PNB is giving opportunity to buy cheap gold from the market
If you are also planning to buy gold cheaply, then the country’s second largest government bank PNB (Punjab National Bank) is giving you this opportunity. Punjab National Bank has given information about this by tweeting.
- Last Updated:February 3, 2021, 5:48 AM IS
The Reserve Bank of India (RBI) has fixed the price of gold subscription at Rs 4,912 per gram. This is the eleventh of the Sovereign Gold Bond Scheme 2020-21 Series (Sovereign Gold Bond Scheme 2020-21 Series XI). The settlement date of these bonds is till 9 February 2021.
Also read: Indian Railways: Railways has resumed this facility for passengers, know who will benefit
PNB tweetedPunjab National Bank has given information about this by tweeting. The bank has said that investors can invest in gold till 5 February. Apart from this, you can make online payment to get a discount of 50 rupees.
Sovereign Gold Bond
Where can you buy gold bonds
To buy sovereign gold bonds, you must have a PAN card. Investors can also buy these bonds online. Apart from this, you can buy it from banks, Stock Holding Corporation of India Limited (SHCIL), select post offices and stock exchanges like NSE and BSE.
Benefits of buying gold bonds
>> 2.5 percent interest will be earned annually on gold bonds.
>> Investors also get the facility to buy at least 1 gram bond.
>> Investors also have the facility to take loans against gold bonds.
>> Both the capital and interest are guaranteed by the government (sovereign).
>> Individuals will not have to pay long term capital gains tax.
>> Gold bonds can be used as collaterals for taking loans.
>> Also, TDS is not deducted for investing in gold bonds.
The Reserve Bank said on Friday that the nominal value of the bond was fixed at Rs 4912. The bond price has been determined by the Indian Bullion and Jewelers Association Limited (IBJA) based on the average closing price of gold of 999 purity between January 27 and 29.
Also read: How cheap will gold become after import duty is reduced? Know this thing if you are ready to buy
How much can you buy gold?
In a Sovereign Gold Bond Scheme, a person can buy up to 400 grams of gold bonds in a financial year. At the same time, minimum investment is one gram. You can save tax by investing in this scheme. Bonds will be banned for sale to trustee individuals, HUFs, trusts, universities and charitable institutions.