Sovereign Gold Bond Scheme 2023-24 (Series II): Sovereign Gold Bond Scheme is a long-term investment. Its lock in period is 8 years. However, you can also exit from it in the 5th year.
If you are planning to invest in gold then there is good news for you. From today you have a chance to buy cheap gold. Actually, according to the report of BQ PRIME, the Reserve Bank has announced Series 2 of the Sovereign Gold Bond Scheme (Sovereign Gold Bond Scheme 2023-24), in which you can apply from today i.e. from September 11, this scheme will be available from September 15. Will last till.
How much is the price for Sovereign Gold Bond Scheme?
This time under the Sovereign Gold Bond Scheme 2023-24 Series 2, the Reserve Bank has fixed the price of 1 gram at Rs 5,923. If you pay digitally, you will also get a discount of Rs 50 per gram, that is, instead of Rs 5,923, you will have to pay Rs 5,873 per gram.
How to invest in sovereign gold bond?
You can buy Sovereign Gold Bond through banks, Stock Holding Corporation of India Limited (SHCIL), designated post offices and stock exchanges – NSE, BSE. You can pay it digitally through UPI. If you want to make physical payment, you can give cash, check or draft.
Minimum investment amount
Individuals, HUFs, trusts, universities and charitable institutions can invest in the Sovereign Gold Bond Scheme. The minimum investment in this is 1 gram. Whereas, a person can invest maximum up to 4 kg in this scheme. The maximum investment for trusts and other such institutions is 20 kg.
What is the lock in period?
Sovereign Gold Bond Scheme is a long term investment. Its lock in period is 8 years. However, you can also exit from it in the 5th year. Those who invest in this get a certificate from the government. Sovereign Gold Bond Scheme can also be converted into demat form. It can also be used as collateral for loan.
Why is Sovereign Gold Bond better?
The Sovereign Gold Bond Scheme is issued by the Reserve Bank of India (RBI) on behalf of the government. It is seen as an alternative to physical gold. Investing in Sovereign Gold Bond Scheme is considered safer and more profitable than physical gold. There is no risk regarding purity in this and interest is also available. The interest rate offered on these bonds is 2.50% per annum on the initial investment amount.
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Disclaimer: This price prediction is only for reference purpose only, this prediction is only if there are positive market sentiments, and any uncertainties in the company or global market condition is not covered in this analysis.
