Personal BankingValue Added Services

 

Sovereign Gold Bonds will be issued on payment of rupees and denominated in grams of gold. Minimum investment in the bond shall be 1 grams. The bonds can be bought by Indian residents or entities and is capped at 500 grams.
 
SGB Series II 2016-17 Features

Bond Issue - Starting Date
01st September 2016
Bond Issue - Ending Date
09th September 2016
Date of Issuance
23rd September 2016
Issue Price
Rs 3,150/Gram
Minimum investment
1 gram
Maximum investment
500 grams per person per fiscal year
Rate of Interest
2.75 % (fixed rate) per annum
Frequency of Interest Payment
Half Yearly Rests
Mode of Holding
Paper Form or Demat Form
Tenure
8 years, early redemption allowed after 5 years
Taxation
No TDS, but annual interest is fully taxable.
Capital Gain Tax is exempted