SBI Sovereign Gold Bonds: If you are a client of State Bank of India (SBI) and want to invest in Gold Sovereign Bonds, SBI offers clients the option to invest in Gold Sovereign Bonds. Interested clients can invest in bonds by logging into SBI’s official website at onlinesbi.com under e-services.
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The country’s largest banks tweeted from its official Twitter account about the reasons for investing in gold sovereign bonds. The tweet reads: “Planning to invest in gold? Here are 6 golden reasons to invest in gold sovereign bonds. SBI clients can invest in these bonds on http://onlinesbi.com under e-services. ”
Are you planning to invest in gold?
Here are 6 good reasons to invest in gold sovereign bonds.
SBI clients can invest in these bonds on https://t.co/YMhpMwjHKp under e-services.
– State Bank of India (@TheOfficialSBI) May 31, 2021
Interested customers should note that the issuance period is between May 31, 2021 and June 4, 2021. There will also be a special reduction of Rs 50 per gram on online applications. The SBI also cited “golden” reasons for investing in gold sovereign bonds. They are as follows:
1) The investment ensures a return of 2.50 percent per annum payable semi-annually
2) It is secure and there is no storage hassle like physical gold
3) Liquidity is tradable on the stock exchange
4) There is no GST and fees unlike physical gold
5) It can also be used as collateral for loans
6) There is no capital gains tax on redemption
The Sovereign Gold Bond Scheme was launched by the government in November 2015, as part of the Gold Monetization Scheme. Under this program, issues are open for subscription in installments by RBI in consultation with the Indian government. The Reserve Bank of India (RBI) from time to time notifies the terms and conditions of the program.
It should be noted that according to the instructions of the RBI, “Each request must be accompanied by the ‘PAN number’ issued by the income tax service to the investor (s)” because the PAN number of the first / only applicant is mandatory .
For more details, interested SBI clients are requested to connect to the official website at onlinesbi.com.