The third phase of the Sovereign Gold Bond Scheme 2020-21 will open for subscription on Monday, June 8, 2020, for the Indian buyer. This bond can be subscribed till June 12, 2020. The central bank announced in April that the government would issue gold bonds in six installments between April 20 and September. RBI will issue Sovereign Gold Bond for 2020-21 on behalf of the government. RBI has fixed a price of 4,677 per gram for the third phase of gold bonds. The RBI has said, "The nominal price of the bond has been fixed at Rs 4,677 per gram based on the average of the 24-carat gold closing price in the three trading sessions (June 3-June 5, 2020) before the subscription period."
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In its statement, RBI has said that those who apply and pay for Sovereign Gold Bonds in a digital manner will also get a discount of Rs 50 per gram. For such investors, the issue price of the bond will be Rs 4,627 per gram.
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Sovereign Gold Bond is issued for eight years. After the fifth year, you get the option to exit this bond scheme. Indian citizens, Hindu undivided families, trusts, universities and charitable institutions can buy these bonds. Under this scheme, any person can buy gold bond of minimum one gram. A person can buy a gold bond of up to four kilograms in a financial year, undivided Hindu family also up to four kilograms and trust up to 20 kilograms.
