Postal Sovereign Gold Bond scheme

Indian Postal Department has now launched the seventh series of the Sovereign Gold Bond (SGB) Scheme 2020-21. This scheme is open from Oct. 12 to Oct. 20. Interested customers can visit the nearest post office to invest. The price is fixed at Rs. 5,051 per gram of gold. While one can apply for a minimum of 1 gram, individual or Hindu undivided family can invest up to 4 kg in each financial year. Trusts can invest up to 20 kg a year. The bond tenure is 8 years with exit option after 5th, 6th or 7th year. If one holds the bonds till maturity, they will get an amount equivalent to the market price of gold. These bonds can also be used as collateral for loans. For details, contact the nearest post office or call Ph: 0821-2417308/307.