Sovereign Gold Bond: On February 1, 2021, the 11th series of the Sovereign Gold Bond Scheme is opening for subscription. Let us know that on 1 February 2021, the general budget will also be presented. In such a day, you can buy cheaper gold at the market price.
If you want to buy cheap gold on the day of budget (Budget 2021), then there is a better chance for you. In fact, on February 1, 2021, the 11th series of the Sovereign Gold Bond Scheme is opening for subscription. Let us know that on 1 February 2021, the general budget will also be presented. In such a day, you can buy cheaper gold at the market price. The Reserve Bank of India (RBI) has fixed the issue price of this scheme at Rs 4,912 per gram. You can invest in it from 1 February to 5 February 2021.
Buy cheap gold at Rs 500 per 10 grams – Investors will get a rebate of Rs 50 per gram for applying online and paying through digital means. In this case, if you invest in online sovereign gold bonds, then you will get a rebate of 500 rupees per 10 grams.
Highlights of Sovereign Gold Bond
>> RBI issues Sovereign Gold Bond on behalf of Government of India.
>> Investors in bonds can invest in multiply of one gram.
>> The investment period in this is 8 years. From the fifth year, the scheme gives an option to withdraw from the interest payment date.
>> The sale of bonds will be done personally to residents of India, Hindu undivided families, trusts, universities and charitable institutions.
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How much can you buy gold
Under the scheme, individual investors and Hindu undivided families can buy at least 1 gram and maximum 4 kg of gold in a financial year. The trust and other such units can buy 20 kg of gold every year.
Gold bonds will be sold through banks, stock holding corporations of India, post offices and recognized stock exchanges.
How the rate of gold is decided
The RBI Sovereign Gold Bond rate fixes this rate based on the rate published on the website of the India Bullion and Jewelers Association. RBI issues average gold prices between 27 and 29 in January. This time the price has been fixed at Rs 4,912 per gram and Rs 49,120 per 10 gram. The RBI issues 24 carat gold bonds under this scheme.
