Sovereign Gold Bond Scheme 2023-24: Through the Sovereign Gold Bond Scheme 2023-24 (Gold Sovereign Scheme), the government sells gold at a price lower than the market rate. The next series of the Sovereign Gold Bond Scheme 2023-24 will commence on February 12, 2024, and conclude on February 16, 2024. This scheme allows investment in gold at a price lower than the market through a government-initiated plan, guaranteeing the security of the investment by the Indian government.
Gold can be purchased through the bond
According to the guidelines issued by the Reserve Bank of India, if you plan to invest in the Sovereign Gold Bond, you must purchase at least one gram of gold. Additionally, individual investors can invest a maximum of 4 kilograms of gold, while 4 kilograms for HUF (Hindu Undivided Family) and 20 kilograms for a trust can be invested. The bond is managed by the Reserve Bank of India.
How much interest does the Sovereign Gold Bond Scheme offer?
The maturity of the Sovereign Gold Bond Scheme is a total of 8 years, and investors have the option to exit after the 5th year. Under this scheme, investors receive an interest rate of 2.50%. The Sovereign Gold Bond Scheme was initiated in the year 2015, and it can be purchased from any bank. Online purchasing is also possible through net banking. The gold price in this scheme is determined based on the average of the previous three days’ gold prices before the subscription and on the basis of Aadhaar. If you make an online payment for gold, you also receive a discount of Rs. 50 per 10 grams.
how to buy sovereign gold bond?
The Sovereign Gold Bond Scheme can be purchased from 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.
