This is a great opportunity for you if you are thinking of investing in gold. In fact, under the central government’s sovereign gold bond scheme, gold bonds can be purchased for cheap.
How much is allowed: This project of the government will be from 9 to 13 August 2021. During this purchase period, the price of a gold bond will be Rs 4,790 per gram. This means you can buy gold bonds at this price. The Government of India offers a discount of Rs 50 per gram to investors who apply online and pay via digital mode. For such investors, the value of a gold bond is Rs. 4,740 per gram.
What are the conditions: This price of a gold bond is cheaper than the physical gold market price. To join the scheme, it is mandatory to purchase at least one gram of bond. Maximum purchase limit is 4 kg. The bond’s maturity period is 8 years. However, there is an option to quit after the fifth year. Speaking of interest, it is 2.50 per cent per annum.
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How to Join: SBI and other government and private banks offer the opportunity to join the sovereign gold bond scheme online. If you use net banking or mobile banking, then you will see the scheme option. On the other hand, Stock Holding Corporation of India Ltd. Gold bonds can be purchased through SHCIL, select Post Offices and National Stock Exchange (NSE) and Bombay Stock Exchange (BSE).
