Great opportunity to invest in Sovereign Gold Bond, price Rs 6,199 per gram. Loktej Business News
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New Delhi, 18 December (Hindustan Reporter). The government is once again giving a great opportunity to invest in gold. The third tranche of Sovereign Gold Bond (SGB) opened for investment from Monday (today). There is an opportunity to invest in this till 22nd December. The bonds will be issued on December 28. This time the Reserve Bank of India (RBI) has fixed the issue price for SGB at Rs 6,199 per gram.
Sovereign Gold Bond is a government bond. This bond is of one gram gold. The price of this bond will be equal to one gram of gold. In Sovereign Gold Bond you invest in 24 carat i.e. 99.9 percent pure gold. It is issued by RBI. Investing in SGB gives an annual interest of 2.50 percent. If money is needed, a loan can also be taken against the bond.
Investors who apply online for this bond and make payment through digital means will get a discount of Rs 50 per gram from the face value. The maturity period of SGB is eight years. After completion of maturity, there is no tax on the profit arising from it. If you withdraw your money after five years, then the profit arising from it is taxed at 20.80 percent.
You can buy Sovereign Gold Bond through Scheduled Commercial Banks (except Small Finance Banks, Payment Banks and Regional Rural Banks), Stock Holding Corporation of India Limited (SHCIL), designated post offices and stock exchanges – National Stock Exchange India Limited (NSE) and Bombay Stock Exchange. Can buy through Exchange Limited (BSE).
The maximum limit for investment in this bond is 4 kg for individuals, 4 kg for HUF (Hindu Undivided Family) and 20 kg for trusts and similar institutions. After this, the fourth series of SGB will be released from 12-16 February. It is noteworthy that the Government of India launched Sovereign Gold Bond in November 2015. The objective of SGB is to reduce the demand for physical gold and promote savings.
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