Government is selling cheap gold on Diwali-Dhanteras, buy till November 13

Chance to buy cheap gold

If you want to buy gold on the auspicious occasion of Diwali or Dhanteras. But if you do not want to buy as jewelery, then you can invest in this special scheme of the central government. Actually, if you do not want to buy gold physically, you can invest in sovereign gold bond scheme. It has many advantages.

Investment opportunity in this scheme from 9 November to 13 November

In fact, the Sovereign Gold Bond Scheme of Reserve Bank of India (RBI) has started from today. This is the eighth subscription series of sovereign gold bonds for the financial year 2020-21. If you want to invest in gold bonds, then by November 13 there is a chance. That is, you can invest in this scheme from November 9 to November 13.

Gold issue price fixed at Rs 5177 per gram

This time RBI has fixed the issue price of gold at Rs 5177 per gram. According to the Reserve Bank, investors applying online will get a rebate of Rs 50 per gram. That is, for a one gram sovereign gold bond, Rs 5,127 will have to be paid. Under the seventh series of the Sovereign Gold Bond Scheme 2020-21, which was opened between October 12 and 16 last month, the price of one gram gold bond was set by the RBI at Rs 5,051.

A chance to buy gold at a lower rate than the market

Let me tell you, the price of this government gold bond is less than the rate of gold going on in the market. In the Sovereign Gold Bond Scheme, the price of gold is decided by the Reserve Bank of India. The minimum investment in this bond is one gram. Tax is also discounted on this. Apart from this, loan can also be taken from the bank through the scheme.

How much can you buy gold

The RBI issues sovereign gold bonds on behalf of the Government of India. Investment in this bond is made in multiples of one gram, the maximum limit for a person is 500 grams in a year. At the same time, Hindu joint families can buy bonds up to a maximum of 4 kg of gold price during a year. The upper limit of investment is 20 kg in case of trust and similar units for the financial year.

Benefits of buying a bond

As gold prices rise, so do gold bond investors. These are in bond paper and electronic format. So that you do not have to bear the expense of keeping it in a locker like physical gold. The sale of this gold is done through stock holding corporation of India limited besides banks, post offices, NSE and BSE.

Benefits of Sovereign Gold Bond

The bond will get at least 2.5 percent annual return. There is no possibility of fraud and impurity in gold bonds. These bonds will be matured after 8 years. It is clear that after 8 years, money can be withdrawn by roasting it. Not only this, there is also an option to get out of it after five years.

Significantly, this scheme was started in November 2015. Its purpose is to physically reduce the demand for gold and to use domestic savings in financial savings in the purchase of gold.