Sovereign Gold Bonds(SGB) Scheme

14-Jun-2023: Sovereign Gold Bond Scheme 2023-24

The Government of India, in consultation with the Reserve Bank of India, has decided to issue Sovereign Gold Bonds (SGBs) in tranches as per the calendar specified below:

S. No.	Tranche	Date of Subscription	Date of Issuance
1.	2023-24 Series I	June 19 - June 23, 2023	June 27, 2023
2.	2023-24 Series II	September 11-September 15, 2023	September 20, 2023

The SGBs will be sold through Scheduled Commercial banks (except Small Finance Banks, Payment Banks and Regional Rural Banks), Stock Holding Corporation of India Limited (SHCIL), Clearing Corporation of India Limited (CCIL), designated post offices, and recognised stock exchanges viz., National Stock Exchange of India Limited and Bombay Stock Exchange Limited. The features of the Bond are as under:

Sl. No.	Item	Details
1	Product name	Sovereign Gold Bond Scheme 2023-24
2	Issuance	To be issued by the Reserve Bank of India on behalf of the Government of India.
3	Eligibility	The SGBs will be restricted for sale to resident individuals, HUFs, Trusts, Universities and Charitable Institutions.
4	Denomination	The SGBs will be denominated in multiples of gram(s) of gold with a basic unit of One gram.
5	Tenor	The tenor of the SGB will be for a period of eight years with an option of premature redemption after 5th year to be exercised on the date on which interest is payable.
6	Minimum size	Minimum permissible investment will be One gram of gold.
7	Maximum limit	The maximum limit of subscription shall be 4 Kg for individual, 4 Kg for HUF and 20 Kg for trusts and similar entities per fiscal year (April-March) notified by the Government from time to time. A self-declaration to this effect will be obtained from the investors at the time of making an application for subscription. The annual ceiling will include SGBs subscribed under different tranches, and those purchased from the secondary market, during the fiscal year.
8	Joint holder	In case of joint holding, the investment limit of 4 Kg will be applied to the first applicant only.
9	Issue price	Price of SGB will be fixed in Indian Rupees on the basis of simple average of closing price of gold of 999 purity, published by the India Bullion and Jewellers Association Limited (IBJA) for the last three working days of the week preceding the subscription period. The issue price of the SGBs will be less by ₹50 per gram for the investors who subscribe online and pay through digital mode.
10	Payment option	Payment for the SGBs will be through cash payment (upto a maximum of ₹20,000) or demand draft or cheque or electronic banking.
11	Issuance form	The SGBs will be issued as Government of India Stock under Government Securities Act, 2006. The investors will be issued a Certificate of Holding for the same. The SGBs will be eligible for conversion into demat form.
12	Redemption price	The redemption price will be in Indian Rupees based on simple average of closing price of gold of 999 purity, of previous three working days published by IBJA Ltd.
13	Sales channel	SGBs will be sold through Scheduled Commercial banks (except Small Finance Banks, Payment Banks and Regional Rural Banks), Stock Holding Corporation of India Limited (SHCIL), Clearing Corporation of India Limited (CCIL), designated post offices (as may be notified) and recognised stock exchanges viz., National Stock Exchange of India Limited and Bombay Stock Exchange Limited, either directly or through agents.
14	Interest rate	The investors will be compensated at a fixed rate of 2.50 per cent per annum payable semi-annually on the nominal value.
15	Collateral	The SGBs can be used as collateral for loans. The loan-to-value (LTV) ratio will be as applicable to any ordinary gold loan, mandated by the Reserve Bank from time to time.
16	KYC documentation	Know-your-customer (KYC) norms will be the same as that for purchase of physical gold. KYC documents such as Voter ID, Aadhaar card/PAN or TAN /Passport will be required. Every application must be accompanied by the ‘PAN Number’ issued by the Income Tax Department to individuals and other entities.
17	Tax treatment	The interest on SGBs shall be taxable as per the provision of Income Tax Act, 1961 (43 of 1961). The capital gains tax arising on redemption of SGB to an individual is exempted. The indexation benefits will be provided to long term capital gains arising to any person on transfer of the SGB.
18	Tradability	SGBs shall be eligible for trading.
19	SLR eligibility	SGBs acquired by the banks through the process of invoking lien/hypothecation/pledge alone, shall be counted towards Statutory Liquidity Ratio.
20	Commission	Commission for distribution of the bond shall be paid at the rate of one per cent of the total subscription received by the receiving offices and receiving offices shall share at least 50 per cent of the commission so received with the agents or sub agents for the business procured through them.

14-Jun-2023: Sovereign Gold Bond Scheme 2023-24

The Government of India, in consultation with the Reserve Bank of India, has decided to issue Sovereign Gold Bonds (SGBs) in tranches as per the calendar specified below:

S. No.	Tranche	Date of Subscription	Date of Issuance
1.	2023-24 Series I	June 19 - June 23, 2023	June 27, 2023
2.	2023-24 Series II	September 11-September 15, 2023	September 20, 2023

Sl. No.	Item	Details
1	Product name	Sovereign Gold Bond Scheme 2023-24
2	Issuance	To be issued by the Reserve Bank of India on behalf of the Government of India.
3	Eligibility	The SGBs will be restricted for sale to resident individuals, HUFs, Trusts, Universities and Charitable Institutions.
4	Denomination	The SGBs will be denominated in multiples of gram(s) of gold with a basic unit of One gram.
5	Tenor	The tenor of the SGB will be for a period of eight years with an option of premature redemption after 5th year to be exercised on the date on which interest is payable.
6	Minimum size	Minimum permissible investment will be One gram of gold.
7	Maximum limit	The maximum limit of subscription shall be 4 Kg for individual, 4 Kg for HUF and 20 Kg for trusts and similar entities per fiscal year (April-March) notified by the Government from time to time. A self-declaration to this effect will be obtained from the investors at the time of making an application for subscription. The annual ceiling will include SGBs subscribed under different tranches, and those purchased from the secondary market, during the fiscal year.
8	Joint holder	In case of joint holding, the investment limit of 4 Kg will be applied to the first applicant only.
9	Issue price	Price of SGB will be fixed in Indian Rupees on the basis of simple average of closing price of gold of 999 purity, published by the India Bullion and Jewellers Association Limited (IBJA) for the last three working days of the week preceding the subscription period. The issue price of the SGBs will be less by ₹50 per gram for the investors who subscribe online and pay through digital mode.
10	Payment option	Payment for the SGBs will be through cash payment (upto a maximum of ₹20,000) or demand draft or cheque or electronic banking.
11	Issuance form	The SGBs will be issued as Government of India Stock under Government Securities Act, 2006. The investors will be issued a Certificate of Holding for the same. The SGBs will be eligible for conversion into demat form.
12	Redemption price	The redemption price will be in Indian Rupees based on simple average of closing price of gold of 999 purity, of previous three working days published by IBJA Ltd.
13	Sales channel	SGBs will be sold through Scheduled Commercial banks (except Small Finance Banks, Payment Banks and Regional Rural Banks), Stock Holding Corporation of India Limited (SHCIL), Clearing Corporation of India Limited (CCIL), designated post offices (as may be notified) and recognised stock exchanges viz., National Stock Exchange of India Limited and Bombay Stock Exchange Limited, either directly or through agents.
14	Interest rate	The investors will be compensated at a fixed rate of 2.50 per cent per annum payable semi-annually on the nominal value.
15	Collateral	The SGBs can be used as collateral for loans. The loan-to-value (LTV) ratio will be as applicable to any ordinary gold loan, mandated by the Reserve Bank from time to time.
16	KYC documentation	Know-your-customer (KYC) norms will be the same as that for purchase of physical gold. KYC documents such as Voter ID, Aadhaar card/PAN or TAN /Passport will be required. Every application must be accompanied by the ‘PAN Number’ issued by the Income Tax Department to individuals and other entities.
17	Tax treatment	The interest on SGBs shall be taxable as per the provision of Income Tax Act, 1961 (43 of 1961). The capital gains tax arising on redemption of SGB to an individual is exempted. The indexation benefits will be provided to long term capital gains arising to any person on transfer of the SGB.
18	Tradability	SGBs shall be eligible for trading.
19	SLR eligibility	SGBs acquired by the banks through the process of invoking lien/hypothecation/pledge alone, shall be counted towards Statutory Liquidity Ratio.
20	Commission	Commission for distribution of the bond shall be paid at the rate of one per cent of the total subscription received by the receiving offices and receiving offices shall share at least 50 per cent of the commission so received with the agents or sub agents for the business procured through them.

2022

16-Dec-2022: Sovereign Gold Bond Scheme 2022-23 (Series III) – Issue Price

In terms of Government of India Notification No.4(6)-B(W&M)/2022 dated December 15, 2022, Sovereign Gold Bonds 2022-23 (Series III) will be opened for subscription during the period December 19-23, 2022 with Settlement date December 27, 2022. The issue price of the Bond during the subscription period shall be Rs 5,409 (Rupees Five Thousand Four Hundred Nine only) per gram, as also published by RBI in their Press Release dated December 16, 2022.

The Government of India in consultation with the Reserve Bank of India has decided to allow discount of Rs 50 (Rupees Fifty only) per gram from the issue price to those investors who apply online and the payment is made through digital mode. For such investors the issue price of Gold Bond will be Rs 5,359 (Rupees Five Thousand Three Hundred Fifty Nine only) per gram of gold.

19-Aug-2022: Sovereign Gold Bond Scheme 2022-23 (Series II) – Issue Price

In terms of Government of India Notification No.4(6)-B(W&M)/2022 dated June 15, 2022, Sovereign Gold Bonds 2022-23 (Series II) will be opened for subscription during the period August 22-26, 2022 with Settlement date August 30, 2022. The issue price of the Bond during the subscription period shall be Rs 5,197 (Rupees five thousand one hundred ninety seven only) per gram, as also published by RBI in their Press Release dated August 19, 2022.

Government of India in consultation with the Reserve Bank of India has decided to allow discount of Rs 50 (Rupees Fifty only) per gram from the issue price to those investors who apply online and the payment is made through digital mode. For such investors the issue price of Gold Bond will be Rs 5,147 (Rupees five thousand one hundred forty seven only) per gram of gold.

20-Jun-2022: Sovereign Gold Bond Scheme 2022-23 (Series I) – Issue Price

In terms of Government of India Notification No.4(6)-B(W&M)/2022 dated June 15, 2022, Sovereign Gold Bonds 2022-23 (Series I) will be opened for subscription during the period June 20-24, 2022 with Settlement date June 28, 2022. The issue price of the Bond during the subscription period shall be ` 5,091 (Rupees five thousand ninety one only) per gram, as also published by RBI in their Press Release dated June 17, 2022.

Government of India in consultation with the Reserve Bank of India has decided to allow discount of ` 50 (Rupees Fifty only) per gram from the issue price to those investors who apply online and the payment is made through digital mode. For such investors the issue price of Gold Bond will be ` 5,041 (Rupees five thousand forty one only) per gram of gold.

16-Jun-2022: Sovereign Gold Bond Scheme 2022-23

The Government of India, in consultation with the Reserve Bank of India, has decided to issue Sovereign Gold Bonds in tranches as per the calendar specified below:

S. No.	Tranche	Date of Subscription	Date of Issuance
1.	2022-23- Series I	June 20- June 24, 2022	June 28, 2022
2.	2022-23 Series II	August 22 –August 26, 2022	August 30, 2022

The Sovereign Gold Bonds (SGBs) will be sold through Scheduled Commercial banks(except Small Finance Banks and Payment Banks), Stock Holding Corporation of India Limited (SHCIL),Clearing Corporation of India Limited (CCIL), designated post offices, and recognised stock exchanges viz., National Stock Exchange of India Limited and Bombay Stock Exchange Limited. The features of the Bond are as under:

Sl. No.	Item	Details
1	Product name	Sovereign Gold Bond Scheme 2022-23
2	Issuance	To be issued by Reserve Bank of India on behalf of the Government of India.
3	Eligibility	The SGBs will be restricted for sale to resident individuals, HUFs, Trusts, Universities and Charitable Institutions.
4	Denomination	The SGBs will be denominated in multiples of gram(s) of gold with a basic unit of one gram.
5	Tenor	The tenor of the SGB will be for a period of eight years with an option of premature redemption after 5th year to be exercised on the date on which interest is payable.
6	Minimum size	Minimum permissible investment will be One gram of gold.
7	Maximum limit	The maximum limit of subscription shall be 4 KG for individual, 4 Kg for HUF and 20 Kg for trusts and similar entities per fiscal year (April-March) notified by the Government from time to time. A self-declaration to this effect will be obtained. The annual ceiling will include SGBs subscribed under different tranches, and those purchased from the Secondary Market, during the fiscal year.
8	Joint holder	In case of joint holding, the investment limit of 4 KG will be applied to the first applicant only.
9	Issue price	Price of SGB will be fixed in Indian Rupees on the basis of simple average of closing price of gold of 999 purity, published by the India Bullion and Jewellers Association Limited (IBJA) for the last three working days of the week preceding the subscription period. The issue price of the SGBs will be less by ` 50 per gram for the investors who subscribe online and pay through digital mode.
10	Payment option	Payment for the SGBs will be through cash payment (upto a maximum of `20,000) or demand draft or cheque or electronic banking.
11	Issuance form	The SGBs will be issued as Government of India Stock under Government Securities Act, 2006. The investors will be issued a Certificate of Holding for the same. The SGBs will be eligible for conversion into demat form.
12	Redemption price	The redemption price will be in Indian Rupees based on simple average of closing price of gold of 999 purity, of previous three working days published by IBJA Ltd.
13	Sales channel	SGBs will be sold through Commercial banks, Stock Holding Corporation of India Limited (SHCIL), Clearing Corporation of India Limited (CCIL), designated post offices (as may be notified) and recognised stock exchanges viz., National Stock Exchange of India Limited and Bombay Stock Exchange Limited, either directly or through agents.
14	Interest rate	The investors will be compensated at a fixed rate of 2.50 percent per annum payable semi-annually on the nominal value.
15	Collateral	Bonds can be used as collateral for loans. The loan-to-value (LTV) ratio is to be set equal to ordinary gold loan mandated by the Reserve Bank from time to time.
16	KYC documentation	Know-your-customer (KYC) norms will be the same as that for purchase of physical gold. KYC documents such as Voter ID, Aadhaar card/PAN or TAN /Passport will be required. Every application must be accompanied by the ‘PAN Number’ issued by the Income Tax Department to individuals and other entities.
17	Tax treatment	The interest on SGBs shall be taxable as per the provision of Income Tax Act, 1961 (43 of 1961). The capital gains tax arising on redemption of SGB to an individual is exempted. The indexation benefits will be provided to long term capital gains arising to any person on transfer of bond.
18	Tradability	SGBs shall be eligible for trading.
19	SLR eligibility	SGBs acquired by the banks through the process of invoking lien/hypothecation/pledge alone, shall be counted towards Statutory Liquidity Ratio.
20	Commission	Commission for distribution of the bond shall be paid at the rate of one percent of the total subscription received by the receiving offices and receiving offices shall share at least 50 percent of the commission so received with the agents or sub agents for the business procured through them.

25-Feb-2022: Sovereign Gold Bond Scheme 2021-22– Issue price Series-X

In terms of Government of India Notification No.4(5)-B(W&M)/2021 dated October 21, 2021, Sovereign Gold Bonds 2021-22 (Series X) will be opened for subscription during the period February 28- March 04, 2022 with Settlement date March 08, 2022. The issue price of the Bond during the subscription period shall be Rs 5,109 (Rupees five thousand one hundred nine only) – per gram, as also published by RBI in their Press Release dated February 25, 2022.

The Government of India in consultation with the Reserve Bank of India has decided to allow discount of Rs 50 (Rupees Fifty only) per gram from the issue price to those investors who apply online and the payment is made through digital mode. For such investors the issue price of Gold Bond will be Sr 5,059 (Rupees five thousand fifty nine only) per gram of gold.

7-Jan-2022: Sovereign Gold Bond Scheme 2021-22 (Series IX) – Issue Price

In terms of Government of India Notification No.4(5)-B(W&M)/2021 dated October 21, 2021, Sovereign Gold Bonds 2021-22 (Series IX) will be opened for subscription during the period January 10-14, 2022 with Settlement date January 18, 2022. The issue price of the Bond during the subscription period shall be Rs 4,786 (Rupees Four thousand Seven hundred eighty six only) – per gram, as also published by RBI in their Press Release dated January 07, 2022.

The Government of India in consultation with the Reserve Bank of India has decided to allow discount of Rs 50 (Rupees Fifty only) per gram from the issue price to those investors who apply online and the payment is made through digital mode. For such investors the issue price of Gold Bond will be Rs 4,736 (Rupees Four thousand seven hundred thirty six only) per gram of gold.

2021

26-Nov-2021: Sovereign Gold Bond Scheme 2021-22 (Series VIII) – Issue Price

In terms of Government of India Notification No.4(5)-B(W&M)/2021 dated October 21, 2021, Sovereign Gold Bonds 2021-22 (Series VIII) will be opened for subscription during the period November 29- December 03, 2021 with Settlement date December 07, 2021. The issue price of the Bond during the subscription period shall be Rs 4,791 (Rupees Four thousand Seven hundred ninety one only) – per gram, as also published by RBI in their Press Release dated November 26, 2021.

The Government of India in consultation with the Reserve Bank of India has decided to allow discount of Rs 50 (Rupees Fifty only) per gram from the issue price to those investors who apply online and the payment is made through digital mode. For such investors the issue price of Gold Bond will be Rs 4,741 (Rupees Four thousand seven hundred forty one only) per gram of gold.

23-Oct-2021: Sovereign Gold Bond Scheme 2021-22 (Series VII) – Issue Price

In terms of Government of India Notification No.4(5)-B(W&M)/2021 dated October 21, 2021, Sovereign Gold Bonds 2021-22 (Series VII) will be opened for subscription during the period October 25-29, 2021 with Settlement date November 02, 2021. The issue price of the Bond during the subscription period shall be `4,765 (Rupees Four thousand Seven hundred sixty five only) – per gram, as also published by RBI in their Press Release dated October 22, 2021.

Government of India in consultation with the Reserve Bank of India has decided to allow discount of `50 (Rupees Fifty only) per gram from the issue price to those investors who apply online and the payment is made through digital mode. For such investors the issue price of Gold Bond will be `4,715 (Rupees Four thousand seven hundred fifteen only) per gram of gold.

6-Aug-2021: Sovereign Gold Bond Scheme 2021-22 (Series V) – Issue Price

In terms of Government of India Notification No.4(5)-B (W&M)/2021 dated May 12, 2021, Sovereign Gold Bonds 2021-22 (Series V) will be opened for the period August 9-13, 2021 with Settlement date August 17, 2021. The issue price of the Bond during the subscription period shall be Rs 4,790 (Rupees Four thousand Seven hundred ninety only) – per gram, as also published by RBI in their Press Release dated August 06, 2021.

The Government of India in consultation with the Reserve Bank of India has decided to allow discount of Rs 50 (Rupees Fifty only) per gram from the issue price to those investors who apply online and the payment is made through digital mode. For such investors the issue price of Gold Bond will be Rs 4,740 (Rupees Four thousand seven hundred forty only) per gram of gold.

9-Jul-2021: Sovereign Gold Bond Scheme 2021-22–Series-IV- Issue price

In terms of Government of India Notification No.4(5)-B(W&M)/2021 dated May 12, 2021, Sovereign Gold Bonds 2021-22 (Series IV) will be opened for the period July 12-16, 2021 with Settlement date July 20, 2021. The issue price of the Bond during the subscription period shall be Rs 4,807 (Rupees Four thousand eight hundred seven only) – per gram, as also published by RBI in their Press Release dated 9th July, 2021.

The Government of India in consultation with the Reserve Bank of India has decided to allow discount of Rs 50 (Rupees Fifty only) per gram from the issue price to those investors who apply online and the payment is made through digital mode. For such investors the issue price of Gold Bond will be Rs 4,757 (Rupees Four thousand seven hundred fifty seven only) per gram of gold.

21-May-2021: Sovereign Gold Bond Scheme 2021-22 (Series II) – Issue Price

In terms of the Government of India Notification No.4(5)-B(W&M)/2021 dated May 12, 2021, Sovereign Gold Bonds 2021-22 (Series II) will be opened for the period May 24-28, 2021 with Settlement date June 01, 2021. The issue price of the Bond during the subscription period shall be Rs 4,842 (Rupees Four thousand eight hundred forty two only) – per gram, as also published by RBI in their Press Release dated May 21, 2021.

The Government of India in consultation with the Reserve Bank of India has decided to allow discount of Rs 50 (Rupees Fifty only) per gram from the issue price to those investors who apply online and the payment is made through digital mode. For such investors the issue price of Gold Bond will be Rs 4,792 (Rupees Four thousand Seven hundred Ninety two only) per gram of gold.

14-May-2021: Sovereign Gold Bond Scheme 2021-22 (Series I) – Issue Price

In terms of Government of India Notification No.4(5)-B(W&M)/2021 dated May 12, 2021, Sovereign Gold Bonds 2021-22 (Series I) will be opened for the period May 17-21, 2021 with Settlement date May 25, 2021. The issue price of the Bond during the subscription period shall be Rs 4,777 (Rupees Four thousand seven hundred Seventy seven only) – per gram, as also published by RBI in their Press Release dated May 14, 2021.

The Government of India in consultation with the Reserve Bank of India has decided to allow discount of Rs 50 (Rupees Fifty only) per gram from the issue price to those investors who apply online and the payment is made through digital mode. For such investors the issue price of Gold Bond will be Rs 4,727 (Rupees Four thousand Seven hundred twenty seven only) per gram of gold.

12-May-2021: Sovereign Gold Bond Scheme 2021-22

The Government of India, in consultation with the Reserve Bank of India, has decided to issue Sovereign Gold Bonds. The Sovereign Gold Bonds will be issued in six tranches from May 2021 to September 2021as per the calendar specified below:

S. No.	Tranche	Date of Subscription	Date of Issuance
1.	2021-22- Series I	May 17-21, 2021	May 25, 2021
2.	2021-22 Series II	May 24 – 28, 2021	June 01, 2021
3.	2021-22 Series III	May 31 – June 04, 2021	June 08, 2021
4.	2021-22 Series IV	July 12-16, 2021	July 20, 2021
5.	2021-22 Series V	Aug. 09-13, 2021	Aug. 17, 2021
6.	2021-22 Series VI	Aug. 30- Sept.03, 2021	Sept. 07, 2021

The Bonds will be sold through Scheduled Commercial banks (except Small Finance Banks and Payment Banks), Stock Holding Corporation of India Limited (SHCIL),designated post offices, and recognised stock exchanges viz., National Stock Exchange of India Limited and Bombay Stock Exchange Limited. The features of the Bond are as under:

Sl. No.	Item	Details
1	Product name	Sovereign Gold Bond 2021-22
2	Issuance	To be issued by Reserve Bank of India on behalf of the Government of India.
3	Eligibility	The Bonds will be restricted for sale to resident individuals, HUFs, Trusts, Universities and Charitable Institutions.
4	Denomination	The Bonds will be denominated in multiples of gram(s) of gold with a basic unit of 1 gram.
5	Tenor	The tenor of the Bond will be for a period of 8 years with exit option after5th year to be exercised on the next interest payment dates.
6	Minimum size	Minimum permissible investment will be 1 gram of gold.
7	Maximum limit	The maximum limit of subscription shall be 4 KG for individual, 4 Kg for HUF and 20 Kg for trusts and similar entities per fiscal (April-March) notified by the Government from time to time. A self-declaration to this effect will be obtained. The annual ceiling will include bonds subscribed under different tranches during initial issuance by Government and those purchased from the Secondary Market.
8	Joint holder	In case of joint holding, the investment limit of 4 KG will be applied to the first applicant only.
9	Issue price	Price of Bond will be fixed in Indian Rupees on the basis of simple average of closing price of gold of 999 purity, published by the India Bullion and Jewellers Association Limited for the last 3 working days of the week preceding the subscription period. The issue price of the Gold Bonds will be `50 per gram less for those who subscribe online and pay through digital mode.
10	Payment option	Payment for the Bonds will be through cash payment (upto a maximum of `20,000) or demand draft or cheque or electronic banking.
11	Issuance form	The Gold Bonds will be issued as Government of India Stock under GS Act, 2006. The investors will be issued a Holding Certificate for the same. The Bonds are eligible for conversion into demat form.
12	Redemption price	The redemption price will be in Indian Rupees based on simple average of closing price of gold of 999 purity, of previous 3 working days published by IBJA Ltd.
13	Sales channel	Bonds will be sold through Commercial banks, Stock Holding Corporation of India Limited (SHCIL), designated post offices (as may be notified) and recognised stock exchanges viz., National Stock Exchange of India Limited and Bombay Stock Exchange, either directly or through agents.
14	Interest rate	The investors will be compensated at a fixed rate of 2.50 percent per annum payable semi-annually on the nominal value.
15	Collateral	Bonds can be used as collateral for loans. The loan-to-value (LTV) ratio is to be set equal to ordinary gold loan mandated by the Reserve Bank from time to time.
16	KYC documentation	Know-your-customer (KYC) norms will be the same as that for purchase of physical gold. KYC documents such as Voter ID, Aadhaar card/PAN or TAN /Passport will be required. Every application must be accompanied by the ‘PAN Number’ issued by the Income Tax Department to individuals and other entities.
17	Tax treatment	The interest on Gold Bonds shall be taxable as per the provision of Income Tax Act, 1961 (43 of 1961). The capital gains tax arising on redemption of SGB to an individual has been exempted. The indexation benefits will be provided to long term capital gains arising to any person on transfer of bond.
18	Tradability	Bonds will be tradable on stock exchanges within a fortnight of the issuance on a date as notified by the RBI.
19	SLR eligibility	Bonds acquired by the banks through the process of invoking lien/hypothecation/pledge alone, shall be counted towards Statutory Liquidity Ratio.
20	Commission	Commission for distribution of the bond shall be paid at the rate of 1% of the total subscription received by the receiving offices and receiving offices shall share at least 50% of the commission so received with the agents or sub agents for the business procured through them.

26-Feb-2021: Sovereign Gold Bond Scheme 2020-21 (Series XII) – Issue Price

In terms of Government of India Notification No.4(4)-B(W&M)/2020 dated October 09, 2020, Sovereign Gold Bonds 2020-21 (Series XII) will be opened for the period March 01-05, 2021 with Settlement date March 09, 2021. The issue price of the Bond during the subscription period shall be Rs 4,662 (Rupees Four thousand Six hundred Sixty two only) – per gram, as also published by RBI in their Press Release dated February 26, 2021.

The Government of India in consultation with the Reserve Bank of India has decided to allow discount of Rs 50 (Rupees Fifty only) per gram from the issue price to those investors who apply online and the payment is made through digital mode. For such investors the issue price of Gold Bond will be Rs 4,612 (Rupees Four thousand Six hundred twelve only) per gram of gold.

29-Jan-2021: Sovereign Gold Bond Scheme 2020-21 (Series XI) – Issue Price

In terms of Government of India Notification No.4(4)-B(W&M)/2020 dated October 09, 2020, Sovereign Gold Bonds 2020-21 (Series XI) will be opened for the period February 01-05, 2021 with Settlement date February 09, 2021. The issue price of the Bond during the subscription period shall be `4,912 (Rupees Four thousand Nine hundred twelve only) – per gram, as also published by RBI in their Press Release dated January 29, 2021.

Government of India in consultation with the Reserve Bank of India has decided to allow discount of `50 (Rupees Fifty only) per gram from the issue price to those investors who apply online and the payment is made through digital mode. For such investors the issue price of Gold Bond will be `4,862 (Rupees Four thousand eight hundred sixty two only) per gram of gold.

8-Jan-2021: Sovereign Gold Bond Scheme 2020-21 (Series X) – Issue Price

In terms of Government of India Notification No.4(4)-B(W&M)/2020 dated October 09, 2020, Sovereign Gold Bonds 2020-21 (Series X) will be opened for the period January 11-15, 2021 with Settlement date January 19, 2021. The issue price of the Bond during the subscription period shall be Rs5,104 (Rupees Five thousand one hundred four only) – per gram, as also published by RBI in their Press Release dated January 08, 2021.

The Government of India in consultation with the Reserve Bank of India has decided to allow discount of Rs50 (Rupees Fifty only) per gram from the issue price to those investors who apply online and the payment is made through digital mode. For such investors the issue price of Gold Bond will be Rs5,054 (Rupees Five thousand Fifty four only) per gram of gold.

2020

26-Dec-2020: Sovereign Gold Bond Scheme 2020-21 (Series IX) – Issue Price

In terms of Government of India Notification No.4(4)-B(W&M)/2020 dated October 09, 2020, Sovereign Gold Bonds 2020-21 (Series IX) will be opened for the period December 28, 2020 - January 01, 2021 with Settlement date January 05, 2021. The issue price of the Bond during the subscription period shall be Rs 5,000 (Rupees Five thousand only) – per gram, as also published by RBI in their Press Release dated December 24, 2020.

Government of India in consultation with the Reserve Bank of India has decided to allow discount of Rs 50 (Rupees Fifty only) per gram from the issue price to those investors who apply online and the payment is made through digital mode. For such investors the issue price of Gold Bond will be Rs 4,950 (Rupees Four thousand Nine hundred Fifty only) per gram of gold.

13-Apr-2020: Sovereign Gold Bond Scheme 2020-21

The Government of India, in consultation with the Reserve Bank of India, has decided to issue Sovereign Gold Bonds. The Sovereign Gold Bonds will be issued in six tranches from April 2020 to September 2020 as per the calendar specified below:

S. No.	Tranche	Date of Subscription	Date of Issuance
1.	2020-21 Series I	April 20-24, 2020	April 28, 2020
2.	2020-21 Series II	May 11-15, 2020	May 19, 2020
3.	2020-21 Series III	June 08-12, 2020	June 16, 2020
4.	2020-21 Series IV	July 06-10, 2020	July 14, 2020
5.	2020-21 Series V	August 03-07, 2020	August 11, 2020
6.	2020-21 Series VI	Aug.31-Sept.04, 2020	September 08, 2020

The Bonds will be sold through Scheduled Commercial banks (except Small Finance Banks and Payment Banks), Stock Holding Corporation of India Limited (SHCIL), designated post offices, and recognised stock exchanges viz., National Stock Exchange of India Limited and Bombay Stock Exchange Limited. The features of the Bond are as under:

Sl. No.	Item	Details
1	Product name	Sovereign Gold Bond 2020-21
2	Issuance	To be issued by Reserve Bank of India on behalf of the Government of India.
3	Eligibility	The Bonds will be restricted for sale to resident individuals, HUFs, Trusts, Universities and Charitable Institutions.
4	Denomination	The Bonds will be denominated in multiples of gram(s) of gold with a basic unit of 1 gram.
5	Tenor	The tenor of the Bond will be for a period of 8 years with exit option after 5thyear to be exercised on the interest payment dates.
6	Minimum size	Minimum permissible investment will be 1 gram of gold.
7	Maximum limit	The maximum limit of subscription shall be 4 KG for individual, 4 Kg for HUF and 20 Kg for trusts and similar entities per fiscal (April-March) notified by the Government from time to time. A self-declaration to this effect will be obtained. The annual ceiling will include bonds subscribed under different tranches during initial issuance by Government and those purchased from the Secondary Market.
8	Joint holder	In case of joint holding, the investment limit of 4 KG will be applied to the first applicant only.
9	Issue price	Price of Bond will be fixed in Indian Rupees on the basis of simple average of closing price of gold of 999 purity, published by the India Bullion and Jewellers Association Limited for the last 3 working days of the week preceding the subscription period. The issue price of the Gold Bonds will be ` 50 per gram less for those who subscribe online and pay through digital mode.
10	Payment option	Payment for the Bonds will be through cash payment (upto a maximum of `20,000) or demand draft or cheque or electronic banking.
11	Issuance form	The Gold Bonds will be issued as Government of India Stock under GS Act, 2006. The investors will be issued a Holding Certificate for the same. The Bonds are eligible for conversion into demat form.
12	Redemption price	The redemption price will be in Indian Rupees based on simple average of closing price of gold of 999 purity, of previous 3 working days published by IBJA Ltd.
13	Sales channel	Bonds will be sold through Commercial banks, Stock Holding Corporation of India Limited (SHCIL), designated post offices (as may be notified) and recognised stock exchanges viz., National Stock Exchange of India Limited and Bombay Stock Exchange, either directly or through agents.
14	Interest rate	The investors will be compensated at a fixed rate of 2.50 percent per annum payable semi-annually on the nominal value.
15	Collateral	Bonds can be used as collateral for loans. The loan-to-value (LTV) ratio is to be set equal to ordinary gold loan mandated by the Reserve Bank from time to time.
16	KYC documentation	Know-your-customer (KYC) norms will be the same as that for purchase of physical gold. KYC documents such as Voter ID, Aadhaar card/PAN or TAN /Passport will be required. Every application must be accompanied by the ‘PAN Number’ issued by the Income Tax Department to individuals and other entities.
17	Tax treatment	The interest on Gold Bonds shall be taxable as per the provision of Income Tax Act, 1961 (43 of 1961). The capital gains tax arising on redemption of SGB to an individual has been exempted. The indexation benefits will be provided to long term capital gains arising to any person on transfer of bond.
18	Tradability	Bonds will be tradable on stock exchanges within a fortnight of the issuance on a date as notified by the RBI.
19	SLR eligibility	Bonds acquired by the banks through the process of invoking lien/hypothecation/pledge alone, shall be counted towards Statutory Liquidity Ratio.
20	Commission	Commission for distribution of the bond shall be paid at the rate of 1% of the total subscription received by the receiving offices and receiving offices shall share at least 50% of the commission so received with the agents or sub agents for the business procured through them.

2019

29-Nov-2019: Sovereign Gold Bond Scheme 2019-20 (Series VII) – Issue Price

In terms of the Government of India Notification No. F. No. 4(7)-B(W&M)/2019 dated September 30, 2019, Sovereign Gold Bonds 2019-20 (Series VII) will be opened for the period December 02-06, 2019. The issue price of the Bond during this subscription period shall be Rs 3,795 (Rupees Three Thousand Seven Hundred Ninety Five only) – per gram with Settlement date December 10, 2019, as also published by RBI in their Press Release dated November 29, 2019.

The Government of India in consultation with the Reserve Bank of India has decided to allow discount of Rs 50 (Rupees Fifty only) per gram from the issue price to those investors who apply online and the payment is made through digital mode. For such investors the issue price of Gold Bond will be Rs 3,745 (Rupees Three Thousand Seven Hundred Forty Five only) per gram of gold.

30-Sep-2019: Sovereign Gold Bond Scheme 2019 -20

Government of India, in consultation with the Reserve Bank of India, has decided to issue Sovereign Gold Bonds. The Sovereign Gold Bonds will be issued in six tranches from October 2019 to March 2020 as per the calendar specified below:

S. No.	Tranche	Date of Subscription	Date of Issuance
1	2019-20 Series V	October 07-11, 2019	October 15, 2019
2	2019-20 Series VI	October 21-25, 2019	October 30, 2019
3	2019-20 Series VII	December 02–06, 2019	December 10, 2019
4	2019-20 Series VIII	January 13-17, 2020	January 21, 2020
5	2019-20 Series IX	February 03-07, 2020	February 11, 2020
6	2019-20 Series X	March 02-06, 2020	March 11, 2020

The Bonds will be sold through Scheduled Commercial banks (except Small Finance Banks and Payment Banks), Stock Holding Corporation of India Limited (SHCIL), designated post offices, and recognised stock exchanges viz., National Stock Exchange of India Limited and Bombay Stock Exchange Limited.

The features of the Bond are:

Sl. No.	Item	Details
1	Product name	Sovereign Gold Bond 2019-20
2	Issuance	To be issued by Reserve Bank India on behalf of the Government of India.
3	Eligibility	The Bonds will be restricted for sale to resident individuals, HUFs, Trusts, Universities and Charitable Institutions.
4	Denomination	The Bonds will be denominated in multiples of gram(s) of gold with a basic unit of 1 gram.
5	Tenor	The tenor of the Bond will be for a period of 8 years with exit option after5thyear to be exercised on the interest payment dates.
6	Minimum size	Minimum permissible investment will be 1 gram of gold.
7	Maximum limit	The maximum limit of subscribed shall be 4 KG for individual, 4 Kg for HUF and 20 Kg for trusts and similar entities per fiscal (April-March) notified by the Government from time to time. A self-declaration to this effect will be obtained. The annual ceiling will include bonds subscribed under different tranches during initial issuance by Government and those purchased from the Secondary Market.
8	Joint holder	In case of joint holding, the investment limit of 4 KG will be applied to the first applicant only.
9	Issue price	Price of Bond will be fixed in Indian Rupees on the basis of simple average of closing price of gold of 999 purity, published by the India Bullion and Jewellers Association Limited for the last 3 working days of the week preceding the subscription period. The issue price of the Gold Bonds will be Rs.50 per gram less for those who subscribe online and pay through digital mode.
10	Payment option	Payment for the Bonds will be through cash payment (upto a maximum of Rs. 20,000) or demand draft or cheque or electronic banking.
11	Issuance form	The Gold Bonds will be issued as Government of India Stock under GS Act, 2006. The investors will be issued a Holding Certificate for the same. The Bonds are eligible for conversion into demat form.
12	Redemption price	The redemption price will be in Indian Rupees based on previous 3 working days simple average of closing price of gold of 999 purity published by IBJA.
13	Sales channel	Bonds will be sold through Commercial banks, Stock Holding Corporation of India Limited (SHCIL), designated post offices (as may be notified) and recognised stock exchanges viz., National Stock Exchange of India Limited and Bombay Stock Exchange, either directly or through agents.
14	Interest rate	The investors will be compensated at a fixed rate of 2.50 percent per annum payable semi-annually on the nominal value.
15	Collateral	Bonds can be used as collateral for loans. The loan-to-value (LTV) ratio is to be set equal to ordinary gold loan mandated by the Reserve Bank from time to time.
16	KYC documentation	Know-your-customer (KYC) norms will be the same as that for purchase of physical gold. KYC documents such as Voter ID, Aadhaar card/PAN or TAN /Passport will be required. Every application must be accompanied by the ‘PAN Number’ issued by the Income Tax Department to individuals and other entities.
17	Tax treatment	The interest on Gold Bonds shall be taxable as per the provision of Income Tax Act, 1961 (43 of 1961). The capital gains tax arising on redemption of SGB to an individual has been exempted. The indexation benefits will be provided to long term capital gains arising to any person on transfer of bond.
18	Tradability	Bonds will be tradable on stock exchanges within a fortnight of the issuance on a date as notified by the RBI.
19	SLR eligibility	Bonds acquired by the banks through the process of invoking lien/hypothecation/pledge alone, shall be counted towards Statutory Liquidity Ratio.
20	Commission	Commission for distribution of the bond shall be paid at the rate of 1% of the total subscription received by the receiving offices and receiving offices shall share at least 50% of the commission so received with the agents or sub agents for the business procured through them.

2018

13-Apr-2018: Sovereign Gold Bond scheme 2018-19

The government of India has announced that the first tranche of Sovereign Gold Bond scheme for the current year 2018-19 will open for subscription from April 16 to April 20. While Sovereign Gold Bond 2018-19 Series 1 price has been not announced yet, the Finance Ministry said that it will be fixed in Indian Rupees on the basis of simple average of closing price of gold of 999 purity published by the India Bullion and Jewellers Association Limited (IBJA) for the “last three working days of the week preceding the subscription period”.

The Bonds will be sold through banks, Stock Holding Corporation of India Limited (SHCIL), designated post offices and recognised stock exchanges — National Stock Exchange of India and Bombay Stock Exchange of India.

The Sovereign Gold Bonds will be restricted for sale to resident Indian entities including individuals, HUFs, Trusts, Universities and Charitable Institutions. The tenure of the bond will be for a period of eight years with an exit option in 5th, 6th and 7th year.

The minimum investment limit 1 gram of gold, while the maximum limit is 4 kgs for individuals and HUF and 20 kgs for trusts. For those who will subscribe the Gold Bonds online will get a benefit of Rs 50 per gram. Payment for the Bonds will be accepted through cash payment (up to a maximum of Rs 20,000) or demand draft or cheque or electronic banking.

2017

6-Oct-2017: Sovereign Gold Bond Scheme 2017 -18– Series-III

Government of India, in consultation with the Reserve Bank of India, has decided to issue Sovereign Gold Bonds 2017-18 – Series-III. Applications for the bond will be accepted from October 09, 2017 to December 27, 2017. The Bonds will be issued on the succeeding Monday after each subscription period. The Bonds will be sold through banks, Stock Holding Corporation of India Limited (SHCIL), designated post offices and recognised stock exchanges viz., National Stock Exchange of India Limited and Bombay Stock Exchange.

31-Jul-2017: Changes in Sovereign Gold Bond Scheme limits

The Government announced a few changes in its Sovereign Gold Bond (SGB) Scheme recently. The primary change was the increase in the limit to 4 kg (from 0.5kg) for individuals, HUF and 20 kg for Trusts.

This was probably done to encourage high net-worth individuals, rich farmers as well as trusts to invest in these bonds. The basic premise is that most Indians believe in gold as a time-tested and safe asset class and prefer it over other forms of investment. The Government also introduced flexibility in the scheme to design and introduce variants to cater to a cross-section of investors.

20-Apr-2017: Government of India to issue Sovereign Gold Bonds 2017-18 – Series I

Government of India, in consultation with the Reserve Bank of India, has decided to issue Sovereign Gold Bonds 2017-18 – Series I. Applications for the bond will be accepted from April 24, 2017 to April 28, 2017. The Bonds will be issued on May 12, 2017.

The Bonds will be sold through banks, Stock Holding Corporation of India Limited (SHCIL), designated post offices and recognised stock exchanges viz., National Stock Exchange of India Limited and Bombay Stock Exchange.

The features of the Bond are given below:

Sl. No.	Item	Details
1	Product name	Sovereign Gold Bond 2017-18 – Series I
2	Issuance	To be issued by Reserve Bank India on behalf of the Government of India.
3	Eligibility	The Bonds will be restricted for sale to resident Indian entities including individuals, HUFs, Trusts, Universities and Charitable Institutions.
4	Denomination	The Bonds will be denominated in multiples of gram(s) of gold with a basic unit of 1 gram.
5	Tenor	The tenor of the Bond will be for a period of 8 years with exit option from 5th year to be exercised on the interest payment dates.
6	Minimum size	Minimum permissible investment will be 1 gram of gold.
7	Maximum limit	The maximum amount subscribed by an entity will not be more than 500 grams per person per fiscal year (April-March). A self-declaration to this effect will be obtained.
8	Joint holder	In case of joint holding, the investment limit of 500 grams will be applied to the first applicant only.
9	Issue price	Price of Bond will be fixed in Indian Rupees on the basis of simple average of closing price of gold of 999 purity published by the India Bullion and Jewellers Association Limited for the week (Monday to Friday) preceding the subscription period. The issue price of the Gold Bonds will be Rs. 50 per gram less than the nominal value.
10	Payment option	Payment for the Bonds will be through cash payment (upto a maximum of Rs. 20,000) or demand draft or cheque or electronic banking.
11	Issuance form	The Gold Bonds will be issued as Government of India Stocks under GS Act, 2006. The investors will be issued a Holding Certificate for the same. The Bonds are eligible for conversion into demat form.
12	Redemption price	The redemption price will be in Indian Rupees based on previous week’s (Monday-Friday) simple average of closing price of gold of 999 purity published by IBJA.
13	Sales channel	Bonds will be sold through banks, Stock Holding Corporation of India Limited (SHCIL), designated post offices as may be notified and recognised stock exchanges viz., National Stock Exchange of India Limited and Bombay Stock Exchange, either directly or through agents.
14	Interest rate	The investors will be compensated at a fixed rate of 2.50 per cent per annum payable semi-annually on the nominal value.
15	Collateral	Bonds can be used as collateral for loans. The loan-to-value (LTV) ratio is to be set equal to ordinary gold loan mandated by the Reserve Bank from time to time.
16	KYC Documentation	Know-your-customer (KYC) norms will be the same as that for purchase of physical gold. KYC documents such as Voter ID, Aadhaar card/PAN or TAN /Passport will be required.
17	Tax treatment	The interest on Gold Bonds shall be taxable as per the provision of Income Tax Act, 1961 (43 of 1961). The capital gains tax arising on redemption of SGB to an individual has been exempted. The indexation benefits will be provided to long term capital gains arising to any person on transfer of bond
18	Tradability	Bonds will be tradable on stock exchanges within a fortnight of the issuance on a date as notified by the RBI.
19	SLR eligibility	The Bonds will be eligible for Statutory Liquidity Ratio purposes.
20	Commission	Commission for distribution of the bond shall be paid at the rate of 1% of the total subscription received by the receiving offices and receiving offices shall share at least 50% of the commission so received with the agents or sub agents for the business procured through them.

23-Feb-2017: Government to issue Sovereign Gold Bonds 2016 -17 – Series IV.

Government of India, in consultation with the Reserve Bank of India(RBI), has decided to issue Sovereign Gold Bonds 2016-17–Series IV. Applications for the bond will be accepted from February 27, 2017 to March 03, 2017. The Bonds will be issued on March 17, 2017. The Bonds will be sold through banks, Stock Holding Corporation of India Limited (SHCIL), designated post offices and recognised stock exchanges viz., National Stock Exchange of India Limited and Bombay Stock Exchange.

The features of the Bond are

Issuance	To be issued by Reserve Bank India on behalf of the Government of India.
Eligibility	The Bonds will be restricted for sale to resident Indian entities including individuals, HUFs, Trusts, Universities and Charitable Institutions.
Denomination	The Bonds will be denominated in multiples of gram(s) of gold with a basic unit of 1 gram.
Tenor	The tenor of the Bond will be for a period of 8 years with exit option from 5th year to be exercised on the interest payment dates.
Minimum size	Minimum permissible investment will be 1 grams of gold.
Maximum limit	The maximum amount subscribed by an entity will not be more than 500 grams per person per fiscal year (April-March). A self-declaration to this effect will be obtained.
Joint holder	In case of joint holding, the investment limit of 500 grams will be applied to the first applicant only.
Issue price	Price of Bond will be fixed in Indian Rupees on the basis of simple average of closing price of gold of 999 purity published by the India Bullion and Jewellers Association Limited for the week (Monday to Friday) preceding the subscription period. The issue price of the Gold Bonds will be ` 50 per gram less than the nominal value.
Payment option	Payment for the Bonds will be through cash payment (up to a maximum of Rs. 20,000) or demand draft or cheque or electronic banking.
Issuance form	The Gold Bonds will be issued as Government of India Stocks under GS Act, 2006. The investors will be issued a Holding Certificate for the same. The Bonds are eligible for conversion into demat form.
Redemption price	The redemption price will be in Indian Rupees based on previous week’s (Monday-Friday) simple average of closing price of gold of 999 purity published by IBJA.
Sales channel	Bonds will be sold through banks, Stock Holding Corporation of India Limited (SHCIL), designated post offices as may be notified and recognised stock exchanges viz., National Stock Exchange of India Limited and Bombay Stock Exchange, either directly or through agents.
Interest rate	The investors will be compensated at a fixed rate of 2.50 per cent per annum payable semi-annually on the nominal value.
Collateral	Bonds can be used as collateral for loans. The loan-to-value (LTV) ratio is to be set equal to ordinary gold loan mandated by the Reserve Bank from time to time.
KYC Documentation	Know-your-customer (KYC) norms will be the same as that for purchase of physical gold. KYC documents such as Voter ID, Aadhaar card/PAN or TAN /Passport will be required.
Tax treatment	The interest on Gold Bonds shall be taxable as per the provision of Income Tax Act, 1961 (43 of 1961). The capital gains tax arising on redemption of SGB to an individual has been exempted. The indexation benefits will be provided to long term capital gains arising to any person on transfer of bond
Tradability	Bonds will be tradable on stock exchanges within a fortnight of the issuance on a date as notified by the RBI.
SLR eligibility	The Bonds will be eligible for Statutory Liquidity Ratio purposes.
Commission	Commission for distribution of the bond shall be paid at the rate of 1% of the total subscription received by the receiving offices and receiving offices shall share at least 50% of the commission so received with the agents or sub agents for the business procured through them.