Sovereign Gold Bond (SGB) Scheme 2021-22-Series X opens today; check how to invest through SBI online

The subscription for the Sovereign Gold Bond (SGB) Scheme 2021-22-Series X opens today, 28 February. Interested individuals can apply for the scheme till 4 March. The bonds will be issued on 8 March, according to the State Bank of India website. The price of one gram of gold has been established at Rs 5,109 by the Reserve Bank of India (RBI). A discount of Rs 50 is applicable, if investors apply online. Investors can purchase the SGB Scheme 2021-22-Series X at banks, designated post offices, National Stock Exchange of India, Bombay Stock Exchange and Stock Holding Corporation of India (SHCIL). The bonds can also be bought at the website of the SBI. Steps to apply for SGB Scheme 2021-22-Series X: ―    Visit the website of the State Bank of India at sbi.co.in ―    Login to Net banking services and select the Sovereign Gold Bond Scheme ―    Register yourself if you are a first time user and proceed with the instructions ―    Enter the required details for the SGB scheme and fill in the Depository Participant from NSDL or CDSL, where your demat account is located ―    Enter the Participant id, client id and other details, then press submit ―    Once the registration is done, apply for purchase option given on the page ―    Enter the subscription quantity, nominee details and so on ―    Enter the One-Time Password (OTP) sent to mobile phone to complete the process As per the rules of the RBI “Every application must be accompanied by the ‘PAN Number’ issued by the Income Tax Department to the investor(s)”. The interest rate on the SGB will be 2.50 percent per annum on the initial investment, according to the RBI. The interest amount will be credited semi-annually to the account of the investor. The gold bond scheme will have a tenor of eight years. Investors can avail an exit option in the fifth, sixth and seventh years, on interest payment dates. The minimum investment required in one gram of gold, while the maximum limit for an individual is four kilos. The maximum amount is four kilograms for Hindu Undivided Families as well, and twenty kilograms for trusts and similar entities in a fiscal year from April to March. The Sovereign Gold Bond Scheme was started in the year 2015 by the Government of India as part of the Gold Monetisation Scheme. Read all the Latest News , Trending News ,  Cricket News , Bollywood News , India News and Entertainment News here. Follow us on Facebook, Twitter and Instagram.