RBI announced that the Sovereign Gold Bond Scheme 2020-21 – Series XI will be open for subscription for the period from February 01, 2021 to February 05, 2021. The nominal value of the bond based on the simple average closing price [published by the India Bullion and Jewellers Association Ltd (IBJA)] for gold of 999 purity of the last three business days of the week preceding the subscription period, i.e. January 27 – 29, 2021 works out to ₹4,912/- (Rupees Four thousand nine hundred and twelve only) per gram of gold.
Further, Government of India, in consultation with the Reserve Bank of India, has decided to offer a discount of ₹50/- per gram less than the nominal value to those investors applying online and the payment against the application is made through digital mode. For such investors, the issue price of Gold Bond will be ₹4,862/- (Rupees Four thousand eight hundred and sixty two only) per gram of gold.
Further, The scheme offers benefits of 2.5% interest and exemption on capital gains tax on redemption. The government launched the sovereign gold bond scheme in November 2015. Minimum investment in the bonds is one gram with a maximum limit of subscription of 500 grams per person per fiscal year.