Sovereign Gold Bonds Scheme 2022-23: There is a continuous jump in the price of gold in the country these days, but if you want to buy gold cheaper than the market price, then from today you are getting a golden opportunity. From today, the first series of Sovereign Gold Bond Scheme 2022-23 has opened for purchase and the Reserve Bank of India (RBI) is giving an opportunity to buy gold at a low price through this scheme. The Finance Ministry has announced the release of Sovereign Gold Bond Scheme 2022-23 in two phases.
Check what are the latest rates
According to the Reserve Bank of India, the issue price for the 2022-23 Series 1 of the Sovereign Gold Bond Scheme has been fixed at Rs 5091 per gram. At the same time, if you buy online, you will get a further discount of Rs 50 per gram, then its price will be Rs 5041 per gram.
Where can I buy gold bonds?
Investors can buy it through Stock Holding Corporation of India Limited (SHCIL), Post Office and recognized stock exchanges, NSE and BSE. However, you cannot buy this from Small Finance Bank and Payment Bank. Buy a unit of Gold Bond and an amount equal to its value is deducted from the account linked to your demat account.
Rs.50 off per gram on online purchase
The subscription price will be lower by Rs 50 per gram for investors applying for and paying for gold bonds through the digital medium. The investors will be given an interest of 2.5 per cent per annum on the fixed price on a half yearly basis. The tenure of the Sovereign Gold Bond will be of eight years and customers will have the option to exit from it after the fifth year. The maturity period of these bonds is 8 years and the lock-in period is 5 years, so its premature redemption can happen after 5 years and full redemption after 8 years.
How much and who can invest
These bonds can only be purchased by resident individuals, Hindu Undivided Families (HUFs), trusts, universities and charitable institutions. Individual investors can buy a maximum of 4 kg of gold bonds in a year. Apart from this, trusts or institutions can buy bonds of maximum 20 kg in a year.
what is this scheme
The Sovereign Gold Bond Scheme was launched by the Central Government in November 2015. RBI issues this bond on behalf of the government. During this scheme, investors get a chance to buy gold at lower rates than the market.
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