Sovereign Gold Bonds: The issue price for the next tranche of Sovereign Gold Bond 2021-22 has been fixed. This issue will open next week on Monday 28 February.
Gold Bond: The issue price for the next tranche of Sovereign Gold Bond 2021-22 has been fixed. This issue will open next week on Monday 28 February and will be open for subscription for five days i.e. till 4 March. RBI informed on Friday that the issue price for the tenth tranche of gold bonds opening next week has been fixed at Rs 5109 per gram. However, investors who apply and pay online for this gold bond will save Rs 50 per gram i.e. investors will have to pay Rs 5059 per gram in digital mode. Earlier, the installment of Gold Bond was open for subscription on January 10-14 and for this the price was fixed at Rs 4786 per gram.
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Special things related to Sovereign Gold Bonds
- Gold Bond prices are determined on the basis of the average price of gold of 999 purity in the last three working days of the previous week of the subscription period. The Indian Boolean and Jewelers Association (IBJA) publishes the price of gold of 999 purity.
- Investors will get a discount of Rs 50 on online application and payment.
- The bonds will be sold through scheduled commercial banks, Stock Holding Corporation of India, Clearing Corporation of India, select post offices, NSE and BSE, except small finance and payments banks.
- Investors will get interest on the nominal value of the investment at the rate of 2.5 per cent per annum every six months.
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- You have to invest at least 1 gram of gold through gold bonds. Apart from this, individuals are allowed to invest up to 4 kg and entities like trusts are allowed to invest a maximum of 20 kg in gold bonds in a financial year.
- The tenure of these bonds will be 8 years. However, after holding for five years, you can withdraw your capital on the next interest payment date.
- The redemption price will be determined on the basis of the average closing price of gold of 999 purity in the last three working days published by IBGA.
- The interest earned on investment in bonds will be taxed, but the capital gain on redemption does not attract tax liability of the individual.
- These bonds are also traded on the stock exchange.
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