*Representational Picture Courtesy- btvin.com
On the Hindus' auspicious occasion of Akshay Tritya,the Post Office has started the sale of the first tranche of the Sovereign Gold Bonds 2017-18 - Series I.
"This is available in all 13 central Post offices in Jharkhand.The sale is slated to continue till April 28,2017. As per its provision,the minimum investment can be on one gram and maximum on 500 grams per person.The investor will get 2.5 percent interest over it.
The Bond will get fixed for eight years.However,on the fifth,sixth and seventh year,the investment can be withdrawan.Moreover,the Bond owner will have the privilege to draw loan from the bank and can be nominated as well.
The nominal value of the bond based on the simple average closing price published by the India Bullion and Jewellers Association Ltd (IBJA) for gold of 999 purity of the week preceding the subscription period, i.e. April 17-21, 2017 works out to Rs 2,951 per gram.