Sovereign Gold Bond: From February 1, 2021, the 11th series of Sovereign Gold Bond Scheme opened for subscription. You can invest in it from 1 February to 5 February 2021.
If you want to buy gold then there is good news for you. Punjab National Bank, the country’s second largest government bank, is giving people the opportunity to buy cheap gold. In fact, from February 1, 2021, the 11th series of Sovereign Gold Bond Scheme opened for subscription. You can invest in it from 1 February to 5 February 2021. There will be a discount of 50 rupees per gram on online purchase. PNB has given this information by tweeting.
RBI has fixed the gold bond issue price at Rs 4,912 per gram. You will get a rebate of Rs 50 per gram for applying online and making payments through digital medium. In this case, if you invest in online sovereign gold bonds, then you will get a rebate of 500 rupees per 10 grams.
Benefits of Sovereign Gold Bond Scheme
- >> PNB said in tweet, Sovereign Gold Bond Scheme adds a golden glow to your life.
- >> it’s easy to buy.
- >> With Safe and Secure Investments, you can keep it in your demat form.
- >> Loan facility is also available on Sovereign Gold Bonds.
- >> You can also trade it on stock exchanges.
How much can you buy gold
- >> Under the scheme individual investors and Hindu undivided family can buy at least 1 gram and maximum 4 kg of gold in a financial year.
- >> Trust and other such units can buy 20 kg of gold every year.
- >> Gold bonds will be sold through banks, stock holding corporation of India, post office and recognized stock exchanges.
How the rate of gold is decided
RBI Sovereign Gold Bond rate fixes this rate based on the rate published on the website of the India Bullion and Jewelers Association. RBI issues average gold prices between 27 and 29 in January. This time the price has been fixed at Rs 4,912 per gram and Rs 49,120 per 10 gram. RBI issues 24 carat gold bonds under this scheme.
Highlights of Sovereign Gold Bond
- >> RBI issues Sovereign Gold Bond on behalf of Government of India. Investors in bonds can invest in multiply of one gram.
- >> The investment period in this is 8 years. From the fifth year, the scheme gives an option to withdraw from the interest payment date.
Check out Gold Price in India.