Sovereign gold bond scheme opens today; know how to buy online; check discount

The Sovereign Gold Bond scheme opens today for subscription and it will be live for the next five days till March 4, 2022. This will be the tenth tranche of the Sovereign Gold Bond Scheme 2021-22, which was launched in November 2015 with the aim of reducing the demand for physical gold. RBI issues the bond on behalf of the government. In a press release, the RBI said that it has fixed the issue price for the Sovereign Gold Bond Scheme 2021-22 for the tenth series at Rs. 5,109 per gram of gold. Further, the Gold Bond Scheme is offering a discount of Rs. 50 per gram for those investors who apply online and the payment against the application will be made through digital mode. That means, the issue price of the Gold Bond will be Rs. 5,059 per gram of gold for those who buy Sovereign gold bonds online.

Who is eligible to invest in the Sovereign Gold Bond

According to the RBI, persons residing in India as defined under Foreign Exchange Management Act, 1999 are eligible to invest in Sovereign Gold Bonds (SGB). The eligible investors for SGB include individuals, Hindu Undivided families, trusts, universities, and charitable institutions. The Bonds are issued in one-gram gold denominations and multiples thereof. The minimum investment in the Bond should be one gram, with a maximum subscription limit of four Kgs for individuals.

Where to buy Sovereign gold bond

If you are interested in buying Sovereign Gold Bonds, then you can do so through various methods including online. Bonds are sold through offices or branches of Nationalised Banks, Scheduled Private Banks, Scheduled Foreign Banks, designated Post Offices, Stock Holding Corporation of India Ltd. (SHCIL), and the authorised stock exchanges either directly or through their agents. If you are planning to buy, then you can apply online through the website of the listed scheduled commercial banks, through which you will get a discount of Rs. 50. Here we have listed the step-by-step guide to buy SGB online, which you can buy through SBI, HDFC Bank, ICICI Bank, Punjab National Bank (PNB), and more.