The Reserve Bank of India (RBI) has announced the Sovereign Gold Bond Scheme 2022-23 – Series III. It will be open for subscription from December 19 to December 23, 2022 with an issue price of Rs 5,409 per gram of gold. The RBI issues the bonds on behalf of the Indian government. “The nominal value of the bond…works out to ₹5,409 per gram of gold,” the RBI said.
Where to buy Sovereign Gold Bond?
You can buy Sovereign Gold Bonds through Scheduled Commercial banks (except Small Finance Banks, Payment Banks and Regional Rural Banks), Clearing Corporation of India Limited (CCIL), designated post offices, stock exchanges — NSE and BSE and Stock Holding Corporation of India Limited (SHCIL).
Discount for online buyers
In consultation with the RBI, the Government of India has decided to offer investors applying online a discount of Rs 50 per gram below the nominal value and application payment is done via digital mode. “For such investors, the issue price of Gold Bond will be ₹5,359 per gram of gold,” RBI said.
When is the next chance to buy SGB?
The 2022-23 Series IV Sovereign Gold Bonds (SGB) will be open for subscription from March 6 to 10, 2023, according to the finance ministry.
Tenor of gold bonds
The tenor of the gold bonds is eight years with a premature redemption option after the 5th year, which is exercised on the date on which interest is payable.
Why you should go for SGB?
As per experts, investing in Sovereign Gold Bonds is considered a better option than investing in physical gold or digital gold. The scheme is supported by the Government of India and is regulated by the RBI. Investors are compensated at a fixed annual rate of 2.50%, payable semi-annually at on the nominal value.
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