Sovereign Gold Bonds 2020-2021 Series 7

Sovereign Gold Bonds 2020-2021 Series 7

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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.

Also read: what is Sovereign Gold Bonds? and its benefits and features.

Sovereign Gold Bonds 2020-2021 Series 7 Details

Issue NameSovereign Gold Bonds Scheme 2020-21 – Series 7
Issue serial number24645
Opening date12-OCT-2020
Closing date16-OCT-2020
Allotment date20-OCT-2020
Issue Price₹5,051 (For offline Investors)- ₹5001(For online Investors)
Discount ₹50 (Only for online Investors)
 Minimum Quantity1 Gram
 Maximum Quantity4 Kg for individuals, 4 Kg for HUF, and 20 Kg for trusts and similar entities.
 Bid Quantity Multiple1 Gram
Rate of Interest2.50% 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

NoTrancheDate of SubscriptionDate of Issuance
12020-21 Series VIIINovember 09 – 13, 2020November 18, 2020
22020-21 Series IXDecember 28, 2020 – January 01, 2021January 05, 2021
32020-21 Series XJanuary 11-15, 2021January 19, 2021
42020-21 Series XIFebruary 01- 05, 2021February 09, 2021
52020-21 Series XIIMarch 01- 05, 2021March 09, 2021

Final thoughts

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.

Happy Investing.

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