`Andhra Bank is glad to announce the opening of Sovereign Gold Bond Scheme 2018-19 – Series -I notified by Government of India for public subscription at all its branches spread over the country from 16 th April to 20 th April 2018 as per the press release.The issue price for the current week i.e. 16.04.18 to 20.04.18 is fixed at 3114/- 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. 3064/- Andhra Bank Customers having Internet banking facility can apply online through internet banking for SGB Bonds and avail the discount. The Bonds will be restricted for sale to resident Indian entities including individuals, HUFs, Trusts, Universities and Charitable Institutions who can apply for gold bonds. The Minimum subscription is 1 gram of gold and The maximum limit of subscribed shall be 4 KG for individual, 4 Kg for HUF and 20 Kg for trusts and similar entities per fiscal (April - March) notified by the Government from time to time.The tenor of the Bonds is 8 years with provision of premature cancellation after 5 years on the interest payment dates. RBI has notified a Rate of Interest of 2.50% per annum payable on half yearly basis.