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Sovereign Gold Bond Features

Eligibility: The bonds will be restricted for sale to resident Indian entities including individuals, HUFs, Trusts, Universities and Charitable institutions. For online application through ICICI Bank, the bonds are for sale to only ‘individuals’ through the Internet Banking Channel and iMobile App. Customers falling into other category of investors may however approach the branch and fill-up the application form to apply for the tranche.

Denomination: The bonds will be denominated in units of one gram of gold and multiples thereof.

Minimum size: Minimum permissible investment will be 1 gram of gold.

Maximum limit: Maximum limit of subscription shall be of 4 kg for individuals, 4 kg for Hindu Undivided Family (HUF) and 20 kg for trusts and similar entities notified by the government from time to time

Interest rate: The investors will be paid Interest on the amount of initial investment at the rate notified by RBI for a particular tranche at the time of its launch and is payable semi-annually.

Tenor: The tenor of the bond will be for a period of 8 years with an exit option from 5th year onwards to be exercised on the interest payment dates.

Redemption: Redemption price shall be fixed in Indian Rupees and the redemption price shall be based on simple average of closing price of gold of 999 purity of previous 3 business days from the date of repayment, published by the India Bullion and Jewelers Association Limited.

*May change from issue to issue
 

Disclaimer: The content is sourced from the Reserve Bank of India website and is subject to the terms of use and other terms and guidelines, contained within the RBI website. The information contained herein is for general information purposes only and ICICI Bank makes no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability with respect to the content provided herein for any purpose. Any reliance you place on such information is therefore strictly at your own risk. Nothing contained herein shall constitute or be deemed to constitute an advice, to avail any products/services of ICICI Bank.