Andhra Bank rolls out gold bond scheme

Hyderabad: Andhra Bank has opened its Sovereign Gold Bond (SGB) Scheme 2019-20 Series-IX notified by Government of India for public subscription at all of its branches spread over the country from February 3 to 7, 2020.

The issue price for the period is fixed at Rs 4,070 per gram with a discount of Rs 50 per gram if subscribed through digital mode.

The price for investors applying through digital mode will be Rs 4,020. Andhra Bank customers having internet banking facility can apply online through internet banking for SGB and avail the discount.

The bank said the bonds may be held by a person resident in India, being an individual or on behalf of minor child or jointly with any other individual. The bond may also be held by Trust, Hindu Undivided Families, Charitable Institution and University.