Sovereign Gold Bond Scheme 2023 Date and price : The Sovereign Gold Bond (SGB) Scheme’s new tranche starts from today i.e. 6th March.
The Scheme is a government backed securities. A bond which is denominated in grams of gold (999 purity). It is the Reserve Bank of India (RBI) issues these bonds in behalf of the Central government.
Sovereign Gold Bond Scheme 2023 – Discount Rate per gram
The government after having a discussion with the RBI has come to a conclusion to permit a discount of Rs 50 per gram from the issue price to those subscribers who apply online and the payment is made via online mode.
For this type of subscribers the issue price of gold bond will be Rs 5561 per gram of gold.
The scheme are replacements for physical gold. The lowest price/ investment in the bond is one unit and the highest limit is 4 kg for a person. For trust and very similar companies that are notified by the government, let us inform you that the upper limit is 20 kg.
Sovereign Gold Bond Interest Rate
The Central Government of India pays 2.5 percent interest on an annual basis on the amount that is invested by the subscribers till maturity.
The Default maturity period of these Government Bond is 8 years. The government, although, permits the investors to leave or exit the Bond after the completion of five years, also with a few added conditions.
The interest amount is also created twice a year into the back amount of these Bonds scribers. The Interest earned is taxable as per the provisions of Income Tax Act of India, 1961.
