bombay Stock Exchange, either directly or through agents.
The Sovereign Gold Bond Scheme (SGB) 2020-21 Series VIII will open for subscription from November 9 to November 13. The issue price will be announced a few days before the subscription opens.
(The above story first appeared on LatestLY on Oct 12, 2020 09:48 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).