Sovereign Gold Bond Scheme: Opportunity to buy gold cheaply; Sovereign Gold Bonds go on sale today Sovereign Gold Bond Scheme 22 series subscription get open from today
Gold | The RBI has fixed the issue price at Rs 4,807 per gram for the series. If you invest in Sovereign Gold Bonds online, you will get a discount of Rs 50 per gram of gold.
Sovereign Gold Bond
Mumbai: Subscriptions to the Sovereign Gold Bond Scheme will be open to customers from Monday. These bonds are considered to be the safest option for investing in gold. Even one gram can be invested in these bonds. Sovereign gold bonds are considered a relatively safer option than actually taking the risk of keeping gold in a home safe or bank locker. (Sovereign Gold Bond Scheme 22 series subscription will oepn between 12 to 16 July)
The RBI has fixed the issue price at Rs 4,807 per gram for the series. If you invest in Sovereign Gold Bonds online, you will get a discount of Rs 50 per gram of gold. Gold Bond is priced at Rs 4757 per gram for customers who shop online. At present, the price of gold and silver is beyond the reach of the common man. Therefore, when the name of gold is taken out, it accumulates in the stomach of many. However, now there is an opportunity to buy gold cheaply through a government scheme.
Earlier, the Sovereign Gold Bond Scheme subscription was open from May 31 to June 4. At that time, gold was trading at Rs 4,889 per gram. Investors will get 2.5 per cent interest per annum on these gold bonds. The term of Sovereign Gold Bond Scheme is eight years. However, you can opt out of this plan after five years. You can invest even one gram of gold in it. Also loans are given on these bonds.
Opportunity to invest in the plan from time to time
The government issues a series of sovereign gold bonds from time to time to increase investment and transparency in gold. Under this, investors get gold at a price lower than the market price. It also guarantees full security from the government. The criteria for KYC for customers to buy this bond will be the same as for buying gold from the market. The government’s Sovereign Gold Bond scheme was launched in November 2015.
Who can invest?
Citizens living in India, Hindu undivided families, trustees, universities and charitable organizations can invest in the Gold Bond scheme. At least one gram can be invested in this bond. An individual or a Hindu Undivided Family can invest up to four kg under this scheme in a financial year. Institutions like trusts can invest up to 20 kg in a financial year. The Sovereign Gold Bond scheme has a term of eight years. The scheme was launched in November 2015.
(Sovereign Gold Bond Scheme 22 series subscription will open between 12 to 16 July)
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