: The State Bank of Travancore (SBT) will accept applications for sovereign gold bonds 2016-17 Series-1 at all its branches.
The bond is a suitable alternative to purchasing metal gold. The issue will open on July 18.
The minimum investment amount is rupee equivalent of 1 gram of gold and the maximum is 500 gm.
Rate of interest
The rate of interest on the investment will be 2.75 per cent per annum on the initial value of investment. The period of the bond will be eight years with exit option available from the 5th year.
