Hurry, The 12th series of Sovereign Gold Bond(SGB)Scheme 2020-21 will end on 5 March. The 12th and last series of the government’s Sovereign Gold Bond (SGB) scheme 2020-21 will open for subscription on March 1, for a period of five days till Friday (March 5).
As part of the gold bond scheme, the Reserve Bank of India (RBI) issues interest-paying bonds linked to the market price. For the 12th installment of the gold bond scheme, an issue price of ₹ 4,662 per unit, equivalent to the value of one gram of gold. Gold cash of up to rs. 20,000 can be taken. Interest will be given on this at the rate of two and a half percent per annum.
The government’s gold bond scheme is open to resident individuals, Hindu Undivided Families (HUFs), trusts, charitable institutions. The sovereign gold bonds are sold through commercial banks, as well as the stock exchanges BSE and NSE.
The bonds are held in the RBI books or in a Demat form. The individual will not be taxable after 8 years. There will be an option to withdraw after 5 years. It will be traded on the stock exchange. It will be mandatory to apply for a pan card while buying bonds.