The Sovereign Gold Bonds 2020-2021 Series 7 issued by the Government of India will open on October 12 until October 16. The settlement date of the issue is October 20. The nominal value of the bond based on the simple average closing price for gold of 999 purity of the last three business days of the week preceding the subscription period, works out to ₹5,051 per gram of gold. says RBI in its RBI press release. There is a Rs 50 discount per gram on subscribing online for the bond.
Sovereign Gold Bonds 2020-2021 Series 7 Details
|Issue Name||Sovereign Gold Bonds Scheme 2020-21 – Series 7|
|Issue serial number||24645|
|Issue Price||₹5,051 (For offline Investors)- ₹5001(For online Investors)|
|Discount||₹50 (Only for online Investors)|
|Minimum Quantity||1 Gram|
|Maximum Quantity||4 Kg for individuals, 4 Kg for HUF, and 20 Kg for trusts and similar entities.|
|Bid Quantity Multiple||1 Gram|
|Rate of Interest||2.50% per annum on the amount of initial investment|
You can buy the SGB from various sources like selected Banks, Post offices, etc. An online facility is also available for the SGB subscription. and the discount price is only for online investors.
Upcoming SGB Issues
|No||Tranche||Date of Subscription||Date of Issuance|
|1||2020-21 Series VIII||November 09 – 13, 2020||November 18, 2020|
|2||2020-21 Series IX||December 28, 2020 – January 01, 2021||January 05, 2021|
|3||2020-21 Series X||January 11-15, 2021||January 19, 2021|
|4||2020-21 Series XI||February 01- 05, 2021||February 09, 2021|
|5||2020-21 Series XII||March 01- 05, 2021||March 09, 2021|
Sovereign Gold Bond is one of the safest and returns assuring investment tool. it is very transparent since it is regulating by the government of India. SGB reduces the risk of physical gold keeping. and it helps to diversify an investor’s portfolio. In this post, we discussed Sovereign Gold Bonds and its benefits. I hope this post will give an idea about SGB 2020-2021 series 7. investing in the Sovereign Gold Bond is purely your personal choice. make a good study before you make an investment in the SGB.