SGB: Sovereign Gold Bond Scheme has fixed a price of one gram of gold at Rs 4,662, will get a chance to buy from March 1

The twelfth series of Sovereign gold bonds scheme 2020-21 is going to open for subscription. The series will be open for subscription from March 1 to March 5. Under this scheme you have the opportunity to buy gold at a lower price than the market. In this series of SGB scheme, the price of one gram of gold has been fixed at Rs 4662. This information has been given by the Finance Ministry on Friday.

The ministry statement said that the Government of India, in consultation with the Reserve Bank of India, has decided that investors under this scheme who apply online and pay through digital means will be given a discount of Rs 50 per gram in the issue price. For such investors, the issue price of gold bonds will be Rs 4,612 per 1 gram.

In the Sovereign Gold Bond Scheme, gold will be sold through banks, Stock Holding Corporation of India (SHCIL), designated post offices and recognized stock exchanges (NSE and BSE). Explain that the Sovereign gold bond scheme was launched in November 2015. The objective of launching the scheme was to reduce spot demand for gold and convert a portion of domestic savings used for purchase of gold into financial savings.

The maturity period of sovereign gold bonds is eight years, but investors can opt out after the fifth year. However, if an investor wants to exit before the lock-in period of 5 years, he can exit forever by selling it on the stock exchange.

Under the scheme, any investor can buy gold in one gram or its multiple. An individual or Hindu undivided family can buy a four kg Sovereign Gold Bond in a financial year. At the same time, other qualified investors can buy 20 kg of gold in a year. KYC documents such as Voter ID, Aadhaar Card, PAN or Passport are required to purchase Gold Bonds under the Sovereign Gold Bond Scheme.