Sovereign Gold Bond Scheme: The government has also decided to give discount to investors in consultation with RBI. If you make digital payment while buying it then you will get a discount of up to Rs 50 per gram. The issue price for such investors will be Rs 5,561 per gram of gold.
Sovereign Gold Bond Scheme: If you want to invest in gold through the Sovereign Gold Bond Scheme, then there is a great opportunity. The issue price for the next tranche of the Sovereign Gold Bond Scheme 2022-23 has been fixed at Rs 5,611 per gram. The fourth series of this scheme is opening for subscription from today i.e. 6th March and investors will be able to invest in it for 5 days i.e. its last date is 10th March. The Reserve Bank of India said in a statement on March 3 that the price of gold bonds has been fixed at Rs 5,611 per gram.
The Reserve Bank of India issues Sovereign Gold Bonds (SGBs) on behalf of the Government of India. This scheme was launched in November 2015. The objective is to reduce the demand for physical gold and encourage a part of the household savings to be used to purchase gold.
50 rupees discount on digital payment
The government has also decided to give discount to investors in consultation with RBI. If you make digital payment while buying it then you will get a discount of up to Rs 50 per gram. RBI said, ‘The issue price of gold bonds for such investors will be Rs 5,561 per gram of gold.’
Important things to know before investing
1. The Bonds will be sold through banks, Stock Holding Corporation of India Limited (SHCIL), designated post offices and recognized stock exchanges – National Stock Exchange and Bombay Stock Exchange.
2. Under the Foreign Exchange Market Act (FEMA), any resident is eligible to invest in Sovereign Gold Bonds. Apart from these, investments can also be made by their respective guardian on behalf of the minor.
3. NRIs cannot invest in Sovereign Gold Bonds, but they are allowed to hold these bonds as a nominee of a resident investor.
4. The tenor of these Gold Bonds will be for eight years, with an option for premature redemption after the fifth year, the date on which interest will be payable.
5. The Bond will be priced in rupees on the basis of simple average closing price of gold of 999 purity. The bonds are denominated in multiples of gram(s) of gold with a basic unit of 1 gram. The bond is denominated in multiples of gram(s) of gold with a basic unit of 1 gram.
6. Investors have to buy at least 1 gram of gold. At the same time, the maximum limit of subscription in each financial year has been fixed at 4 kg for individual. At the same time, this limit has been fixed at 4 kg for Hindu Undivided Family (HUF) and 20 kg for trusts and similar entities.
7. Unlike gold coins and bars, GST is not levied on Gold Bonds. Buying gold in digital or physical form attracts 3 per cent GST, but this is not applicable for SGB. There is no making charge in this.
8. Sovereign Gold Bonds are not physical and therefore do not have any storage potential. That’s why it is considered more secure in terms of investment.
9. Know-your-customer (KYC) rules will be similar to buying physical gold.
10. To buy SGB you will need documents like Voter ID Card, Aadhaar Card/PAN Card or Passport.
