Issuance of Sovereign Gold Bond Scheme 2021 -2022 (Series VII) by RBI.
The issue will remain open from Mon, 25th October 2021 to Fri, 29th October 2021. The bonds are denominated in multiples of gram(s) of gold with a basic unit of 1 gram and the tenor of the SGB will be eight years with exit option after fifth year to be exercised on the interest payment dates. The Sovereign Gold Bond Scheme will
also list in NSE & BSE exchange.
Details of Current SGB Scheme – Series IV:
Issue Name: Sovereign
Gold Bonds Scheme 2021-22 – Series VII
Symbol: SGB212207
Issue serial number:
26694
ISIN: IN0020210178
Issue Period: Mon, 25th
Oct to Fri, 29th Oct, 2021
Issue Price (per gram of gold): Online
BID: Rs. 4,711 (For investors applying online and the payment against the application is made through digital mode); Offline BID: Rs. 4,761
Minimum Quantity: 1 gram
Maximum Quantity: The maximum limit of subscribed shall be 4 KG for individual, 4 Kg for HUF and 20 Kg for trusts and similar entities per fiscal (April-March) notified by the Government from time to time. A self-declaration to this effect will be obtained. The annual ceiling will include bonds subscribed under different tranches during initial issuance by Government and those purchased from the Secondary Market.
Bid
Quantity Multiple:
1 gram
Rate of Interest: 2.50% per
annum on the amount of initial investment. It shall commence from the date of
its issue and is payable every 6 months.
Date of Allotment:
November 02, 2021
Key Features
• The bond bears an interest at the rate of 2.50% (fixed rate) per annum on the nominal value.
• Interest will be credited semi-annually to the investor’s account and the last interest will be payable on maturity along with the principal
• Investors will earn returns linked to gold prices
• Bond carry sovereign guarantee both on redemption amount and on the interest
• Tradable on National Stock Exchange of India Limited
Advantages
• Safest: Zero risk of handling physical gold
• Earn Interest: 2.50% assured interest per annum on the issue price
• Tax Benefits: No TDS applicable on interest
• Indexation benefit if bond is transferred before maturity
• Capital gain tax exempt on redemption
• Assurance of Purity: Goldbond prices are linked to price of gold of 999 purity (24 carat) published by IBJA.
• Sovereign Guarantee: Both on redemption amount and on the interest
• Easy Exit Option: The tenor of the bond is for 8 years with an option to redeem from 5th year onwards on the date on which interest is payable
• Traded on Exchange: All earlier issuance of SGB are available for trading on NSE
• Ease of Borrowing Loan: Can be used as collateral for loans
Who can apply:
Investors include individuals, HUFs, trusts, universities and charitable institutions. Individual investors with subsequent change in residential status from resident to non-resident may continue to hold SGB till early redemption/maturity.
Please write back if you require any further information about this bond and if you wish to invest.