Sovereign Gold Bond Scheme 2020-21 Series 7: Reserve Bank of India has launched the seventh series of Sovereign Gold Bond from 25 October i.e. today for the financial year 2020-21. Its subscription will run till October 29.
New Delhi: Sovereign Gold Bond Scheme 7: In the midst of rising inflation, once again there is an opportunity to buy cheap gold. The sale of Sovereign Gold Bond Scheme 2021-22 – Series 7 of the seventh series has started from 25 October. The subscription for this will run till October 29. Sovereign Gold Bond is issued by the RBI on behalf of the government. Let us know how and from where you can buy it and get extra offers.
Know what is the rate?
The Finance Ministry said that this is the seventh phase of the 2021-22 series. The issue price for this installment of Sovereign Gold Bond Scheme 2021-22 has been fixed at Rs 4,765 per gram. The government in consultation with the RBI has decided to give a discount of Rs 50 per gram from the issue price to those investors who apply online and make the payment through digital mode. The issue price of the gold bond for such investors would be Rs 4,715 per gram. That is, you will get a discount of Rs 500 on 10 grams.
Get tremendous benefits
It is worth noting that in this scheme, investors get the benefit of interest at the rate of 2.5 percent per annum. Capital gains tax exemption is also available in this scheme. There is no GST and making charges for buying gold under this scheme. If you want, you can buy 4 kg gold bonds under this. Apart from this, the trust or institution can buy bonds up to 20 kg.
Where can I buy Sovereign Gold Bonds?
According to the ministry, all banks, except Sovereign Gold Bond Small Finance Bank and Payment Bank, Stock Holding Corporation of India (SHCIL), designated post offices, recognized stock exchanges, National Stock Exchange of India Limited (NSE) and Bombay Can be bought from Stock Exchange Limited (BSE).
After how many years maturity
Sovereign Gold Bond has a maturity of 8 years. But after five years, you can exit from this scheme on the next interest payment date. In Sovereign Gold Bond, the investor is required to invest at least one gram of gold. If needed, the investor can also take a loan against the sovereign gold bond, but the gold bond will have to be pledged.
Who can buy Sovereign Gold Bond?
Any individual and Hindu undivided family can buy gold bonds up to a maximum value of 4 kg. For trusts and other similar institutions, this limit has been kept up to the equivalent price of 20 kg of gold. Sovereign Gold Bond can also be bought as a joint customer. It can also be bought in the name of a minor. In the case of a minor, his parent or guardian has to apply for the Sovereign Gold Bond.
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