Sovereign Gold Bonds 2023-24 Series III: There has been a sharp increase in the price of gold in the last one year. On December 18, 2022, the price of 24 carat gold was Rs 53,885 per ten grams. Whereas, today the price of gold according to GoodReturns website is Rs 62,510 per ten grams. This means that the price of gold has increased by approximately Rs 9 thousand. But amidst the rising prices of gold, you have a great opportunity to buy cheap gold. The government is giving a special opportunity to invest in gold from today. Sovereign Gold Bond Scheme 2023-24 Series-3 will be open for investment from 18-22 December. The issue price of this gold bond has been fixed at Rs 6,199 per gram by the government. The investor is going to get double benefit by investing money in this, firstly he will earn interest and secondly GST will also be saved. The government gives 2.5 percent interest on gold bonds. The government deposits money into the investor’s bank account every six months. To promote online purchasing, the government is also giving a discount of Rs 50 per gram on the investment amount.
What is the limit for sovereign gold bond investment?
Some rules have been made by the government for those investing in Sovereign Gold Bond Scheme 2023-24 Series-3. One can start investing in this with as little as one gram. For this he will have to deposit Rs 6,199. Whereas, a maximum of four kg gold bonds can be purchased in a financial year. Also, there is a limit of four kilograms for HUF (Hindu Undivided Family) and 20 kilograms for trusts and similar institutions. SGBs are issued by scheduled commercial banks (except small finance banks, payments banks and regional rural banks), Share Holding Corporation of India Limited (SHCIL), Settlement Corporation of India Limited (CCIL), designated post offices, National Stock Exchange India Limited and Bombay Stock Exchange Limited. Will be sold through. If you want, you can invest in it through your demat account.
Bond came first in 2015
India’s apex bank has said in its statement that the sale of gold bonds was first started in November 2015 as a part of reducing the demand for traditional gold and domestic savings. This bond is denominated in multiples of the basic unit of one gram. The maturity period of the gold bond will be eight years but there will be an option to exit after completion of five years. Under this scheme, minimum investment can be made in one gram of gold while the maximum limit is up to four kilograms.
What is Reserve Bank of India Sovereign Gold Bond
Reserve Bank of India (Reserve Bank of IndiaSovereign Gold Bonds issued by ) are a special type of financial security issued for the purpose of mobilizing financial resources for the Government of India. This bond has a fixed tenure and a fixed interest rate, which means that investors are given income in the form of interest at regular intervals and the principal amount is returned on time. Reserve Bank of India Sovereign Gold Bonds provide a useful financial source for the Indian Government and provide a stable and safe investment opportunity for them. It provides financial security to investors like gold, which means that they provide capital to the government and can earn interest by investing against it. Government Sovereign Gold Bonds help finance the economic plans and projects of the Indian government and help meet various financial objectives. Please note that the disputed and primary details of the Sovereign Gold Bond may change over time, so you may need to check the details and get the most up-to-date information.