Sovereign Gold Bond Scheme 2020-21 - Series IX Important Points you Need to Know
The Series IX of Sovereign Gold Bond scheme 2020-21 will open for subscription for the period from December 28, 2020 to January 01, 2021.
The series IX of the sovereign gold bond scheme, which is being issued by the RBI on behalf of the central government
The issue price for the new series of sovereign gold bonds has been fixed at Rs 5,000 per gram of gold
If investors applying online and the payment against the application is made through digital mode,The government will offer a discount of Rs 50 per gram for such investors, the issue price of Gold Bond will be Rs 4,950 per gram of gold.
Thr RBI notified that the nominal value of the bond based on the simple average closing price by IBJA. For gold of 999 purity of the last three business days of the week i.e. December 22 - 24, 2020 works out to Rs 5,000 per gram of gold.
The main moto of Sovereign Gold Bond scheme is to reduce the demand for physical gold and shift a part of the domestic savings, used for the purchase of gold, into financial savings
Investors can purchase the Sovereign Gold Bond schemes through Post Offices, Banks, Bombay Stock exchanges and National Stock Exchange, and the Stock Holding Corporation.
The maximum limit of subscription shall be 4kg for individuals and HUFs, and 20kg for trusts and similar entities per fiscal year.
Maturity period of Sovereign Gold Bond is 8 years. However, if an investor plans to exit before the lock-in period of 5 years