Sovereign gold bonds will be available for purchase in four tranches between October 2021 and March 2022. The first tranche opens for subscription on Monday, October 25 and will close on October 29.
Notably, there is no offer for sale during Dhanteras and Diwali.
The second tranche opens on November 29, third on January 10 and fourth on February 28. All the tranches will remain open for subscription for five days.
The tenor of the gold bonds will be 8 years with a 5-year lock-in. The minimum investment is 1 gram and maximum is 4 kg for individuals and HUFs. Trusts, universities and charitable institutions can buy upto 20 kgs.
Investors will earn a fixed interest of 2.5% per year on the amount invested. At the time of exit, they will get an amount equalling the value of gold at that time.
MFDs can sell these bonds to their clients to earn a commission of up to 1%. Stock exchange platforms like NSE NMF II and BSE Star MF allow MFDs to sell these bonds.
