This is how gold will give double profit after 8 years
This year, due to ‘Purushottam Maas’, the festival of Diwali is knocking a little later than usual. But there is a saying that better late than never, so this time the happiness of Diwali is going to last till the end of November. Especially for those who invest in Sovereign Gold Bond (SGB). No…No…RBI is not going to complete any installment of Gold Bond, but this year you are going to get more than double the profit because of Gold Bond. Let us tell you how?
The Reserve Bank of India (RBI) had issued the first gold bond in the country in the year 2015. The maturity period of gold bond is 8 years. In such a situation, those who had bought gold bonds at that time, are going to get the maturity amount this year. These bonds are maturing on 30 November 2023.
There will be 130% profit on investment of Rs 2700
When the first gold bond was issued in the country, its price was Rs 2,684 per gram. Those who bought bonds digitally got it cheaper by Rs 50. According to the guidelines of Sovereign Gold Bond Scheme, the return on its maturity is given according to the current gold price. Also, interest of 2.5 percent every year is added separately. In this way it gives you double benefit.
See also: Know the price of gold on Dhanteras from Tanishq to Kalyan Jewellers.
RBI has not yet announced the maturity price of 2015 series gold bonds. But recently it had released the pre-maturity price of gold bonds of 2017-18 series. It has been kept at Rs 6,116. In such a situation, if the maturity price of the country’s first gold bond remains Rs 6,000, then investors will not only get double the price but will also get the benefit of interest. This total profit will be around 130%. At the same time, Gold Bond has also been exempted from GST, so it also helps you save tax.
Diwali may increase maturity amount
RBI will decide the maturity amount of the bond only on the basis of the average market price of gold. In such a situation, due to increase in demand during Diwali season, gold prices are expected to remain high in the market. Therefore the maturity price of the bond may also remain higher.
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