2024-02-05 14:53:24
A gold bond matures every 8 years. Those who want to sell can sell anytime after 5 years.
- 2-MIN READ
| News18 Tamil
Tamil Nadu
Last Updated : February 5, 2024, 8:23 pm IST
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Savaran Gold Bond Scheme: Another good opportunity is coming for those who want to invest in gold. The Reserve Bank of India is set to issue the last tranche of the 2023-24 series of Savaran Gold Bonds on February 12. So the SGB subscription opened on February 12, 2024 will close on February 16. Let’s see clearly about this.
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The third term issue ended on December 18-22, 2023. At that time, RBI fixed the price of gold at Rs.6,199 per gram. The first part of the 2023-24 series was played from June 19-23 and the second part from September 11-15.
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24 carat pure gold can be bought at low cost through Sawaran Gold Bond Scheme. RBI issues these PASI bonds on behalf of the central government.
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What is the scheme: The scheme was launched in 2015. It’s not real gold you’re looking at. It’s digital gold. It is invisible. Not the gold you keep at home. Its purchase and sale is done online. Experts say buying digital gold is more profitable than buying gold externally.
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How low is the price? In the Savaran Gold Bond Scheme, the RBI issues gold as bonds. One bond is equal to one gram of gold. If you apply for bonds online and pay digitally, you will get a discount of Rs.50 per gram.
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How to buy bonds? Savaran Gold Bonds can be applied for and purchased through Scheduled Commercial Banks, Post Offices, Shareholding Corporation of India (SHCIL), Clearing Corporation of India (CCIL), Recognized Stock Exchanges (NSE, BSE). Individuals can buy from one gram to 4 kg in a financial year. That is, 4,000 bonds can be bought. KYC rules for buying gold are applicable to this gold bond.
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How to sell: This gold bond matures every 8 years. Those who want to sell can sell anytime after 5 years. The sale will be based on the prevailing selling price.
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What are the benefits of holding bonds? These bonds pay 2.50 percent interest every 6 months. That means interest is compounded every 6 months. Sawaran gold bonds can also be traded in the stock market. These are not subject to GST. Also, if these bonds are held for 8 years and sold, there will be no TDS on the proceeds. However, if you sell the securities before three years from the date of purchase, the proceeds will be included in your personal income. Pay income tax slab-wise tax. After 3 years the proceeds from sale will be long term capital gain. But, it is also necessary to pay tax.
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- First Published : February 5, 2024, 8:23 pm IST
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