SGB: Under the new scheme of the central bank, retail investors will have the facility to open an online RDG account. These accounts can be linked to the savings accounts of the investors.
Today is the last chance to invest in Sovereign Gold Bond
Today is the last chance to buy cheap gold. Today is the last day to invest in the eighth installment of Sovereign Gold Bond Scheme 2021-22. The purchase of Sovereign Gold Bonds can also be done through the recently launched portal of Reserve Bank of India (RBI). Till now, gold bonds were sold only through all commercial banks, Stock Holding Corporation of India Limited (SHCIL), designated post offices and recognized stock exchanges. But the RBI portal has also become a new option for buyers.
The offer for sale of Sovereign Gold Bond Scheme 2021-22- Series-8 is still open and can be purchased by visiting its new portal ‘RBI retaildirect.org.in’ (https://rbiretaildirect.org.in). Prime Minister Narendra Modi inaugurated this new portal last month. By visiting this portal, one can directly purchase Treasury Bills, Securities, Sovereign Gold Bonds and State Development Debt.
Retail investment can open RDG account
Under the new scheme of the central bank, retail investors will have the facility to open RDG account online. These accounts can be linked to the savings accounts of the investors. The Retail Direct Gilt Account (RDG) account can be used to be a part of the issuance process of Government securities and to participate in secondary market activities.
The Sovereign Gold Bond Scheme was launched in November 2015. The objective was to reduce the demand for physical gold and to channelize the portion of household savings used to buy gold into financial savings.
Rs.50 off on gold per gram
RBI will give a discount of Rs 50 per gram to investors who make online application and pay digitally. RBI has fixed the issue price for this installment at Rs 4,791 per gram. For investors making online and digital payments, the issue price will be Rs 4,741 per gram of gold.
The maximum amount an individual can pay while buying these bonds is up to Rs 20,000 for cash payment. One can choose to pay by demand draft or check or electronic banking.
Advantages of Gold Bond
Investors of Sovereign Gold Bonds will get interest at the rate of 2.5 per cent per annum. This interest will be available on half yearly basis. No capital gains tax will be levied on redemption. Can be used as collateral for loans.
Safe, no storage hassle like physical gold. Can trade on exchanges. Unlike physical gold, there is no GST and making charges.
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