3 days are left to buy gold cheaply, Modi government is giving a chance

Sovereign Gold Bonds: The Modi government is giving everyone a chance to buy gold cheaply. The Sovereign Gold Bond issue has been opened since Monday 12th July. Now 3 days are left to invest in it. In this, the price of gold per one gram has been fixed at Rs 4,807. If you apply online then you will get another discount of Rs.50. That is, you can buy one gram of gold for Rs 4,757. Currently, the price of 1 gram of gold in the bullion market is Rs 4,810. In such a situation, buying gold from here will cost Rs 53 per gram cheaper.

how to buy gold

You can buy these Sovereign Gold Bonds from recognized stock exchanges like NSE, BSE. Apart from this, it can also be purchased from Stock Holding Corporation of India (SHCIL) and post offices. Keep in mind that it is not sold from small finance banks and payment banks.

will get so much interest

The Sovereign Gold Bond Scheme will have a maturity period of 8 years. There will also be an option to withdraw investment from the bond after 5 years on the next interest payment date. In this you can invest by buying 1 gram of gold. The issue will get interest at the rate of 2.5 per cent per annum. This interest will be credited to your account every 6 months.

Get tax exemption

The profit on its sale will get many more benefits along with exemption under Income Tax rules. This is the fourth episode of the financial year 2021-22 for investment in gold bonds by the government. The Finance Ministry said in a statement that sovereign gold bonds will be issued in six installments between May and September.

That’s how the price is fixed

RBI said that the Sovereign Gold Bond Scheme 2021-22 is a good investment opportunity in Series IV. In this, the average rate has been fixed by IBJA i.e. Indian Bullion and Jewelers Association on the basis of closing price of 7th, 8th and 9th July. This rate has been issued on the basis of gold of 999 purity. The central government will issue gold bonds in 6 installments under the Sovereign Gold Bond Scheme 2021-22 between May 2021 and September 2021. Its first phase was open for subscription on 17 May.

Scheme started in 2015

The government started this scheme in 2015. According to the data, around 65 tonnes of gold was sold through SGB in the last financial year. Sovereign Gold Bonds are government securities. It was launched as an alternative to physical gold.

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