2024-02-06 18:45:00
New Delhi: The fourth tranche of gold bonds for the current financial year will be issued from 12th to 16th of this month. The central government announced the Gold Savings Bond Scheme in November 2015 as part of a move to reduce gold imports.
Reserve Bank of India issues gold bonds on behalf of the central government. In this, gold can be stored in document form.
Phase IV release@
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One gram of gold is given as one unit.
In the current financial year, first phase gold bonds from 19th to 23rd June last year; From 11th to 15th September, second phase gold bonds; The third tranche of gold bonds was also issued from 18th to 22nd December.
In this case, from the 12th to the 16th, the fourth phase of gold bonds will be released.
Each time, the average price of 24 carat gold for the last three days of the week preceding the issue of the gold bond is determined.
The RBI will soon set the price and make an announcement for the fourth tranche of gold bond issue.
Double interest
Investments in these gold bonds can be made through public sector and private banks, post offices, National Stock Exchange and Mumbai Stock Exchange. In case of online purchase, discount of Rs.50 per gram will be given.
Also, interest will be paid bi-annually at a fixed rate of 2.50 percent.
An individual can invest up to a maximum of 4 kg per annum and organizations such as trusts can invest up to 20 kg.
The maturity period of gold bonds is eight years. However, after completion of five years, the investment can be withdrawn before maturity.
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