Sovereign Gold Bonds coming soon, you can buy at discount; all dates revealed here

If you are looking for a safe haven to park your money in these dangerous times, and gold is on your mind, then a great opportunity is coming your way soon. The government will be issuing Sovereign Gold Bonds (SGB) for the first six months of this fiscal (from April to September)

Government has come out with a timeline for the issuance of SGB which will be issued in six tranches from April 2020 to September 2020. Source: Reuters

If you are looking for a safe haven to park your money in these dangerous times, and gold is on your mind, then a great opportunity is coming your way soon. The government will be issuing Sovereign Gold Bonds (SGB) for the first six months of this fiscal (from April to September). The government has come out with a timeline for the issuance of SGB in consultation with the banking regulator - Reserve Bank of India (RBI). The Sovereign Gold Bonds will be issued in six tranches from April 2020 to September 2020.

SGBs are government securities denominated in grams of gold and are substitutes for holding physical gold. Investors have to pay the issue price in cash and the bonds will be redeemed in cash on maturity. The Bond is issued by the Reserve Bank on behalf of Government of India.

List of SGB issuance dates:

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SNo Tranche Subscription Issuance date
1. 2020-21 Series I Apr 20-24, 2020 April 28, 2020
2. 2020-21 Series II May 11-15, 2020 May 19, 2020
3. 2020-21 Series III June 08-12, 2020 June 16, 2020
4. 2020-21 Series IV July 06-10, 2020 July 14, 2020
5. 2020-21 Series V Aug 03-07, 2020 August 11, 2020
6. 2020-21 Series VI Aug.31-Sep 04 September 08, 2020

SGB are restricted for sale to resident individuals, HUFs, Trusts, Universities and Charitable Institutions. The Bonds will be denominated in multiples of gram(s) of gold with a basic unit of 1 gram. The tenor of the Bond will be for a period of 8 years with exit option after 5th year to be exercised on the interest payment dates. Find here the link to know more.

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The minimum permissible investment will be 1 gram of gold while the maximum limit is of subscription shall be 4 KG for individual, 4 Kg for HUF and 20 Kg for trusts and similar entities per fiscal (April-March) notified by the Government from time to time.

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The payment for the Bonds will be through cash payment (up to a maximum of Rs 20,000) or demand draft or cheque or electronic banking. There is a discount available too to everyone. Gold Bonds issue price will be Rs 50 per gram less for those who subscribe online and pay through digital mode.

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