Sovereign Gold Bond: The Reserve Bank of India (RBI) has said in a statement given on Friday that this time the price of gold subscription has been fixed at Rs 4,912 per gram.
New Delhi. The subscription opportunity in Soverign Gold Bond is about to open once again. On behalf of the central government, the Reserve Bank of India (RBI) has fixed the price of gold subscription at Rs 4,912 per gram. This is the eleventh occasion of the Sovereign Gold Bond Scheme 2020-21 Series (Sovereign Gold Bond Scheme 2020-21 Series XI). Investors have a chance to invest in it from 1 February to 5 February 2021.
RBI has also told in this statement that it has also been decided to give a discount of Rs 50 per gram to the investors making online payment and purchase of this bond. The price of this gold bond will be Rs 4862 per gram for such investors.
The Reserve Bank said on Friday that the nominal value of the bond was fixed at Rs 4912. The bond price has been determined by the Indian Bullion and Jewelers Association Limited (IBJA) based on the average closing price of gold of 999 purity between January 27 and 29.
A person can buy up to 400 grams of gold bonds in a financial year under the sovereign gold bond scheme. At the same time, the minimum investment is one gram. You can save tax by investing in this scheme. Bonds will be banned for sale to trustee individuals, HUFs, trusts, universities and charitable institutions.
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Investor PAN is required with every application of Sovereign Gold Bond. All Commercial Banks (except RRBs, Small Finance Banks and Payments Banks), Post Offices, Stock Holding Corporation of India Limited (SHCIL), National Stock Exchange of India Limited and Bombay Stock Exchange or through direct agents to receive applications and customers All services are authorized to be provided.
2.5 percent interest will be earned annually on gold bonds. Investors also get the facility to buy at least 1 gram bond. Investors also have the facility to take loans against gold bonds. There is a government (sovereign) guarantee of both capital and interest. Individuals will not have to pay long term capital gains tax. Gold bonds can be used as collaterals for taking loans. Apart from this, TDS is also not deducted when investing in gold bonds.
Gold price under RBI Gold Bond published by Indian Bullion and Jewelers Association (IBJA) The average closing price is determined on the basis of. This is for 999 purity gold.
Gold bonds can be invested through small finance banks or payment banks, stock holding corporations of India, post office, and NSE and BSE. Experts believe that Sovereign Gold Bond is an effective way to invest in non-physical gold. If an investor in a gold bond stays till maturity, they get many benefits.
