Government to issue Sovereign Gold Bonds 2016-17 Series IV from today

Government will accept applications from today to issue Sovereign Gold Bonds 2016-17-Series IV and the application for the bonds will be accepted till 3rd of next month. The bonds will be issued on 17th of next month. 

The issue price of the Gold Bonds will be 50 rupees per gram less than the nominal value. In order to move towards the digital payments, the cash payments for the Bond will be acceptable up to 20,000 rupees. Minimum investment in the bonds shall be one gram with a maximum limit of subscription of five hundred grams per person per fiscal



year. These will be sold through banks, Stock Holding Corporation of India Limited, designated post offices and recognized stock exchanges. The investors will be compensated at a fixed rate of 2.50 per cent per annum payable semi-annually on the nominal value. 

The bonds' tenure will be eight years with an exit option from the fifth year to be exercised on the interest payment dates. The bonds will be restricted for sale to resident Indian entities including individuals, Hindu Undivided Families, Trusts, Universities and Charitable Institutions.