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SGB Tranche 8: Do you know these 6 'golden reasons' to invest in Sovereign Gold Bond?
The Reserve Bank of India (RBI) informed that the issue price for Sovereign Gold Bond Scheme 2021-22 has been fixed at Rs 4,791 per gram of gold. The State Bank of India (SBI) has recently highlighted six golden reasons for investing in Sovereign Gold Bond.
Sovereign Gold Bond Series VIII: The Sovereign Gold Bond Scheme 2021-22 series VIII will open for subscription from today, November 29, 2021 and will continue till December 3, 2021. The Reserve Bank of India (RBI) informed that the issue price for Sovereign Gold Bond Scheme 2021-22 has been fixed at Rs 4,791 per gram of gold. The State Bank of India (SBI) has recently highlighted six golden reasons for investing in Sovereign Gold Bond. In case of query, the interested customers can login to the official website SBI at oninesbi.com.
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The SBI has recently tweeted from its official Twitter handle about the reasons for investing in Sovereign Gold Bond. The tweet said, "Planning to invest in Gold? Here are 6 golden reasons to invest in Sovereign Gold Bonds. SBI customers can invest in these bonds on http://onlinesbi.com under e-services. Know more: bank.sbi/web/personal-banking/investments-deposits/govt-schemes/gold-banking/sovereign-gold-bond-scheme-sgb."
Planning to invest in Gold?
Here are 6 golden reasons to invest in Sovereign Gold Bonds.
SBI customers can invest in these bonds on https://t.co/YMhpMwjHKp under e-services.
— State Bank of India (@TheOfficialSBI) November 28, 2021
According to SBI, the six golden reasons behind investing in Sovereign Gold Bond are as follows:
1) The investment assures returns of 2.50 per cent per annum payable half-yearly
2) It is secured and there are no storage hassles like physical gold
3) The liquidity is tradable on exchanges
4) There is no GST and making charges unlike in physical gold
5) It can be also used as collateral for loans
6) There is no Capital Gains Tax on redemption
It has to be noted that the RBI in consultation with the government has decided to offer a discount of Rs 50 per gram less than the nominal value to those investors applying online and the payment against the application is made through digital mode.
The people residing in India who are defined under Foreign Exchange Management Act, 1999 are eligible to invest in SGB. The eligible investors include individuals, HUFs, trusts, universities and charitable institutions. The individual investors with subsequent change in residential status from resident to non-resident may continue to hold SGB till early redemption/maturity.
In case of further details, the interested investors can login to the official website of SBI at onlinesbi.com.
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