Gold bonds can be invested from November 9 to 13
You will get a discount of Rs 50 per gram on online and digital payments
If you want to buy gold at cheaper prices on Dhanteras or Diwali, the government is giving you the opportunity to buy cheap gold under the Sovereign Gold Bond Scheme.
The Reserve Bank of India (RBI) has fixed the price of gold for the eighth series of the Sovereign Gold Bond Scheme. The RBI has fixed the gold price at Rs 5,177 per gram this time.
Those who apply online for this gold and pay through digital payment will get a discount of Rs 50 per gram. The scheme will run from November 9 to 13. Here are some important facts about Sovereign Gold Bond Scheme.
2.50% interest on
issue price Sovereign Gold Bonds get a fixed interest rate of 2.50% per annum on the issue price. This money is credited to your account every 6 months. According to the NSE website, one of the advantages of investing in Sovereign Gold Bonds is that there is no tax on the profits after a maturity period of 8 years. In addition, there is no TDS on the interest paid every six months.
Buying Gold ETF Easy
To buy Gold ETF you have to open a demat account through your broker. In this the person can buy units of Gold ETF available on NSE and the same amount will be deducted from the bank account linked to the person's demat account. Gold ETF is credited to the person's account two days after placing the order in the person's demat account.
What is a Sovereign Gold Bond?
Sovereign gold bonds are government bonds. It can be converted to Demat form. It is valued not in rupees or dollars, but in the weight of gold. If the bond is five grams of gold, the value of the bond will be the same as the value of five grams of gold. To buy it, you have to pay the issue price to an authorized broker of SEBI. The bonds are issued by the Reserve Bank of India (RBI).
2.50% interest on
issue price Sovereign Gold Bonds get a fixed interest rate of 2.50% per annum on the issue price. This money is credited to your account every 6 months. According to the NSE website, one of the advantages of investing in Sovereign Gold Bonds is that there is no tax on the profits after a maturity period of 8 years. In addition, there is no TDS on the interest paid every six months.
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1 gram to 4 kg of gold can be bought
A person can buy a bond of minimum 1 gram and maximum value of 4 kg in a financial year. However, the maximum purchase limit for the trust is 20 kg. One can buy 500 grams of gold bonds in a financial year. That means if you want to exit this bond you can exit after 5 years. According to the NSE, this sovereign gold bond can also be used as collateral when taking out a loan. Apart from this, these bonds can also be traded on the NSE.
Maturity period of 8 years remains The maturity period of the bond is 8 years. That is, you can cash it in after 5 years if needed. According to the NSE, this sovereign gold bond can also be used as collateral. Apart from this, these bonds also trade on the NSE. If there is any capital gain on the maturity of the gold bond, it is exempt.
Pure Gold is
Available The price of a gold ETF is transparent and uniform. It imitates the London Bullion Market Association, the global authority for precious metals. Also, physical gold can be offered by different sellers / jewelers at different prices. Gold purchased from Gold ETF guarantees 99.5% purity, which is the highest level of purity. The price of gold taken by a person will be based on this purity.
Making Charge Feels Less Brokerage
Buying a gold ETF costs 0.5% or less brokerage and paying a 1% charge per year to manage the portfolio. This is nothing compared to the 8% to 30% charge that the jeweler and the bank have to pay. Traders only have to pay brokerage to buy or sell ETF gold. Also, most of the profits in physical gold go to making charges and this can only be sold to jewelers.
1 gram to 4 kg of gold can be bought
A person can buy a bond of minimum 1 gram and maximum value of 4 kg in a financial year. However, the maximum purchase limit for the trust is 20 kg. One can buy 500 grams of gold bonds in a financial year. That means if you want to exit this bond you can exit after 5 years. According to the NSE, this sovereign gold bond can also be used as collateral when taking out a loan. Apart from this, these bonds can also be traded on the NSE.
Maturity period of 8 years remains The maturity period of the bond is 8 years. That is, you can cash it in after 5 years if needed. According to the NSE, this sovereign gold bond can also be used as collateral. Apart from this, these bonds also trade on the NSE. If there is any capital gain on the maturity of the gold bond, it is exempt.
Pure Gold is
Available The price of a gold ETF is transparent and uniform. It imitates the London Bullion Market Association, the global authority for precious metals. Also, physical gold can be offered by different sellers / jewelers at different prices. Gold purchased from Gold ETF guarantees 99.5% purity, which is the highest level of purity. The price of gold taken by a person will be based on this purity.
Making Charge Feels Less Brokerage
Buying a gold ETF costs 0.5% or less brokerage and paying a 1% charge per year to manage the portfolio. This is nothing compared to the 8% to 30% charge that the jeweler and the bank have to pay. Traders only have to pay brokerage to buy or sell ETF gold. Also, most of the profits in physical gold go to making charges and this can only be sold to jewelers.
Buying Gold ETF Easy
To buy Gold ETF you have to open a demat account through your broker. In this the person can buy units of Gold ETF available on NSE and the same amount will be deducted from the bank account linked to the person's demat account. Gold ETF is credited to the person's account two days after placing the order in the person's demat account.
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What is a Sovereign Gold Bond?
Sovereign gold bonds are government bonds. It can be converted to Demat form. It is valued not in rupees or dollars, but in the weight of gold. If the bond is five grams of gold, the value of the bond will be the same as the value of five grams of gold. To buy it, you have to pay the issue price to an authorized broker of SEBI. The bonds are issued by the Reserve Bank of India (RBI).
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