Category: Gold News, News

Sale of Sovereign Gold Bond through post offices in Tiruchi Division

The Department of Posts has announced the sale of Sovereign Gold Bonds from February 12 at the Tiruchi Head Post Office, Lalgudi Head Post Office, and 99 sub post offices under the Tiruchi Postal Division.

Through this scheme, investors can buy gold bond from one gram to 4 kg in a financial year. The investment tenure is eight years. At the end of the eighth year, the maturity amount equal to the value of gold on that day will be credited to the bank account. If necessary, premature closure of the bond could be made after completion of five years. The scheme has been announced from February 12 to 16. 

Interest of 2.5% is calculated by the Reserve Bank of India on the investments made through this scheme and will be credited to the investor’s account for every six months. This is the additional income available to the gold bond investors. The RBI has fixed the price as ₹6,263 per gram. Investment could be made at all post offices under the Tiruchi Postal Division.

Documents required to invest in this scheme are photocopies of PAN card, Aadhaar card, post office or bank savings passbook first page. Original required for verification. The Postal Department, in a press release here, appealed to the public to take advantage of this opportunity for investment.

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