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Second Issue of Gold Bond Scheme Opens today

... Financial Express:

The government will open the second issue of gold bond scheme from Monday, offering an annual interest rate of 2.75 percent to domestic investors. The bonds, which will be sold through banks, post offices and stock holding corporation, would be issued on February 8.

The Reserve Bank of India will issue the second tranche of Sovereign Gold Bonds (SGBs) on January 18-22, offering an annual interest rate of 2.75 percent to domestic investors.

The first tranche of the scheme, which was launched in November, had got a subscription for 915.95 kg gold amounting to Rs 246 crore.

The Reserve Bank has fixed the public issue price at Rs 2,600 per gram for the sovereign gold bonds, for which applications will be accepted from Monday.

Below are the top 8 things to know about the scheme

-Bonds issued in denominations of a gram of gold and in multiple thereof

-Minimum investment - 2gm

-Maximum invest,enty - 500 gm

-Available in DEMAT and paper form

-Tradable on stock exchanges

-Tenure of Bond: 8 years with an exit option in 5th, 6th and 7th year

- Can be used as collateral for loans

-Zero risk of handling actual gold

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