SGB Scheme: Great opportunity to buy government gold! You can invest in December and February, know details
[ad_1]
Sovereign Gold Bond Scheme: If you are planning to add Gold to your investment profile, then the Central Government is bringing a great opportunity for you. The Finance Ministry has clarified in a notification that the third and fourth installments of the Sovereign Gold Bond Scheme 2023-24 are going to be released in December and February. You can invest in its third installment from 18th December to 22nd December 2023. Whereas, in the fourth series of the scheme, the investment process will be started between February 12 and February 16, 2024. However, information about its issue price has not been given by the government. The issue price will be decided according to the average gold price of the last three days of IBJA. Let us tell you that the issue price for the second phase of investment in September has been fixed at Rs 5,923 per gram. The issue was opened between 11 and 15 September. Whereas, the first series was opened between 19-23 June. The maturity period of the gold bond will be eight years but there will be an option to exit after completion of five years. Under this scheme, minimum investment can be made in one gram of gold while the maximum limit is up to four kilograms.
Bond came first in 2015
India’s apex bank has said in its statement that the sale of gold bonds was first started in November 2015 as a part of reducing the demand for traditional gold and domestic savings. This bond is denominated in multiples of the basic unit of one gram. The maturity period of the gold bond will be eight years but there will be an option to exit after completion of five years. Under this scheme, minimum investment can be made in one gram of gold while the maximum limit is up to four kilograms. A discount of Rs 50 is also given by the Central Government to promote online purchasing.
Where can you buy from?
You can buy the gold being sold by the Reserve Bank through Stock Holding Corporation of India Limited (SHCIL), Post Office and recognized stock exchanges, NSE and BSE. Apart from this, if you want, you can invest in it through your demat account. Any Indian resident, Hindu Undivided Family (HUF), trusts, universities and charitable institutions can invest in it. Some checks have been imposed by the bank on its purchases. For example, a person is allowed to buy a maximum of 4 kg of gold in a year. At the same time, trusts and institutions can buy 20 kg of gold in a year.
What is Reserve Bank of India Sovereign Gold Bond
Sovereign Gold Bonds issued by the Reserve Bank of India are a special type of financial security issued for the purpose of mobilizing financial resources for the Government of India. This bond has a fixed tenure and a fixed interest rate, which means that investors are given income in the form of interest at regular intervals and the principal amount is returned on time. Reserve Bank of India Sovereign Gold Bonds provide a useful financial source for the Indian Government and provide a stable and safe investment opportunity for them. It provides financial security to investors like gold, which means that they provide capital to the government and can earn interest by investing against it. Government Sovereign Gold Bonds help finance the economic plans and projects of the Indian government and help meet various financial goals. Please note that the disputed and primary details of the Sovereign Gold Bond may change over time, so you may need to check the details and get the most up-to-date information.
[ad_2]
Source link
