Issue price fixed for gold bonds
In the year 2021-22, a total of 27 tonnes of gold equivalent bonds were issued in 10 tranches. Whose total value was about 13 thousand crores. Whereas this year the second phase will start in August.
Reserve Bank today for the year 2022-23 sovereign gold bond ,Gold Bond) has announced the issue price of the first phase. reserve Bank (RBI) had informed on Thursday itself that the next phase of gold bonds will open for subscription from Monday and investors will be able to apply in the issue for the next 5 days. After this, the next phase of gold bonds will be opened for subscription from 22 to 26 August. That is, after June, the next opportunity to invest in gold bonds will come in August. Gold bonds are considered a very good option for safe investment, in which investors get the benefit of the rise in gold prices. In addition, interest is also available on the amount invested.
What is issue price
The Reserve Bank has kept the issue price for Series-1 of Gold Bond Scheme 2022-23 at Rs 5091 per gram. The Reserve Bank said in a statement that the Gold Bond Series-1 will open for subscription between June 20 and June 24. At the same time, the Reserve Bank informed that such investors who apply digitally will get a discount of Rs 50 per gram, that is, the issue price of gold bonds for these investors will be Rs 5,041 per gram.
What is the specialty of Gold Bond
Gold bonds can be invested with a small amount. The investment in the bond is equivalent to at least one gram of gold, which is currently close to Rs 5100. Along with this, investors applying through digital mode also get a discount of Rs 50 on every bond. Before the subscription phase, the Reserve Bank announces the subscription rate, which is based on the average gold price during the week preceding the subscription. At the same time, investors get an interest of 2.5 percent on the amount of the bond. Along with this, the investor also gets the benefit of the increase in gold prices. The bond is offered for 8 years. However, there is an option to withdraw the investment after 5 years. In the year 2021-22, a total of 27 tonnes of gold equivalent bonds were issued in 10 tranches. Whose total value was about 13 thousand crores.
what are the conditions
The central bank issues bonds on behalf of the Government of India. These can be sold only to citizens of the country, Hindu Undivided Families (HUFs), trusts and charitable institutions. The maximum limit of subscription is 4 kg for common citizens, 4 kg for HUF and 20 kg for trust and similar entities.