Sovereign Gold Bond Scheme: Huge discount on gold, opportunity to buy cheap gold in just 5 days

Sovereign Gold Bond Scheme 2023-24: Very good news has come for gold buyers. Let us tell you that the second series of Sovereign Gold Bond has been updated by RBI. In the coming 5 days you can buy gold at such a low price…

Sovereign Gold Bond Scheme 2023-24 (Series II): The Reserve Bank of India is giving people an opportunity to buy cheap gold (gold price). You can buy this gold at a price lower than the market price. Cheap gold can be purchased under the Sovereign Gold Bond Scheme. RBI has released the second series of sovereign gold bonds for the financial year 2023-24.

Under the Sovereign Gold Bond Scheme, five days are being given to buy cheap gold. The Sovereign Gold Bond Scheme will be open for subscription from September 11 to September 15. Gold can be purchased in both online and offline mode. In Sovereign Gold Bond, investors invest in gold of 24 carat purity i.e. 99.9 percent pure gold can be invested.

Sovereign Gold Bond Scheme Issue Price 

According to the notification issued on September 8, the Reserve Bank of India has kept the issue price at Rs 5,923 per gram for the second series of Sovereign Gold Bond Scheme. You can buy 99.9 percent pure gold physically or online. If you buy online then a discount of Rs 50 per gram will be given. With this the price will reduce to Rs 5,873 per gram.

How much interest will be received? 

If investors invest in gold under this scheme, then people will be given interest of 2.50 percent on the fixed price on half yearly basis. The maturity period of Sovereign Gold Bond (RBI Sovereign Gold Bond) is 8 years. And after five years, customers will have the option to opt out.

Where to buy gold under Sovereign Gold Bond? 

Under the second series of this scheme, cheap gold can be purchased through Stock Holding Corporation of India Limited (SHCIL), Post Office and recognized stock exchanges, NSE and BSE. You can invest in it under Demat account.

How much can be invested: 

Indian residents, Hindu Undivided Families (HUF), trusts, universities and charitable institutions can invest under this bond. A person is allowed to buy a maximum of 4 kg of gold in a year. Whereas trusts and institutions can buy 20 kg of gold in a year.

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