Sovereign Gold Bond

Sovereign Gold Bond

Interest payable, Rates, Periodicity etc.	Minimum Subscription (in gr) for opening of account and maximum (In Kg.)
From 16.06.2022, interest rates are as follows:- o Fixed rate 2.50 % per annum, from the date of issue on the nominal value of Bond. o The interest shall be payable half yearly.	o Minimum 1 gram and maximum 4 Kg per fiscal year for individual and 4 Kg for HUF and 20 Kg for trust and similar entities notified by the Govt. from time to time.

Channel of Subscription/Opening of accounts: - Through all Branches, & Internet Banking. Subscription shall be allowed during tranche wise issuance dates only. (Tranche wise Calendar is issued by RBI from time to time).

Salient features

(a)Who can open:-
(i) A person resident in India,
(ii) Being an individual, in his capacity as such individual, or on behalf of minor child, or jointly with any other individual.
(iii) Trust, HUFs, Charitable Institution, University.

(b)Deposit:-
(i) Minimum 1 gram and maximum 4 Kg per fiscal year for individual and 4 Kg for HUF and 20 Kg for trust and similar
entities notified by the Govt. from time to time

(c)Interest:-
(i) Fixed rate 2.50 % per annum from the date of issue on the nominal value of Bond.
(ii) The interest shall be payable half yearly.

(d)Premature Closure:-
(i) Premature Redemption of the SGB is permitted after five years from the date of issue of bond, on the date on which the next interest is payable.
(ii) The request for premature redemption shall be submitted to branches at least 10 days before the next interest payment date.(Premature tranche wise calendar is issued by RBI from time to time).

(e)Account closure on maturity:-
(i) The SGB shall be repayable on expiration of eight years.
(ii) Investors shall update their account details before one month of maturity date if any mismatch noticed.
Note:- As this is a Government of India Scheme, Customer are advised to visit RBI/Govt. website for latest instructions/ modification in the scheme.