Sovereign Gold Bond: Today is the last day! Scheme giving interest benefit with cheap investment in gold will be closed today

The Sovereign Gold Bond scheme in the name of Sovereign Gold Bond is being fulfilled today by the Central Government by guaranteeing 24 carat purity. Cheap gold is being sold under this scheme. Gold is being sold by RBI on behalf of Government of India. Gold is sold within the period announced by the government. […]
 


Sovereign Gold Bond: Today is the last day!  Scheme giving interest benefit with cheap investment in gold will be closed today

The Sovereign Gold Bond scheme in the name of Sovereign Gold Bond is being fulfilled today by the Central Government by guaranteeing 24 carat purity. Cheap gold is being sold under this scheme. Gold is being sold by RBI on behalf of Government of India. Gold is sold within the period announced by the government. This gold is sold with the assurance of purity. Sovereign gold is offered as a brand instead of simple physical gold. In this scheme, 24 carat gold is guaranteed. The issue price of SGB is determined on the basis of the average closing price of 24 Carat Gold during the last 3 trading sessions. The current issue price is Rs 5091 per gram. The Reserve Bank said in a statement that the Gold Bond Series-1 is open for subscription till June 24.

What are the advantages of SGB?

Sovereign Gold Bonds pay interest at the rate of 2.50% every half year. Income from interest on bonds is taxable under the Income Tax Act. Both the documents and the demat format of this bond have been made available. Can be traded in the secondary market. The Finance Minister said that individual investors have been exempted from capital gains tax on capital earned on redemption of SGBs. Meanwhile, RBI’s SGB scheme is open for subscription. Any investor can invest.

Benefits of Investing in SGB

  • Guaranteed Returns: Sovereign Gold Bond offers an interest rate of 2.5% per annum to the investors. This interest will be paid on half-yearly basis.
  • Exemption from Capital Gains Tax: There will be no capital gains tax on redemption.
  • Loan Facility: Loan Can also be used as collateral for.
  • No storage problem: Safe from storage issues like physical gold.
  • Liquidity: Can be traded on the exchange.
  • Exemption from GST and making charges: Unlike physical gold. There is no GST and making charge.

Up To Rs.50 Per Gram Off On Online Purchase

The government in consultation with RBI has offered a discount of Rs 50 per gram to customers applying online and making digital payments. One can choose to pay by demand draft or check or by electronic banking.

where to buy

Gold bonds can be purchased directly or through agents of commercial banks, Stock Holding Corporation of India Limited, Clearing Corporation of India Limited, certain post offices, recognized stock exchanges, National Stock Exchange of India Limited and Bombay Stock Exchange Limited. The Gold Bond will be offered at a fixed interest rate of 2.50 per cent. Gold bonds can be used as collateral to obtain loans.