Sovereign Gold Bonds: In India, gold isn’t just limited to jewelry; it’s also considered an excellent safe investment. If you’re interested in investing in gold, the Reserve Bank of India has brought you a unique opportunity. Series IV of the Sovereign Gold Bond (SGB) Scheme 2023-24 begins on February 12th, and you can invest until February 16th. This means you have a golden opportunity for five days.
What is the Sovereign Gold Bond Scheme
Launched in November 2015 and issued by the Reserve Bank of India, you can start investing with a minimum of 1 gram of gold. It offers the assurance of investing in 24-carat (99.9% pure) gold. Significantly, if you invest online, you receive an additional discount of ₹50 per gram.
Sovereign Gold Bonds: How much can you invest
Under this scheme, an individual can purchase a minimum of 1 gram and a maximum of 4 kilograms of gold in a financial year. Institutions and trusts can invest in gold up to a maximum of 20 kilograms.
Where to Buy Gold Bonds
If you want to be a part of this scheme, you can purchase it from recognized stock exchanges like NSE and BSE, post offices, commercial banks, and the Stock Holding Corporation of India Limited (SHCIL).
Interest and Tenure Benefits
Investing in the SGB scheme provides you with a 2.50% annual interest benefit from the government, which is transferred to your account every six months. Its tenure is eight years, but you also have the option to exit after five years.
Sovereign Gold Bonds: How the Price is Determined
The RBI determines the price of gold bonds based on the average price of gold over the last three working days, as published by the Indian Bullion and Jewellers Association (IBJA).
If you are looking for a safe and reliable investment, the Sovereign Gold Bond Scheme could be the right choice for you. This not only benefits the gold’s value, but also provides additional interest.
Disclaimer: This article is for general information purposes only. Please consult your financial advisor before making any investment.
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