First series of 2015 gold bonds more than doubled investors

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MUMBAI: With the first series of Sovereign Gold Bonds (SGBs) issued in November 2015 now maturing after eight years, investors are sure to reap good returns as gold prices have more than doubled in the last eight years. .

The Reserve Bank had issued the first series of SGB at a price of Rs 2684 per gram in November 2015. However, the redemption price of these bonds maturing on November 30 has not yet been released.

Apart from the increase in the price of SGB, the investors will also get interest at the rate of 2.75 percent per annum.

According to an estimate, investors who invested Rs 1 lakh in the first series of SGB in 2015 are expected to get a return of Rs 2.30 lakh with compound interest of Rs 23000.

As part of reducing the current demand of gold in the country, the government has released the SGB scheme linked to the price of gold. However, despite the SGB, there has not been a significant drop in gold imports in the country.

In the first series of 2015, there was an income of Rs 245 crore in the government treasury from the investors. Only 6 percent of these investments were withdrawn before maturity.

The returns received by the investors on this investment are exempted from tax. However, interest income is taxable.

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