Port Blair, Nov 13: Sovereign Gold Bond to be issued by Reserve Bank of India on behalf of Government of India are available through Port Blair Head Post Office and all Head Post Offices in the country. The bonds will be Initially available for sale till Nov 20, 2015 and price for the period has been fixed as Rs 2684/- per gram of gold. Bonds will be issued on 26.11.2015. Bond denomination in multiples of 01 gram unit.
Minimum requirement 02 grams and maximum 500 grams/person/fiscal year. Payment either in cash, Demand Draft, Cheque (after realization). Issue price fixed by RBI would be available on eKuber Portal. The Tenure of the Bond – 08 years with exit option at 5th, 6th and 7th year. Investors will be compensated at fixed rate of 2.75% per annum payable half yearly on initial value of the Investment. Available in both Demat and paper form. Nomination facility available. Sovereign Gold Bond may be used as collateral security for any loan. Redemption price on the basis of previous weeks, simple coverage closing price for gold of 999 purity published by IBJA. Interest on the Sovereign Gold Bond shall be taxable under the Income tax act. For Further information can be obtained from Port Blair Head Post Office.
