look news india
If someone tells you to buy gold without worrying about its safety, you can earn more profits than gold, then you might not be sure. But this is absolutely true. And those who showed confidence in a special scheme of Reserve Bank of India (RBI) 4 years ago, today they have become silver.
The RBI has recently started releasing the Sovereign Gold Bond (SGB) series and the returns that investors have received are not less than a lottery.
What is the whole matter?
In the year 2020, RBI took out a gold bond named ‘SGB 2020-21 Series X’. In easy language, the government was giving money from people and giving ‘paper gold’ of the same price. Many people invested in it. Now, after 4 years, RBI is buying those bonds back and returning investors’ money with interest and profit.
How did investors get double benefit?
The most special thing about this scheme was its ‘double benefit’. Let’s understand how:
1. Advantage of rising gold prices:
- When people bought this bond in February 2021, they had to pay at the rate of ₹ 4,912 per gram.
- Now that RBI is buying it back, the price has been fixed at ₹ 7,114 per gram.
That is, a profit of ₹ 2,202 on a gram directly! If someone had invested 10 grams (ie about ₹ 49,120), then only by increasing the price of gold, he got the benefit of ₹ 22,020.
2. Found interest sitting:
This is the largest plus point of this scheme. You also get a fixed interest of 2.5% annually on your investment, which is deposited in your bank account every 6 months. This is the benefit that never gets to keep gold at home. That is, apart from the benefits received when the price increases, interest is also available from above.
There is no concern about tax either!
And the icing on gold is that if you keep SGB for full 8 years, then you do not have to pay even one rupee tax on its profit. Tax rules are also very beneficial on this tremendous return received in 4 years.
This news is a lesson for all those who think that investing is a very difficult task. Government schemes like Sovereign Gold Bond not only protect your money, but also give the best returns to inflation, which is difficult to meet elsewhere without the risk of the stock market.
