The Sovereign Gold Bond Scheme 2020 Series 5 is being launched by the Government of India once again from 7 October 2019. A person who wants to invest money in gold under this scheme can do it till October 11. The issue price of this bond has been fixed at Rs. 3788 per gram by the Government of India. Under this scheme, Bonds are represented in units of 1 gram of gold, the minimum investment in this bond is 1 gram.
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Buy Gold At Rs 3788 Per Gram In SGB
The Sovereign Gold Bond Scheme was launched in November 2015. Under the series of this scheme, the Government of India provides an opportunity to the people of the country to buy gold at low prices from time to time. Into this scheme, you can invest money in gold. Under the Sovereign Gold Scheme, the price of gold is guaranteed by the Reserve Bank of India. This year from October 7 to October 11, Gold Bonds will be opened for subscription at an issue of Rs. 3788 per gram. Dear friends, today we are going to tell you the complete information about SGB Scheme 2020 through this article.
What Is Sovereign Gold Bond?
The people of the country are being given a golden opportunity to invest money in gold in SGB So people do not need to keep gold in physical form. In this scheme, investors get the opportunity to invest in gold per gram whose price is related to the market price of Bunyan. Sovereign Gold Bonds can be made in cash when they are completed.
SGB Scheme 2020
Under the Sovereign Gold Bond Scheme, the government will give a discount of Rs. 50 per gram to the investors for online application and payment of payment. In this way, the issue price of gold bonds for investors will be 3738 rupees per grams. Under this scheme, it has now been decided to pay for the purchase of bonds through digital mode for the citizens of the country. If a person buys physical gold, he has to pay a GST charge along with the making charge, but you will not have to pay any GST charge in SGB Scheme 2020.
Silent Features of Sovereign Gold Bond Scheme
- Any person in the country can invest up to 1 gram in a sovereign gold bond in a financial year and can invest up to 500 grams.
- Any undivided Hindu family can invest up to 4 kg.
- Under this scheme, if a trust invests in gold bonds, then they can buy bonds up to 200 kg. The price of this gold bond is less than the going rate in the market.
- Taxes are also exempt under Gold Bonds, apart from this, loans can also be taken from the bank.
Eligibility For The Scheme
Only the following people are eligible for the Sovereign Gold Bond scheme 2020
- The citizens of India
- HUFs is known as Hindu Undivided Family.
- Charitable institutions
- NRIs are not allowed to invest in the scheme.
Objective of Sovereign Gold Bond Scheme 2020
As you know, the price of gold is going to increase continuously in some time, due to which you are far away from the idea of buying public gold. Keeping in mind that the Government of India has started the Sovereign Gold Bond Scheme. Has decided. The objective of this scheme is to reduce the demand for physical gold and to convert domestic savings used for buying gold into financial savings.
How to Buy Gold In Sovereign Gold Bond Scheme
Sovereign Gold Bonds are being sold in various commercial banks, post offices, NSEs, Stock Holding Corporation of India Limited and also at places like the National Stock Exchange (NSE), Bombay Stock Exchange.
- Fill in all your bank account details such as your CRN number, Account number, Name, etc.
- Click on Confirm.
- A new web page will open enter the number of bonds you want to invest in.
- Click on Submit
- After that a confirmation message will display on the screen that you have successfully invested in the number of bonds.
- Central Government Scheme
- Download Sovereign Gold Bond FAQs
- For More Details Visit at RBI Official Website