Special counters will be opened at post offices for sale of eight tranche of sovereign gold bonds of the Union government from April 24 to 28.
The gold bonds will be available at all post offices under central region, J.T.Venkateswarlu, Postmaster General, Central Region, Tiruchi, said in a press release. As the sale coincides with Akshaya Tritiya celebration, special counters will be opened.
Investors can buy the gold bonds for a minimum of one to 500 grams per financial year. The issue price of the bond is ₹2,901 per gram, after deduction of a discount of ₹50 per gram.
The scheme provides investors an easier option to buy gold as it does not require storage and helps in reducing the demand for physical gold.
The maturity value of the gold bond will be the price of the value of pure gold on the previous weeks fixed by the Indian Gold Merchants Association.
Investors will also get 2.5% of fixed interest per year that will be paid on a half-yearly basis.
The maturity period of the bonds will be fixed as eight years from the date of issue of bonds.
However, investors also have a choice of pre-mature redemption from the fifth year of the date of issue on the interest payment dates.
