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Home » News » Sovereign Gold Bond Scheme (SGB) December 2020: Open on Dec. 28

Sovereign Gold Bond Scheme (SGB) December 2020: Open on Dec. 28

December 25, 2020
in Finance, News
Reading Time: 2 mins read
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Sovereign Gold Bond Scheme 2020-21 Series IX will open for subscription on Monday, December 28, 2020. This is the ninth tranche of government-run SGB scheme 2020-21 will close on Friday, January 1, 2021.

On December 24, the Chief General Manager of Reserve Bank of India (RBI) released the press release with the Issue price of the SGB Scheme Series IX.

Issue Price: The issue price has announced on December 24. It is Rs 5,000 per gram of 999 purity gold.

Discount: Only those who invest in the Sovereign Gold Bonds online are eligible to get ₹ 50 per unit.

Lock-In Period: Eight years as a maximum maturity period, with an option to exit after the first five years.

Interest Rate: 2.5 percent fixed rate per annum is applicable, payable semi-annually.

Investment Limit: The highest limit for retail investors and HUFs is 4,000 units (4 kilograms) each per financial year.

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Sovereign Gold Bond Scheme series IX 2020-21

RBI Press Release: “In terms of GoI notification F.No.4(4)-B(W&M)/2020 and RBI circular IDMD.CDD.No.730/14.04.050/2020-21, dated October 09, 2020, the Sovereign Gold Bond Scheme 2020-21 – Series IX will be open for subscription for the period from December 28, 2020 to January 01, 2021. The nominal value of the bond based on the simple average closing price [published by the India Bullion and Jewellers Association Ltd (IBJA)] for gold of 999 purity of the last three business days of the week preceding the subscription period, i.e. December 22 – 24, 2020 works out to ₹5,000/- (Rupees five thousand only) per gram of gold.”

“Government of India, in consultation with the Reserve Bank of India, has decided to offer a discount of ₹50/- per gram less than the nominal value to those investors applying online and the payment against the application is made through digital mode. For such investors, the issue price of Gold Bond will be ₹4,950/- (Rupees four thousand nine hundred fifty only) per gram of gold.”

Where to Invest in SGB Scheme: Can buy through commercial banks, the Stock Holding Corporation, designated post offices, and stock exchanges BSE and NSE.

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