On the initiative of Reserve Bank of India (RBI), SBI is going to launch a special scheme of bonds for the general public on October 15. Any citizen of the country can participate in this scheme. Special bonds will be released under this scheme. On investing in these bonds, the investor will get interest at 2.5% rate. Investor will get capital gains tax exemption. However, income from the investment will be taxable under the Income Tax Act. So what should the scheme ...
What is the scheme - SBI has said through its Twitter handle that investors have a good chance of investing in gold gold bonds. Announcement of bonds every month from 15 October 2018 to February 2019 In the first phase, the investor will be able to subscribe the bond between October 15 and October 19. However, these bonds will be announced from October 23.
What is the cost of bonds - The average price of 99.9% pure Gold will be equal to three days fixed by the Indian Bulletin and Jewelers Association. However, customers who subscribe to online bonds and pay by digital mode will be given a discount of Rs. 50 per song.
When money can be withdrawn - this bond can be purchased by the bank, Stock Holding Corporation of India Limited, except for the post office fixed by the stock exchanges. This bond will be maturity after 8 years. It is clear that after eight years, you can get the money out of this. However, the investor may exceed the bond in the fifth, sixth and seventh years.
How to buy - In order to buy a bond, the investor can make a demand draft, check or online payment. In addition to this, case payment will also be available, but in such a situation, it will be able to buy a maximum bond of Rs 20000.
Any indigenous, Hindu Undivided Family, Trust, Universities and Charitable organizations of the country can buy these bonds. The investment can buy bonds at least 1 gram or its multiplier.
Individual 500 grams and Hindu Undivided Families can buy bonds up to a maximum of 4 kilograms of gold per year. But the organizations are allowed to purchase bonds worth 20 kilograms.
