Opportunity to invest in Sovereign Gold Bond is coming next week
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What is Sovereign Gold Bond Scheme?
The Sovereign Gold Bond Scheme has been launched by the Central Government under the Gold Monetization Scheme to give benefits to people investing in gold. Under this scheme, people can get more benefits by investing their money in gold. The installment of the Sovereign Gold Bond Scheme is open from time to time for a fixed period. Under this scheme, the issue is opened for subscription in phases by the RBI in consultation with the Government of India. RBI notifies the terms and conditions of the scheme from time to time.
Linked to the price of gold
The price of SGB is linked to the price of gold of 999 purity. Discount is also available for applying online for Gold Bond and making online payment.
Get 2.50% interest
Sovereign Gold Bond also has an advantage that it has a fixed interest rate of 2.50 per cent per annum on the initial investment amount. This interest is credited to the bank account of the investor on a half yearly basis. This interest is taxable under the Income Tax Act, 1961.
how much can buy gold
As per RBI instructions, the maximum limit for trusts and universities is 20 kg. Whereas, for Individuals and HUF, this limit is 4 kg. Individuals and Hindu Undivided Families, trusts, universities and charitable institutions resident in India can invest in the Sovereign Gold Bond Scheme.
When does it mature
The maturity period of Sovereign Gold Bond is 8 years. Also, you get an exit option after the 5th year on the next interest payment dates. The returns received by the customer after completion of the maturity period are completely tax free.
Where to Buy Gold Bonds
Sovereign Gold Bonds can be bought through banks (except small finance banks and payments banks), Stock Holding Corporation of India Limited (SHCIL), designated post offices and recognized stock exchanges such as National Stock Exchange of India Limited and BSE.
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