How can I buy RBI gold bond?
“The Sovereign Gold Bond Scheme 2021-22 – Series VIII which is open for subscription till December 03, 2021, is also available through RBI Retail Direct Portal at https://rbiretaildirect.org.in,” the Reserve Bank of India (RBI) said via a tweet on its official Twitter account.
What is sovereign gold bond scheme?
Sovereign gold bonds or SBGs are gold bonds issued by the Reserve Bank of India (RBI) on behalf of the Government of India. The gold in this bond is sold on a per unit basis such that every unit derives its value from underlying one gram gold with 999 purity.
What is SGB price today?
The Reserve Bank of India (RBI) informed in a statement that SGB price has been fixed at ₹4,786 per gram, ₹5 per gm lower from its previous tranche. Online subscribers will be given ₹50 per gm relaxation as issue price for those bidders who pay digitally while applying has been fixed at ₹4736 per gm.
Which banks sell sovereign gold bonds?
Many banks such as the State Bank of India and Kotak Mahindra Bank offer the provision of applying for bonds online. Every applicant must provide their PAN number issued by the Income Tax Department. Without a PAN, one cannot apply for investing in gold bonds.
Is gold bonds tax free?
The interest on Sovereign Gold Bonds is taxable as per the provisions of the IT Act, 1961. In the case of SGB redemption, the capital gains tax applicable to an individual is exempted.
Can I sell gold bond anytime?
Is premature redemption allowed? Though the tenor of the bond is 8 years, early encashment/redemption of the bond is allowed after fifth year from the date of issue on coupon payment dates. The bond will be tradable on Exchanges, if held in demat form. It can also be transferred to any other eligible investor.
Are gold bonds safe?
SGBs are government securities and are considered safe. Their value is denominated in multiples of grams of gold. SGBs have witnessed a significant increase in investors, with it being considered a substitute for physical gold.