Gold & Silver

Andhra Bank opens sale of sovereign gold bonds

Hyderabad | Updated on October 21, 2019

Andhra Bank has commenced sale of Sovereign Gold Bonds as part of the 2019-20 Series - VI scheme notified by the Government.

The issue price during the sale period of October 21-25, 2019, has been fixed at Rs 3,835 per gram, with a discount of Rs 50 per gram if subscribed in the digital mode. Hence, the price for investors applying through the digital mode will be Rs 3,785 per gram.

The minimum investment will be one gram with a maximum subscription limit in each fiscal year being 4kg per individual and HUF and 20 kg for trusts.

The bonds will be payable on expiry of eight years from the date of issue, with an interest rate of 2.50 per cent (fixed) per annum on the nominal value. Interest will be paid in half-yearly rests and the last interest will be paid along with principal on maturity, an official release said.

Published on October 21, 2019

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