Winning Bizness Sports Desk

Mumbai. The Reserve Bank of India is giving people an opportunity to buy cheap gold at a lower price than the market price. Consumers can buy gold cheaply under the Sovereign Gold Bond scheme. RBI has issued the second series of Sovereign Gold Bonds for the financial year 2023-24 and under this Scheme, a period of five days will be given for buying cheap gold. The Sovereign Gold Bond Scheme will be open for subscription from September 11 to September 15. Customers can buy Sovereign Gold Bonds both online and offline. In Sovereign Gold Bonds, investors invest in gold of 24 carat purity i.e. 99.9 percent pure gold. A sovereign gold bond is a government bond which is issued on behalf of RBI. The government started this scheme in 2015. It can be bought in the form of gold weight. If these bonds are of 5 grams, then the price is equal to 5 grams of gold.

Price Rs 5,923 per gram

According to a notification issued on September 8, the Reserve Bank of India has fixed the issue price for the second series of sovereign gold bonds at Rs 5,923 per gram. You can buy 99.9 percent pure gold in person or online. A discount of Rs 50 per gram will be given if purchased online. This will reduce the price to Rs 5,873 per gram. Under this scheme, if investors invest in gold, people will be given 2.50 percent interest on a fixed price on a semi-annual basis. The maturity period of the Sovereign Gold Bond is 8 years and after five years, customers will have an opt-out option.

Where can gold be purchased under the Sovereign Gold Bond?

If you want to buy bonds in this scheme, investors can buy through Stock Holding Corporation of India Limited (SHCIL), Post Office and recognized stock exchanges NSE and BSE. It is not sold in small finance banks and payments banks. If we talk about the maximum investment in this, then you can buy 4 kg gold bonds. A trust or an organization, can buy bonds up to 20 kg. Bond Prices are determined on the basis of average closing price of gold of 999 purity.

Advantages of Sovereign Gold Bonds

• Investors in this scheme get interest at the rate of 2.5 percent per annum.
• Capital gain tax is exempted under this scheme.
• GST and making charges are not required to be paid for the purchase of gold under this scheme.
• Apart from this, we can also use it as collateral.
• You can trade through the stock exchange.
• Apart from this, investors do not need to stress about the security of these bonds.