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News In Brief Business and Economy

Discount And Other Advantages On First Day Of The Sovereign Gold Bond Plan

News In Brief Business and Economy

Discount And Other Advantages On First Day Of The Sovereign Gold Bond Plan

discount-and-other-advantages-on-first-day-of-the-sovereign-gold-bond-plan

News Synopsis

The second tranche of Sovereign Gold Bonds 2021-22 will be available for purchase on October 25. Series-VII bonds will be issued on November 2 after a subscription period that runs from October 25 to October 29. The issue price has been set at $4,765 per gram of gold, according to the Ministry of Finance.

The bond will be issued for eight years, with an option to exit after the fifth year. The investors will be paid a fixed yearly rate of 2.50 percent on the nominal value, payable semi-annually. The minimum amount of gold that can be invested in one gram, with a maximum subscription limit of four kilograms for persons, four kilograms for HUFs, and twenty kilograms for trusts.

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