If you want to buy gold sitting at home in lockdown, then Modi government has brought a special scheme for you. The government will issue Sovereign Gold Bond 2020-21 Series-II (Sovereign Gold Bond Scheme) from May 11. The issue price for the Sovereign Gold Bond instalment has been fixed at Rs 4,590 per gram.
The Sovereign Gold Bond Scheme will be open for Series-2 subscription of 2020-21 from 11 May 2020 to 15 May 2020. The issue price of the first series was Rs 4,639 per gram. RBI said last month that from April 20 to September, the government will issue sovereign gold bonds in six phases.
The Reserve Bank will issue this baud on behalf of the Government of India. The Government of India has decided to give a discount of 50 rupees per gram in the issue price to investors applying online and paying through the digital medium. The gold bond price for such investors will be Rs 4,540 per gram.
The Sovereign Gold Bond Scheme 2020-21-Series II of the Sovereign Gold Bond Scheme 2020-21 will be open for subscription from 11 May 2020 to 15 May 2020.
How much can you buy gold?
A person investing under the Sovereign Gold Bond Scheme can buy up to 500 grams of gold bonds in a financial year. At the same time, the minimum investment is one gram. Any person or HUF can buy a maximum gold bond of 4 kg in a financial year. Overall, the limit for buying bonds individually is 4 kg, while 20 kg has been fixed for the trust or organisation. The maturity period of this scheme is 8 years. But if you still want to sell bonds, you have to wait for at least 5 years. You can save tax by investing in this scheme. Under the scheme, an interest of 2.5 per cent will be earned on the investment.
Buy affordable gold from here
- Sovereign Gold Bond is sold through banks, Stock Holding Corporation of India Limited, selected post offices and NSE and BSE.
- You can go to any one of these places and join the bond scheme.
- Let us tell you that the price of this bond is fixed in rupees on the basis of the prices given by Bharat Bullion and Jewelers Association Ltd. for the last 3 days of 999 purity gold.
- Sovereign gold bond (SGB) issued by the government is one of the ways to own gold in paper form. By investing in SGB, one will not get physical gold but will participate in any growth (or a fall) in the price of gold.
- Investment in SGB is, therefore, purely for the purpose of investment and not for consumption needs.
What is the maturity period of sovereign gold bonds?
Maturity – This scheme has a maturity period of 8 years. Gift/transfer – Investors can choose to gift or transfer these bonds to others, provided they meet the necessary eligibility criteria. Premature withdrawal – Premature encashment of these bonds is allowed after 5 years of issue.
Sovereign Gold Bond offered by State Bank of India is the most profitable form of gold investment. The gold bond is issued tranches and so it is not available all year round. … Post offices and SBI are the main channels to sell the gold bonds as they both have the highest reach in India.