The Reserve Bank of India (RBI) is offering a remarkable chance to purchase gold at an affordable price through the Sovereign Gold Bond Scheme.
The first series of the scheme for 2023-24 will be available from June 19 to June 23, while the second series will be released on September 24.
Understanding the Sovereign Gold Bond Scheme
The Sovereign Gold Bond Scheme is a government initiative that allows individuals to invest in gold at a price lower than the market rate.
It is a secure scheme backed by the Government of India, ensuring the safety of your investment.
The Reserve Bank of India administers this scheme, and it can be purchased from any bank or through net banking.
Pricing and Discounts
The gold price for the scheme is determined based on the average of the last three days’ gold prices prior to subscription and Aadhaar verification.
If you make an online payment, you can avail a discount of Rs 50 per 10 grams.
Investment Limits
According to the Reserve Bank of India guidelines, investors must purchase a minimum of one gram of gold through the Sovereign Gold Bonds.
Individuals can invest a maximum of 4 kg in their name, 4 kg as a Hindu Undivided Family (HUF), and 20 kg through a trust.
Where to Purchase the Scheme
The Sovereign Gold Bond Scheme is available for purchase at all banks, Stock Holding Corporation of India Limited (SHCIL),
Clearing Corporation of India Limited (CCIL), National Stock Exchange of India Limited, and Bombay Stock Exchange Limited.
Interest Rates and Maturity
The maturity period for the Sovereign Gold Bond Scheme is 8 years, with an option to exit in the 5th year.
Investors receive an interest rate of 2.50 percent.
This government scheme was launched in 2015, providing an attractive opportunity to invest in gold.
