Andhra Bank announced the opening of Sovereign Gold Bond (SGB) Scheme Tranche-II sponsored by Government of India for public subscription from today for a period of only five days at all its 2,755 branches across the country. Reserve Bank has notified 2.75 per cent rate of interest per annum and a rate of `2,600 per gm for subscriptions under SGB Tranche-II.

“The scheme provides adequate protection against the price fluctuation in gold during the period of investment. All are requested to avail the benefits of the scheme and approach any of our branches for subscriptions of the Bonds,” the bank said in statement.