Government will release the next installment of Sovereign Gold Bond in December and February. Loktej Business News
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New Delhi, 09 December (Hindustan Reporter). There is a golden opportunity to invest in gold. The central government will release one installment of the Sovereign Gold Bond (SGB) scheme in December, while another installment will be released in February.
In a notification issued by the Finance Ministry, the third and fourth installments of the Sovereign Gold Bond Scheme 2023-24 will be released in December and February. According to the ministry, you will be able to invest in the third installment between December 18 and December 22. Whereas, the fourth installment will be open for investment between February 12 and February 16, 2024.
The Ministry has currently announced the date of release of the third and fourth installment of SGB. The issue price of the third installment of the scheme will be decided later according to the average price of gold. The first installment of the Sovereign Gold Bond Scheme 2023-24 was opened between June 19-23 and the second installment was opened between September 11-15.
Under this scheme, a minimum of one gram of gold can be invested, while the maximum limit is up to four kilograms. At the same time, trusts and institutions can buy 20 kg of gold in a year. The bonds will be sold through banks, Stock Holding Corporation of India Limited, designated post offices and stock exchanges Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).
If you invest in Sovereign Gold Bond Scheme through online medium, you will get an additional discount of Rs 50 per gram in the issue price. Under this scheme, you can invest in gold for a total of eight years, but you also have the option to exit after five years.
It is noteworthy that Sovereign Gold Bond was started as a part of traditional gold demand and domestic savings. Sales of SGBs were first launched in November 2015. By investing in SGB you also get the benefit of 2.50 percent interest rate per year. This interest rate is paid on half yearly basis.
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