In a significant move ahead of the budget, the Modi government introduces the Sovereign Gold Bond Scheme 2023-24, allowing investors to purchase gold at a discounted price.
The scheme, open for public investment from December 18 to December 22, 2023, presents an exclusive chance to acquire gold before the budget at an issue price of Rs 6199 per gram.
Golden Offer: Buy Gold Cheaper Than Current Market Rates
As gold prices soar above Rs 6250 per gram in the bullion market nationwide, the government extends a special opportunity to buy gold at a reduced cost through the Sovereign Gold Bond Scheme.
Act fast as the investment window is open until December 22, 2023, with bonds set to be issued to investors by December 28, 2023.
Decoding the Sovereign Gold Bond Scheme
Explore the benefits of the Sovereign Gold Bond Scheme, a government-backed initiative offering gold investments at rates lower than the market.
Guaranteed by the Government of India and managed by the Reserve Bank of India, this scheme allows purchase through banks or net banking, with an additional Rs 50 discount for online transactions.
Investment Guidelines and Options
For those considering investment, the Reserve Bank of India specifies a minimum purchase of one gram of gold, while individuals, HUFs (Hindu Undivided Families), and trusts can invest up to 4 kg, 4 kg, and 20 kg respectively.
The scheme has an 8-year maturity period, allowing an exit option in the 5th year.
Earn as You Invest
Investors in the Sovereign Gold Bond Scheme enjoy a 2.50 percent interest rate over the 8-year maturity period, providing an added incentive for participation.
The scheme, initiated in 2015, has become a popular avenue for gold investment.
Where to Buy
The Sovereign Gold Bond Scheme is available for purchase at 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.
