Thanks to the government’s gift before Ganesh Chaturthi,the gold price has came down for Indian citizens
Gold Price : Buying gold is considered very important in India. Now people have the opportunity to buy gold at a low price. People can buy gold cheaply even before Ganesh Chaturthi. In such a situation, people will have to keep a few things in mind. Let us know about it…
Sovereign Gold Bonds: The festive season is underway in India. In such a situation, people do many types of shopping on festive occasions. At the same time, people mainly buy gold during the festival. Meanwhile, an important update has come out for gold buyers and people can avail it even before Ganesh Chaturthi. In fact, this year the festival of Ganesh Chaturthi will be celebrated on September 19, 2023. However, even before this, the government issued sovereign gold bonds to the people. Let us know about it…
The second tranche of the Sovereign Gold Bond (SGB 2023-24 Series II) will open for public subscription on Monday (September 11). This gold bond is issued by the RBI on behalf of the government and subscription can be taken till Friday (September 15). This time the issue price of these bonds is Rs 5,923 per gram. However, by paying online you will get a discount of Rs 50 per gram.
Pay online
Sovereign gold bonds are public securities denominated in grams of gold. Instead of buying physical gold, these gold bonds can also be taken as an investment and these bonds are much cheaper than the physical value of gold. While investors can get cash on maturity. The Finance Ministry said in a statement that the Government of India, in consultation with the Reserve Bank of India, has decided to offer a discount of Rs 50 per gram from the issue price to those investors who apply online and make the payment through digital mode. only.
Sovereign Gold Bond Key Features
- Only persons residing in India, Hindu Undivided Families (HUFs), trusts, universities and charities can purchase sovereign gold bonds.
- Bonds are denominated in multiples of grams of gold with a base unit of one gram.
- SGB has a holding period of eight years, in which the early redemption option can be exercised after the fifth year. Which is used on the date the interest is paid.
- An individual can purchase a minimum of 1 gram of gold in SGB, while the maximum limit is 4 kg for individuals, 4 kg for HUF and 20 kg for trusts and similar entities per financial year. In the case of co-owners, the investment limit of 4 kg will only apply to the first applicant.