BusinessWire India
Pune (Maharashtra) [India], June 19: Bajaj Markets, a subsidiary of Bajaj Finserv, is one of India's leading fintech startups, offering a wide range of financial products including Sovereign Gold Bonds.
Sovereign Gold Bonds, or SGBs are securities issued by the Reserve Bank of India (RBI) at the behest of the Government of India.
The first issue for 2023-24 Series I is now available for subscription from June 19 to June 23, 2023, on Bajaj Markets. Investors can subscribe to SGBs in several denominations characterised by weight, starting as low as one gram. They will also receive a Holding Certificate as proof of investment. The price per gram for the current tranche is fixed at Rs. 5,926 for offline transaction and Rs. 5,876 for online transaction.
SGBs come with a maturity period of eight years, with the option for premature redemption after the fifth year. Investors will receive an assured interest of 2.50% per annum as mandated by RBI, payable semi-annually.
Key Features
- Issued by the Reserve Bank of India
- Assured interest of 2.50% per annum
- Discount of Rs. 50/gram on online investment
- Avail tax benefits
Investors can subscribe to SGBs on Bajaj Markets from June 19, 2023. The subscription is entirely online, allowing investors to subscribe from anywhere.
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