Secure handling of gold
– Indians prefer to store their gold in storage lockers in banks and carry it out for wedding/family functions or sale it off. But they have to offer the bank a yearly price for the storage locker. Gold Monetization the scheme provides the gold protection not only by keeping it but also by delivering it as cash or physical gold
once the scheme reaches maturity.
2. Value of gold
– Not only you can have profit income by depositing the antique and unused gold in the Gold Monetization Scheme but you also have the right to cash the gold at maturity.
3. Deposit elasticity
– Under the Gold Monetization Scheme, you can store your gold in any manner. You could carry in bars or coins of gold and often jewelry. But in this scheme, gold jewelry
covered in precious stones cannot be stored.
4. Dynamic deposit amount
– In a Gold Monetization Scheme, the minimum value you can create is 30 grams of pure gold. There is no restriction to the top at all.
5. Realistic terms
– Under the Gold Monetization Scheme, 3 duration deposit plans are present.
: 1 to 3 years
: 5 to 7 years
: 12 to 15 years
6. Tax advantages
– You need not pay taxes on the profit earned by the Gold Monetization Scheme. Financial profits are also excluded from taxes on income and sales.
7. Examine of genuineness
– There have been over 330 Collection and Purity Testing Centres
throughout the country for examination and inspection of the authenticity of the deposited gold.
Did You Know? SEBI – means Securities and Exchange Board of India – Established in 1988 and given statutory powers on 12 April 1992 through SEBI Act 1992.