All you need to know about Sovereign Gold Bonds!
Posted on: 22/Jun/2022 1:33:26 PM
- 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!
