The latest tranche of sovereign gold bonds (SGB) opened for subscription on May 17. The issue price for Sovereign Gold Bond Scheme 2021-22 Series-I has been fixed at ₹ 4,777 per gram. The country's top lender State Bank of India (SBI) provides the option of buying SGBs online.
In a tweet, SBI said, "Here's a golden opportunity! 6 golden reasons to invest in Sovereign Gold Bonds. SBI customers can directly invest in INB under e-services."
The issue will close on May 21 and the bonds will be issued on May 25. The Government of India in consultation with the Reserve Bank of India has decided to allow discount of ₹ 50 per gram from the issue price to those investors who apply online and the payment is made through digital mode. For such investors the issue price of Gold Bond will be ₹ 4,727 per gram of gold.
Here are the steps to invest in SGB via SBI:
Investors can also buy gold bonds from commercial banks, Stock Holding Corporation of India Limited (SHCIL), post offices designated by RBI and recognised stock exchanges.
The sovereign gold bond scheme was launched in November 2015 to reduce the demand for physical gold and shift a part of the domestic savings -- used for the purchase of gold -- into financial savings.
Catch all the Instant Personal Loan, Business Loan, Business News, Money news, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
First Published: 19 May 2021, 09:47 AM ISTBusiness NewsMoneyPersonal FinanceHow to buy sovereign gold bonds online from SBI? A step-by-step guide
