SGB: Government is giving chance to buy gold at discount, offer for only 5 days

SGB: Government is giving chance to buy gold at discount, offer for only 5 days

Highlights

  • You can buy gold with discount in government schemes for the next five days
  • Issue price fixed at Rs 4,791 per gram for the latest installment of Sovereign Gold Bonds
  • The government is giving investors a discount of Rs 50 per gram in the issue price.

Want to invest in gold today? So the government has once again brought a special opportunity for you. You can buy gold with a discount in the government scheme for the next five days. The government has introduced the eighth series of Sovereign Gold Bond Scheme (SGB) 2021-22 from Monday 29 November. This government gold scheme will be open for subscription for the next five days. The Reserve Bank of India (RBI) has fixed the issue price for the latest installment of Sovereign Gold Bonds at Rs 4,791 per gram.

Giving information related to this, RBI said that customers can buy sovereign gold bonds in various ways. The bonds will be sold through banks (except small finance banks and payment 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.

Government is giving discount

One advantage of investing money in this scheme of the government is that you can buy gold here with a discount. The government is giving investors a discount of Rs 50 per gram in the issue price. Customers who apply online and pay through digital means will get this discount. The issue price of the gold bond for such investors would be Rs 4,741 per gram of gold.

Rs 20000 limit for cash payment

The maximum amount an individual can pay while buying these bonds is up to Rs 20,000 for cash payment. One can choose to pay by demand draft or check or electronic banking. Gold bonds will have a tenure of eight years. With this, there will be an exit option after the fifth year, which can be exercised on the next interest payment date. Investors will get interest at a fixed rate of 2.50 per cent per annum, which will be paid twice a year.

Scheme was launched in 2015

The Sovereign Gold Bond Scheme was launched in November 2015. The objective was to reduce the demand for physical gold and to channelize the portion of household savings used for gold purchases into financial savings.

how much gold can you buy

In this, a person can invest at least one gram of gold, with this Hindu Undivided Families 4 kg and trusts and similar entities can invest 20 kg every financial year from April to March. The bond is issued by the Reserve Bank of India (RBI) on behalf of the Government of India.

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