PM Modi launched three main new gold schemes on 5th' November 2015 Namely the Gold Monetization Scheme(GMS), Gold Sovereign Bond scheme, Gold Coin and Gold Bullion scheme. Now the priority arises to discuss as to what these new gold schemes has to offer as highlighted key benefits or in general for the people of India.
Let us first focus on top features of Gold Monetization Scheme or GMS:
1. Very simply you can invest your gold for your chosen period and if you like, encash it along with interest.
2. GMS offers higher interest than the existing bank gold schemes. For details, please read exclusive benefits of Gold Monetization Scheme.
3. During investment, customer's golds are undergone through a fire assay melting test at the Collections and Purity Testing Center (CPTC) certified by Bureau of Indian Standards (BIS) to determine the purity.
4. After purity confirmation and BIS hallmark, customer is issued a certificate mentioning his invested amount of gold in equivalence of 995 purity , tenure and rate of interest of 2.25% to 2.5% that apply to his preferred tenure.
Now coming to Key beneficial features of Gold Coin and Gold bullion schemes:
5. You can exchange your amount of gold for gold coins.
6. You can also exchange your maturity interest and gold capital amount to get hold coins alternatively.
7. You can get specially printed gold coins in exchange of or buy which have national symbol 'Ashok Chakra' on one side and Mahatma Gandhi's image on the other.
8. Under the Gold sovereign bonds scheme, the key benefit is its even higher rate of interest of 2.75% per annum. The process of investing is the same as Gold GMS but the tenure and the gold amount differs.
9. The most vital key benefit of all the three Government Gold investing schemes is that these are all free from taxes of all types like wealth tax, capital gains tax and income tax on interests accrued. This can be also the best reason for Indian households selecting government gold schemes for investments.
10. India's new gold import or purchase amounts will definitely come down if the 20000 tonnes of golds lying idle in households can be used for the country's growth by virtue of Gold monetization, sovereign bond, coins and bullions schemes.
Let us first focus on top features of Gold Monetization Scheme or GMS:
1. Very simply you can invest your gold for your chosen period and if you like, encash it along with interest.
2. GMS offers higher interest than the existing bank gold schemes. For details, please read exclusive benefits of Gold Monetization Scheme.
3. During investment, customer's golds are undergone through a fire assay melting test at the Collections and Purity Testing Center (CPTC) certified by Bureau of Indian Standards (BIS) to determine the purity.
4. After purity confirmation and BIS hallmark, customer is issued a certificate mentioning his invested amount of gold in equivalence of 995 purity , tenure and rate of interest of 2.25% to 2.5% that apply to his preferred tenure.
Now coming to Key beneficial features of Gold Coin and Gold bullion schemes:
5. You can exchange your amount of gold for gold coins.
6. You can also exchange your maturity interest and gold capital amount to get hold coins alternatively.
7. You can get specially printed gold coins in exchange of or buy which have national symbol 'Ashok Chakra' on one side and Mahatma Gandhi's image on the other.
8. Under the Gold sovereign bonds scheme, the key benefit is its even higher rate of interest of 2.75% per annum. The process of investing is the same as Gold GMS but the tenure and the gold amount differs.
9. The most vital key benefit of all the three Government Gold investing schemes is that these are all free from taxes of all types like wealth tax, capital gains tax and income tax on interests accrued. This can be also the best reason for Indian households selecting government gold schemes for investments.
10. India's new gold import or purchase amounts will definitely come down if the 20000 tonnes of golds lying idle in households can be used for the country's growth by virtue of Gold monetization, sovereign bond, coins and bullions schemes.
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