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Sovereign Gold Bond Scheme Series X Opens For Subscription Today. Know How To Buy SGB Online
Sovereign Gold Bond Scheme: The applications will be open for a period of 4 days till March 4, 2022. According to reports, the Reserve Bank of India (RBI) has set the price of Rs 5,109 for one gram under the SGB scheme.
New Delhi: The latest series X of Sovereign Gold Bond Scheme (SGB) 2021-22 will open for subscription today on February 28, 2022. The applications will be open for a period of 4 days till March 4, 2022. According to reports, the Reserve Bank of India (RBI) has set the price of Rs 5,109 for one gram under the SGB scheme.
The government issues bonds under the scheme, the buyer can buy the same without the cost of buying and selling it. These securities are government-backed and are issued in multiples of 1 gram.
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According to a report by Moneycontrol, the scheme was launched in 2015 under the Gold Monetisation Scheme. The prices are fixed according to bullion prices in the 3 days preceding the launch of the scheme.
How Much Rate Of Interest Do SGB Offer?
The bonds under the SGB scheme offer 2.5 per cent interest per annum. The interest is given every 6 months. On maturity, the principal amount along with the due interest is credited directly to the bank account of the buyer.
A cap on buying has also been fixed by the government. For individuals and Hindu Undivided Families, the limit is 4 kg. And for Trusts, the limit has been fixed at 20 kg per year.
A discount of Rs 50 per gram is awarded to the people buying the bonds online and through online payments.
How To Buy SGB Online From SBI?
- Log In to your SBI net banking account
- Click on ‘eServices’ and go to ‘Sovereign Gold Bond’
- Check the box on ‘Terms and Conditions’ and ‘Proceed’.
- Fill in the details in the registration form
- Click on ‘Submit’
- Enter the quantity you want to buy and fill in the nominee details.
- Click on ‘Submit’.
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