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Sovereign Gold Bond (SGB) 2016-17 - Series II

The Government of India has announced the Issue of Sovereign Gold Bond (SGB) 2016-17 - Series II (September 2016).

Sovereign Gold Bonds are Government securities denominated in multiples of gram(s) of gold (1 unit = 1 gram). These Bonds are issued by the Reserve Bank of India on behalf of the Government of India and will be tradable on stock exchange. They are a substitute for investment in physical gold.

Issue Details

  • Issue Closes on: Friday, 9th September 2016
  • Price of Gold: Rs 3150/-
  • Minimum investment: 1 gram
  • Maximum investment: 500 grams
  • Tenure: 8 years with an exit option from 5th year onwards
  • Key Features of Sovereign Gold Bonds
  • SGBs are Government securities denominated in grams of gold (1 unit = 1 gram)
  • Issued by the Reserve Bank of India on behalf of the Government of India
  • Earn returns linked to gold price.
  • Get a fixed interest of 2.75% p.a. payable semi-annually on the amount of initial investment from date of bidding
  • Bonds will carry sovereign guarantee both on redemption amount and on the interest
  • Easy Exit Option - The tenor of the bond is for 8 years with an option to redeem from 5th year onwards on the date on which interest is payable
  • Bonds will be tradable on NSE and BSE
  • Advantages of investing in Sovereign Gold Bond scheme (SGBs) 
  • Safety:  Zero risk of handling physical gold
  •  Interest: Fixed interest of 2.75% on the initial investment from date of bidding.
Tax Benefits: 

  • No TDS applicable on interest
  • Indexation benefit if bond is transferred before maturity
  • Capital gain tax exempt on redemption
  • Assurance of Purity
  • Tradable on Exchange
  • Ease of Borrowing Loan:  Can be used as collateral for loans
Check latest gold rates here.

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