Sovereign gold bonds will be issued in five more tranches in the 2020-21 fiscal year.
The subscription for the seventh tranche of sovereign gold bonds (SGBs) will open from October 12. The subscription date for the series is October 12-16, and the issue date is October 20.
The Reserve Bank of India (RBI) has fixed the issue price of this tranche of SGBs at Rs 5,051 per gram. The bonds are issued at an interest rate of 2.5 percent for a tenor of eight years.
SGBs will be issued in five more tranches in the 2020-21 fiscal year.
How to buy Sovereign Gold Bonds:
SGBs can be purchased at scheduled commercial banks (except small finance banks and payment banks), Stock Holding Corporation of India (SHCIL), designated post offices, and recognised stock exchanges such as the NSE and the BSE.
SGBs can be purchased online through the websites of the banks. Those who apply digitally get a discount of Rs 50 per gram.
Individuals who apply can be assured of allotment if they fulfil the eligibility requirements and provide a supporting document."If the customer meets the eligibility criteria, produces a valid identification document and remits the application money on time, he/she will receive the allotment," the RBI said on its website.