The opportunity to buy gold at cheap rates has opened from today. If you also want to buy gold at cheap rates, then you can invest money in Sovereign Gold Bonds. From today i.e. February 28, investment in sovereign gold bonds is open and money can be invested here till March 4. Sovereign Gold Bond is issued by the Reserve Bank of India. RBI has fixed its price at Rs 5,109 per gram. RBI said that the subscription of Sovereign Gold Bond Scheme 2021-22 Series X is going to open from February 28.
Online investors will get discount
The Government of India, in consultation with the Reserve Bank, has decided to give a discount of Rs 50 per gram less than the nominal value to the investors applying online. “The issue price of the gold bond for such investors will be Rs 5,059 per gram,” the RBI said. Explain that the issue price of Series IX, which was open for subscription during January 10-14, was Rs 4,786 per gram of gold.
How to invest
The Finance Ministry said that this bond will be issued to banks (except small finance banks and payment banks), Stock Holding Corporation of India Limited (SHCIL), Clearing Corporation of India Limited (CCIL), post offices and recognized stock exchanges (NSE and BSE).
How much can you invest
In Sovereign Gold Bond, you will have minimum possible investment of 1 gram of gold. The ministry said that the investors would be paid a fixed rate of 2.5 per cent per annum on the face value. The maximum investment limit per year in Sovereign Gold Bond will be 4 kg for individual and HUF, 20 kg for trust and other such entities.