If you are also planning to buy cheap gold, then you can not get a better opportunity than this. Under Sovereign gold bond, you can get gold for less than the market price. A new tranche of the Reserve Bank of India’s (RBI) Sovereign Gold Bond (SGB) scheme 2021-22 has been opened for subscription on Monday. The issue will remain open till October 29. The bonds after subscription will be issued on November 2. Sovereign Gold Bonds are the best way to invest in gold in digital form without buying gold in physical form. You can earn good profits by investing in it for a long time.
Best opportunity for long term investment
The issue price of SGB VII has been fixed at Rs 4,765 per gram. The bond value will be based on the simple average closing price of gold published by India Bullion and Jewelers Association Limited (IBJA) for gold of 999 purity for the last 3 business days of the week preceding the subscription period. Sovereign Gold Bond (SGB) is a virtual form of investment in 24 carat gold.
Also read: Prices fell on gold from Monday, loot if you can
Understand the whole scheme in point
- The membership period of 2021-22 Series-VII will be 4 days from today
- The issue price has been fixed at Rs 4,765 per gram of gold.
- The issue price of gold bonds will be lower by Rs 50 per gram for those who subscribe online and pay through digital mode
- The bonds will be sold through banks (except small finance banks and payments banks), Stock Holding Corporation of India Limited (SHCIL), Clearing Corporation of India Limited (CCIL), designated post offices and recognized stock exchanges (National Stock Exchange).
- The term of the bond will be eight years.
- These bonds are traded in the secondary markets.
- The investors would be compensated at a fixed rate of 2.50 per cent per annum payable half-yearly on the value.
- Minimum investment will be at least 1 gram of gold.
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