The Reserve Bank of India has announced the opening of the Sovereign Gold Bond Scheme 2016-17 Series III on October 24, 2016.
The Sovereign Gold Bond parameters are as under :
| Issue Price (per Gram) | 2957.00 |
| Issue Start Date | Oct 24, 2016 |
| Issue Close Date | Nov 2, 2016 |
| Bidding Session Time | 10:00 AM to 05:00 PM |
| Minimum Bid Quantity | 1 (Gram) |
| Maximum Bid Quantity | The maximum quantity subscribed by an entity will not be more than 500 grams per person per fiscal year (Apr-Mar). A self declaration to this effect will be obtained. |
| Interest | Fixed Interest @ 2.50% per annum payable semi-annually on the issue price amount |
| Tenure | 8 years with an exit option from 5th year onwards |
The applications will be accepted through the members of National Stock Exchange and Bombay Stock Exchange, Banks, designated Post Offices and Stock Holding Corporation of India (SHCIL).
