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Sovereign Gold Bond: Then came the opportunity to buy cheap gold, know when the SGB scheme is coming

Sovereign Gold Bonds Scheme 2022-23 Series 2: If you want a chance to buy gold cheaper than the market price, then this news is for you only. Reserve Bank of India (RBI) has announced the second series of Sovereign Gold Bond Scheme and it will open from 22 August 2022 to 26 August 2022. RBI has announced to bring it under Series 2 of Sovereign Gold Bond Scheme 2022-23. Its first series was opened from June 20 to June 23, 2022, in which investors got a chance to take cheap gold.

Prices for the scheme have not been announced yet
Prices for the second series of this Sovereign Gold Bond scheme, starting from 22 August i.e. next Monday, have not been announced yet. In the first series, the issue price was fixed by the Reserve Bank of India at Rs 5091 per gram. On buying online, you got an additional discount of Rs 50 per gram, so its price had gone up to Rs 5041 per gram.

How much and who can invest
These bonds can be bought only by resident individuals, Hindu Undivided Families (HUFs), trusts, universities and charitable institutions. Individual investors can buy a maximum of 4 kg of gold bonds in a year. Apart from this, trusts or institutions can buy a maximum of 20 kg of bonds in a year.

Rs.50 off per gram on online purchase
The subscription price will be lower by Rs 50 per gram for investors applying for and paying for gold bonds through digital medium. The investors will be given an interest of 2.5 per cent per annum on the fixed price on a half yearly basis. The tenure of the Sovereign Gold Bond will be of eight years and customers will have the option to exit from it after the fifth year. The maturity period of these bonds is 8 years and the lock-in period is 5 years, so its premature redemption can happen after 5 years and full redemption after 8 years.

Where can I buy gold bonds?
Investors can buy it through Stock Holding Corporation of India Limited (SHCIL), Post Office and recognized stock exchanges, NSE and BSE. However, you cannot buy this from Small Finance Bank and Payment Bank. Buy a unit of Gold Bond and an amount equal to its value is deducted from the account linked to your demat account.

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