Sovereign Gold Bond Series VIII: The Sovereign Gold Bond Scheme 2021-22 series VIII will open for subscription from today, November 29, 2021 and will continue till December 3, 2021. The Reserve Bank of India (RBI) informed that the issue price for Sovereign Gold Bond Scheme 2021-22 has been fixed at Rs 4,791 per gram of gold. The State Bank of India (SBI) has recently highlighted six golden reasons for investing in Sovereign Gold Bond. In case of query, the interested customers can login to the official website SBI at oninesbi.com.

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According to SBI, the six golden reasons behind investing in Sovereign Gold Bond are as follows:

1) The investment assures returns of 2.50 per cent per annum payable half-yearly

2) It is secured and there are no storage hassles like physical gold

3) The liquidity is tradable on exchanges

4) There is no GST and making charges unlike in physical gold

5) It can be also used as collateral for loans

6) There is no Capital Gains Tax on redemption

It has to be noted that the RBI in consultation with the government has decided to offer a discount of Rs 50 per gram less than the nominal value to those investors applying online and the payment against the application is made through digital mode.

The people residing in India who are defined under Foreign Exchange Management Act, 1999 are eligible to invest in SGB. The eligible investors include individuals, HUFs, trusts, universities and charitable institutions. The individual investors with subsequent change in residential status from resident to non-resident may continue to hold SGB till early redemption/maturity.

In case of further details, the interested investors can login to the official website of SBI at onlinesbi.com.