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All you need to know about Sovereign Gold Bonds!
Posted on:
22/Jun/2022 1:33:26 PM
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Sovereign Gold Bond - known as SGB - is released by the Reserve Bank of India!
This system is of investment through Gold Bonds instead of directly investing in Gold!
Investors can invest starting from 1 gram of gold to a maximum of 4 kg of gold in a given financial year!
If the investment is done by an Endowment Board or organisation, the maximum investment can be up to 20 kg of gold!
There are no making charges or wastage charges while investing in Gold Bonds!
Keeping physical gold requires n elaborate and expensive process whereas the Gold Bond has in-built safety aspects!
Sovereign Gold Bond investment can be done in the banks, Post Offices, and Stock Holding corporations India Limited.
Aadhar Card Details MUST be given as proof of residential address! PAN (Permanent Account Number - Income Tax Department) card is MANDATORY!
A yearly interest of 2.5% will be given for the investment made! Income Tax exemption is available for this!
The maturity period for the Sovereign Gold Bond is 8 years, But the provision is available to withdraw interest after 5 years!
While applying ONLINE for Sovereign Gold Bond Investment, a discount of Rs. 50/- per gram is available for the investor!
A maximum amount of Rs. 20000 is the limit for investors in buying gold bone in cash!
Up to 65% of the Sovereign Gold Bond invested can be obtained as a loan from banks and non-banking financial organisations!
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