Sovereign Gold Bond Scheme 2021-22
The Government of India, in consultation with the Reserve Bank of India, has come out with the Sovereign Gold Bond scheme 2021-22 as per the press release by RBI dated May 12, 2021. The Gold Bonds under Sovereign Gold Bond Scheme 2021-22 will be issued in six tranches from May 2021 to September 2021.
An investor can apply for SGB through Scheduled commercial banks (except SFBs and Payment Banks), Stock Holding Corporation of India Limited, and recognized stock exchanges.
SGBs are government securities denominated in grams of gold which gives an opportunity to investors to invest in gold without physical holding. Investing in these bonds is beneficial as it eliminates the cost and storage risk.
Follow this link to know the key features of SGB Invest in Gold without Physical Holding and Earn Interest Also- Find out How?
In times of economic uncertainty and financial disturbances during a pandemic, gold has proved to be a safe haven asset in the long term. It not only diversifies the portfolio but also provides a cushion against market fluctuations.
SGB Scheme 2021-22
Below are the forthcoming dates for the issue specified by the RBI.
|Status||Subscription Date||Issuance Date||Issue Price Rs per gram||Online Issue price Rs per gram|
|Series I||Closed||May 17-21, 2021||May 25, 2021||4777||4727|
|Series II||Closed||May 24-28, 2021||June 1, 2021||4842||4792|
|Series III||Open||May 31- June 4, 2021||June 8, 2021||4889||4839|
|Series IV||Upcoming||July 12-16, 2021||July 20, 2021|
|Series V||Upcoming||Aug 9-13, 2021||Aug 17, 2021|
|Series VI||Upcoming||Aug 30- Sept 3, 2021|
The price on these bonds is fixed on the basis of a simple average closing price of 999 purity gold prices prevailing in the last three business days of the week (rate as published by India Bullion and Jewellers Association, IBJA) preceding the subscription period. The Bonds bear periodic interest payouts @ 2.5% p.a. paid semiannually.