Our all branches are authorised to accept subscription in Sovereign Gold Bond (SGB) 2020-21 Series.
Applications for the SGB shall be accepted from investors as per following table:
S. No. |
Tranche |
Date of Subscription |
Date of Issuance |
1. |
2020-21 Series |
April 20-24, 2020 |
April 28, 2020 |
2. |
2020-21 Series |
May 11-15, 2020 |
May 19, 2020 |
3. |
2020-21 Series |
June 08-12, 2020 |
June 16, 2020 |
4. |
2020-21 Series |
July 06-10, 2020 |
July 14, 2020 |
5. |
2020-21 Series |
August 03-07, 2020 |
August 11, 2020 |
6. |
2020-21 Series |
Aug.31-Sept.04, 2020 |
September 08, 2020 |
7. |
2020-21 Series |
October 12 - 16, 2020 |
October 20, 2020 |
8. |
2020-21 Series |
November 09 - 13, 2020 |
November 18, 2020 |
9. |
2020-21 Series |
December 28, 2020-January 01, 2021 |
January 05, 2021 |
10. |
2020-21 Series |
January 11 - 15, 2021 |
January 19, 2021 |
11. |
2020-21 Series |
February 1 - 5, 2021 |
February 9, 2021 |
12. |
2020-21 Series |
March 1 - 5, 2021 |
March 9, 2021 |
The salient features of SGB 2020 – 21 Series are as follows –
I. ‘PAN Number’ issued by the Income Tax Department to the investor(s) is mandatory for every application; | |||
II. In case application is tendered by the guardian on behalf of the minor, the PAN of minor and Guardian both are compulsory; | |||
III. Investment in SGB shall be applicable to an individual, in his capacity as such individual, or on behalf of minor child, or jointly with any other individual. The bond may also be held by a Trust, HUFs, Charitable Institution and University. | |||
IV. As per RBI guidelines, price of Bond will be fixed in Indian Rupees on the basis of simple average of closing price of gold of 999 purity, published by the India Bullion and Jewelers Association Limited for the last 3 working days of the week preceding the subscription period. The issue price of the Gold Bonds will be Rs. 50 per gram less for those who subscribe through internet banking. | |||
V. Minimum investment in the Bonds shall be 01 (One) gram and in multiples of 01 (One) gram; | |||
VI. Maximum limit of subscription of 4 kg for individuals, 4 kg for Hindu Undivided Family (HUF) and 20 kg for trusts and similar entities notified by the government from time to time per fiscal year (April – – March), provided that
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VII. The bond shall bear interest @ 2.50% (fixed) per annum payable half-yearly on the amount of nominal value; | |||
VIII. Our existing bank customer can apply for SGB from their Internet Banking facility. | |||
IX. Subscription shall be accepted through Cash upto ₹ 20000/- or Cheque (only Clear fund) / Clearing Cheque / DD / PO etc. or Internet banking. | |||
X. Bond shall be redeemed on the expiration of 08 (eight) years from the issue / allotment date; | |||
XI. Premature redemption of the bond is permitted after 5th year from the date of issue on the next interest payment dates; | |||
XII. The interest on Gold Bonds shall be taxable as per the provision of Income Tax Act, 1961 (43 of 1961). The Capital Gains tax arising on redemption of SGB to an individual has been exempted. The indexation benefits will be provided to long term capital gains arising to any person on transfer of bond; | |||
XIII. Nomination facility is available upto max. two nominees; | |||
XIV. The securities will be credited in demat accounts of investors after allotment, subject to matching of particulars furnished in the application with the Depositories’ records. | |||
XV. Bonds will be tradable on stock exchanges within a fortnight or on such a date as notified by the RBI. |