Sovereign Gold Bond: Today is the last chance to invest in Sovereign Gold Bond Scheme.
Bumper opportunity to buy gold
In the second wave of Corona, gold is once again becoming expensive. The price of 10 grams of gold has crossed Rs 48,000. If you are thinking of buying cheap gold then this is your last chance. Today is the last chance to invest in Sovereign Gold Bond Scheme. The scheme was open for investment on 17 May. The scheme was open for investment on 17 May and will close on 21 May.
Sovereign gold bonds will be issued in six installments between May and September this financial year. After this, subscription will open for the second series from 24 May to 28 May. Subscribers in this period will be issued gold bonds on 1 June. After this, the subscription of the third series will open from 31 May to 4 June, Touthi series from 12 July to 16 July. The issue date for the third series is June 8, while the bond issue date for the fourth series is July 20.
After this, the fifth series will be open from August 9 to August 13 and the sixth series from August 30 to September 3. On August 17, where there will be a gold bond issue of the fifth series, there will be a gold bond issue of the sixth series on September 7.
Will get a discount
Those paying online or digital to buy sovereign gold bonds will get a discount of Rs 50 per gram in the bond price. That is, you will get a discount of 500 rupees on the purchase of 10 grams of gold. The price of gold bond will be at the normal average price of the price issued by the India Bullion and Jewelers Association Limited. This price will be the average price of gold of 99.9 purity during the last three business days of the week before the investment period.
Where to buy
The bonds will be sold through the Stock Holding Corporation of India Limited, designated post offices and recognized stock exchanges, the National Stock Exchange of India Limited and the Bombay Stock Exchange Limited. Small finance banks and payment banks will not be allowed to sell bonds. These bonds will be issued by the RBI on behalf of the Government of India.
How much can we invest in minimum
The bond will have a duration of 8 years, in which there will also be an option to withdraw from the bond on the next interest payment date after five years. Investment in gold bonds can be done as per the basic unit of one gram. At least one gram of gold will have to be invested.
According to the statement, any person and a Hindu undivided family can buy bonds up to a maximum of 4 kg, while the maximum purchase limit for trusts and similar entities is 20 kg.
Know your customer to buy bonds (KYC) norms will be the same as buying gold from the market. The government’s sovereign gold bond scheme started in November 2015.
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