Sovereign Gold Bonds Scheme: Opportunity to buy cheap gold from today, know important things including price

Sovereign Gold Bonds Scheme 2023-24 (Series I) , From today you are getting a chance to buy cheap gold under the Sovereign Gold Bond Series. This gold bond will be open till June 23 and you have 5 days to invest in it. In Sovereign Gold Bond, investors invest in gold of 24 carat purity i.e. 99.9 percent pure gold is invested in.

What is the issue price for Sovereign Gold Bond Series

The Reserve Bank of India has fixed a price of Rs 5,926 for the Sovereign Gold Bond Series. This is for buying through physical or offline mode and if you buy these gold bonds through online mode then you will get a discount of Rs.50 per gram. In this way, 5876 rupees will have to be paid for 1 gram of gold. Through Sovereign Gold Bond, you can invest in minimum 1 gram and maximum 4 kg of gold in a financial year.

50 off per gram on online purchase

The subscription price will be lower by Rs 50 per gram for investors applying and paying for gold bonds through digital means. Investors will be given 2.50 percent interest annually on a half-yearly basis on the fixed value. The tenure of Sovereign Gold Bond will be eight years and after the fifth year, the customers will have the option to exit from it. The maturity period of these bonds is 8 years and the lock-in period is 5 years, so its premature redemption can happen after 5 years and full redemption after 8 years.

Where can I buy gold bonds?

Investors can buy it through Stock Holding Corporation of India Limited (SHCIL), Post Office and recognized Stock Exchanges, NSE and BSE. However, you cannot buy it from Small Finance Bank and Payment Bank. Buy a unit of gold bond and an amount equal to its value is deducted from the account linked to your demat account.

How much and who can invest

These bonds can only be bought by resident individuals, Hindu Undivided Families (HUFs), trusts, universities and charitable institutions. Individual investors can buy a maximum of 4 kg of gold bonds in a year. Apart from this, trusts or institutions can buy bonds of maximum 20 kg in a year.

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