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All you need to know about Sovereign Gold Bonds!

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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!
 
Gold Rate in Chennai
 




 




 













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