Modi government’s scheme to give cheaper gold from market opens, apply by 10 July

• Sovereign Gold Bond Scheme open for investment
• It involves investing in gold at a cheaper rate than the market

If you want to invest in gold at a cheap rate, then the Sovereign Gold Scheme of Modi government has come again for you. The scheme started from Monday i.e. July 6 and it can be applied till July 10. Let’s know its main things.

Significantly, in view of the Corona crisis in the world, gold is being considered the safest tool for investment these days. This is the fourth installment of the Government’s Sovereign Gold Bond (2020-21). The Reserve Bank of India announced in April that the government would release the scheme in six installments from April 2020 to September. That is, every month till September you will get an opportunity to invest in gold in the form of digital bonds.

Cheaper than market price

Under the Sovereign Gold Scheme, the price of gold has been fixed at Rs 4,852 per gram. It is much cheaper than the market price. Currently, the price of gold in the market is running between 48283 to 49,000 rupees. Not only this, under this, those investors will get a rebate of Rs 50 per gram, who will apply online and make payments through digital medium. That is, the bond price for such investors will be Rs 4,802 per gram. So you can invest in 10 grams of gold for about Rs 48,000. After the investment application, the bond will be issued to you on 14 July. Under this, an interest of 2.5 percent will also be given annually.

Under this scheme, you can buy gold in the form of bonds. For this, you can apply by going to the bank, designated post office, stock holding corporation of India, NSE and BSE.

The duration of this bond is eight years old. There is an option to exit on the date of interest payment after the fifth year. An investor can invest in at least one gram and at most four kg of gold.