Andhra Bank will open its Sovereign Gold Bonds 2017-18 Series-II for public subscription from July 10 to 14 at all its branches across the country. The tenor of the bonds is 8 years, with a provision of premature cancellation after 5 years.
The bonds will be restricted for sale to resident Indian entities, including individuals, HUFs, Trusts, Universities and Charitable Institutions, which can apply for gold bonds (Minimum 1 gram and maximum 500 grams).
The issue price is fixed at Rs 50 less than the nominal price. The issue price of this tranche has been fixed at Rs 2,780 per gram of gold.
Andhra Bank offers a wide range of services such as Retail banking, Agriculture, MSME, Corporate, NRI services and Personal banking services etc.