1 unit 6,076 to redeem the gold bond before maturity

The Reserve Bank has set a price of Rs 6,076 per unit for early redemption of central government gold bonds maturing on November 20.

Gold Bond

Now if early redemption of gold bond will give good profit

Now whether early redemption of gold bond will give good profit, yes RBI has now issued a notification according to which Also, this price has been fixed with the average price of gold on November 15, 16, 17.

The central government announced the Gold Savings Bond Scheme in November 2015 as part of a move to reduce gold imports.

In this, gold can be stored in document form. One gram of gold is given as one unit.

Investors who wish to redeem their gold bonds early can do so by submitting a redemption request to their issuing bank or branch. The redemption proceeds will be credited to the investor's account within two working days.

The RBI has also announced that the redemption price for central government gold bonds maturing on the 20th of November 2023 will be Rs 5,847 per unit if the bonds are redeemed on or after the 5th anniversary of their issue date.

Savings Bond

A minimum investment of one gram can be made in this scheme. Individuals can invest up to a maximum of 4 kg and trusts can invest up to 20 kg.

The Ministry of Finance has announced that a discount of Rs 50 per 1 gram will be given for online or electronic investments.

Thus, buyers of gold savings bonds will get a discount of Rs 50 per 1 gram in electronic transactions including credit and debit cards.

Gold Savings Bonds will be sold at Banks, Stock Holding Corporation, Mumbai and National Stock Exchanges, Head Post Offices.

The investment in these savings bonds will pay an interest rate of 2.5 percent per annum, every six months.

Cash transaction

Investors can invest in and withdraw these gold bonds through cash transfer.

The Reserve Bank is issuing these bonds on the direction of the central government.

Early withdrawal of investment is allowed after five years from the date of issue of gold bonds.

For more information on the early redemption of central government gold bonds, please visit the RBI's website.

Comments

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