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SBI ALERT! GOLDEN REASONS for investing in Sovereign Gold Bonds? - check full details here

Zee Business logo Zee Business 31-05-2021 zeebizindia@gmail.com (Zee Business)
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SBI Sovereign Gold Bonds: If you are a State Bank of India (SBI) customer and interested in investing in Sovereign Gold Bonds then SBI provides an opportunity for the customers to invest on the Sovereign Gold Bonds. The interested customers can invest on the bonds by logging in to the official SBI website at onlinesbi.com under e-services. 

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The country's largest banks have tweeted from its official Twitter handle on the reasons to invest on the Sovereign Gold Bonds. The tweet reads, "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." 

 

The interested customers must note that the issue period is between May 31, 2021, and June 4, 2021. There will also be a special discount of Rs 50 per gram on online applications. The SBI has also cited the 'golden' reasons for investing on the Sovereign Gold Bonds. They 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 

Sovereign Gold Bond Scheme was launched by the government in November 2015, under Gold Monetisation Scheme. Under the scheme, the issues are made open for subscription in tranches by RBI in consultation with the government of India. The Reserve Bank of India (RBI) notifies the terms and conditions for the scheme from time to time. 

One must note that as per the RBI's instructions, “Every application must be accompanied by the ‘PAN Number’ issued by the Income Tax Department to the investor(s)’’ as the PAN number of the first/ sole applicant is mandatory.

For further details, the interested SBI customers are requested to login to the official website at onlinesbi.com. 

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