{"id":1284048,"date":"2024-08-05T10:06:42","date_gmt":"2024-08-05T04:36:42","guid":{"rendered":"https:\/\/trak.in\/stories\/?p=1284048"},"modified":"2024-08-05T10:07:02","modified_gmt":"2024-08-05T04:37:02","slug":"12-assured-returns-on-sovereign-gold-bonds-promised-by-govt","status":"publish","type":"post","link":"https:\/\/trak.in\/stories\/12-assured-returns-on-sovereign-gold-bonds-promised-by-govt\/","title":{"rendered":"12% Assured Returns On Sovereign Gold Bonds Promised By Govt"},"content":{"rendered":"\n

Revenue Secretary Sanjay Malhotra announced recently that the sovereign gold bonds will get at least 12 percent total return, including interest, for the investors despite the Union budget cutting customs duties on gold and silver to 6 percent from 15 percent.<\/p>\n\n\n\n

\"12%<\/figure>\n\n\n\n

Government Guarantees At Least 12% Total Return on Sovereign Gold Bonds Despite Lowered Gold Import Duties<\/strong><\/p>\n\n\n\n

At the post-Budget session at the PHD Chamber of Commerce and Industry, he said that \u201cI want to assure that despite the rate reduction in gold import duty, the sovereign gold bonds nearing final redemption will still get at least 12 percent total return, if not 12.7-12.8 percent. Even 12 percent return is not low\u201d.<\/p>\n\n\n\n

A senior government official said that till now, the investors have received approximately 9-11 percent return per annum and on top of that an interest of 2.5 %.<\/p>\n\n\n\n

In the month of July 2022, due to the prevailing circumstances, the import duty on gold was increased including a worsening current account deficit (CAD) at that time as a measure to curb imports.<\/p>\n\n\n\n

\u201cWe are now in a comfortable position in the current account deficit,\u201d he said.<\/p>\n\n\n\n

Sovereign Gold Bonds 2016-17 Series 1 Set for Redemption in August 2024: Key Details and Future Outlook<\/strong><\/p>\n\n\n\n

With the redemption expected in the first week of August 2024, the Investors in the Sovereign Gold Bond (SGB) scheme 2016-17 – Series 1, which was issued in August 2016, are approaching the end of their bond’s term. Offering an annual interest rate of 2.75%, the initial price of the bond was Rs 3,119 per bond. It shall be on the basis of the average closing price of gold over the three days before redemption, that the redemption value will depend. <\/p>\n\n\n\n

As of today, the SGB scheme offers an interest rate of 2.5% per year, paid semi-annually. The government has not issued new SGBs since February and may reduce or end the scheme due to high costs.<\/p>\n","protected":false},"excerpt":{"rendered":"

Revenue Secretary Sanjay Malhotra announced recently that the sovereign gold bonds will get at least 12 percent total return, including interest, for the investors despite the Union budget cutting customs duties on gold and silver to 6 percent from 15 percent. Government Guarantees At Least 12% Total Return on Sovereign Gold Bonds Despite Lowered Gold […]<\/p>\n","protected":false},"author":26,"featured_media":1284053,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[5803],"class_list":["post-1284048","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized","tag-sovereign-gold-bond"],"acf":[],"yoast_head":"\n12% Assured Returns On Sovereign Gold Bonds Promised By Govt - Trak.in - Indian Business of Tech, Mobile & Startups<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/trak.in\/stories\/12-assured-returns-on-sovereign-gold-bonds-promised-by-govt\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"12% Assured Returns On Sovereign Gold Bonds Promised By Govt - Trak.in - Indian Business of Tech, Mobile & Startups\" \/>\n<meta property=\"og:description\" content=\"Revenue Secretary Sanjay Malhotra announced recently that the sovereign gold bonds will get at least 12 percent total return, including interest, for the investors despite the Union budget cutting customs duties on gold and silver to 6 percent from 15 percent. 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