Today marks the final opportunity to invest in the Sovereign Gold Bond (SGB) scheme by the Government of India.
Launched on Monday, February 12, 2024, the scheme remains open for investment until today, Friday, February 16, 2024. Don’t miss out on the chance to purchase gold at a rate lower than the market price.
Sovereign Gold Bond Price Details
Issue Price: The government has fixed the issue price for the Sovereign Gold Bond Scheme 2023-24 at Rs 6,263 per gram.
Important Dates:
Purchase Window: February 12 – February 16, 2024
Release Date: February 21, 2024
Online Payment Discount Offered
Price Reduction: Avail a discount of Rs 50 per gram by making online payments.
Online Issue Price: The issue price reduces to Rs 6,213 per gram with online payment.
Flexible Purchase: Investors can buy as little as 1 gram of gold through this scheme.
Interest Benefits of Sovereign Gold Bond
Maturity Period: The Sovereign Gold Bond Scheme has a total maturity period of 8 years, with an option to exit in the 5th year.
Interest Rate: Investors receive a fixed interest rate of 2.50% per annum, payable every 6 months.
Loan Collateral: SGB can be utilized as collateral for loans.
Tax Implications: Interest earned on SGB is taxable under the Income Tax Act 1961 (43 of 1961).
