Sovereign Gold Bond scheme series 2021-22 series IX to open for subscription from Jan 10 to 14
These days if you are planning to invest in gold, then you can invest in Sovereign Gold Bonds. The government is once again giving you a chance to invest in Sovereign Gold Bonds. Under the Sovereign Gold Bond Scheme 2021-22, there will be an opportunity to invest in gold from January 10 to 14.
This time the government has fixed the price of Sovereign Gold Bond at Rs 4,786 per gram. For applying online and making digital payment, you will get a discount of Rs 50 per gram. That is, you have to pay Rs 4,736 for 1 gram of gold.
RBI issues sovereign gold bonds
Sovereign Gold Bond is a government bond, issued by RBI. It can be converted into demat form. Its value is in the weight of gold. If the bond is worth five grams of gold, then the value of the bond will be the same as the price of five grams of gold. The issue price has to be paid to a SEBI authorized broker for purchase. After the bond is sold, the money gets deposited in the investor’s account.
2.50% interest is available on the issue price
Sovereign Gold Bonds offer a fixed interest rate of 2.50% per annum on the issue price. This money reaches your account every 6 months. However, tax will have to be paid on it according to the slab.
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. January 05, January 06 and January 07, 2022 works out to ₹4,786/- (Rupees Four thousand seven hundred and eighty-six 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 ₹4,736/- (Rupees Four thousand seven hundred and thirty-six only) per gram of gold.
