Sunday, May 28th, 2023

Last chance to buy cheap gold today, Rs 50 per gram discount on digital payment

Photo: File Sleep

near you Today is the last chance to buy cheap gold. Actually, the Modi government is selling 100% pure gold cheaper than the market under the Sovereign Gold Bond Scheme (SGB). Let us tell you that this bond was open for subscription on March 6, 2023 and is closing today i.e. on March 10. Sovereign Gold Bonds are being sold under the fourth series for the financial year 2022-23. The issue price for this gold bond has been fixed at Rs 5,611 per gram. Investors applying online will get a rebate of Rs 50 per gram. However, for this, payment will have to be done through digital means. This means that the issue price of the gold bond will be Rs 5,561 per gram for investors making online payments.

Annual interest is also available on SGV

SGB ​​has rapidly emerged as an alternative to holding physical gold. In this, investors also get interest at the rate of 2.5 percent. Let us tell you that the central bank actually issues bonds on behalf of the Government of India. These can be sold only to resident individuals, Hindu Undivided Families (HUFs), trusts, universities and charitable institutions. SGBs have a tenure of eight years but can be redeemed prematurely after the 5th year.

RBI issues this bond

This gold bond is issued by the Reserve Bank on behalf of the Government of India. The price of the gold bond is fixed at the simple average of the price issued by the India Bullion and Jewelers Association Limited. This price will be the average price of gold of 999 purity during the last three business days of the week preceding the investment period. Investment in gold bonds can be made according to the basic unit of one gram. Investment has to be made for at least one gram of gold. Individuals and Hindu Undivided Families can purchase bonds up to a maximum value of four kilograms, while the maximum purchase limit for trusts and similar entities is 20 kilograms. The Know Your Customer (KYC) norms for buying the bonds will be similar to those for buying gold from the market. The government’s Sovereign Gold Bond scheme was launched in November 2015.

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