New Delhi, Business Desk . The third phase of Sovereign Gold Bond Scheme 2020-21 will be open for subscription from Monday 8 June 2020 ie from today. This bond has five days to subscribe, meaning customers can subscribe by June 12, 2020. RBI has fixed a price of 4,677 per gram for the third phase of gold bonds. The RBI stated, “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.” It is noteworthy that the central bank announced in April that the government would issue gold bonds in six installments between April 20 and September. According to the RBI, those who apply and pay for Sovereign Gold Bonds in a digital manner will also get a discount of Rs 50 per gram.
In this, only Indian citizens, Hindu undivided families, trusts, universities and charitable institutions can buy these bonds. Sovereign gold bonds are issued for eight years. After the fifth year, you get the option to exit this bond scheme.
How to invest in gold bonds
It is sold by commercial banks, stock holding corporations, post offices and stock exchanges BSE and NSE.
How much can buy
Under this scheme, any person can buy gold bond of minimum one gram. A person can buy a gold bond up to a maximum of four kilograms in a financial year, an undivided Hindu family of up to four kilograms and a trust up to 20 kilograms.
Gold bond compared to physical gold
According to experts, physical gold is beneficial in many respects. First of all, you do not have to worry about the safety and quality of gold bonds like physical gold. Secondly, you do not need to take a locker to keep the gold bond and spend it separately. Apart from this, you also get interest at the rate of 2.5 percent per annum.
