Facts About Gold Monetisation Scheme And Interest Rate

What is Gold Monetisation Scheme?

The Gold Monetisation Scheme is a good initiative started by the Government Of India. The aim of this scheme is to reduce the import of gold in the country. Everybody knows that there are tons of gold in India. The gold in the Residential places and Religious places is useless.

This scheme is for the productive purpose. It also helps to grow GDP of India.

The purpose of this scheme to provide the gold in Jewellery and Gems. It also helps in the development of the country. You can earn regular interest on the basis of the gold.Damaged jewelry helps you to earn interest.

Gold Monetisation scheme

The Bureau Of Indian Standards Checks will have to check the purity of Gold at Registered Hallmarking Center.

You must need to submit your KYC Documents to the banks and consents to smash the jewelry.

An investor must specify the option to return the gold. You must ensure the options cash or a Gold in the form.

Old Gold Monetization Scheme

Old gold monetization scheme has 1% interest Rate and only 20 Tons of gold used under this scheme.

The beneficiaries who want to get the benefit of this scheme must deposit the 500 gms Gold.

Key Points of New Gold Monetisation Scheme Interest Rate

  1. Minimum Gold 30gm
  2. The interest Rate of New Gold Monetisation Scheme is 2.5%

Benefits Of Gold Monetisation Scheme

There are many advantages of this scheme that you must need to know.I have explained one by one in brief.

  1. The government registers investors details according to Sovereign Gold Bond Scheme and give him a certificate. The investor can back his gold or money according to deposited gold.
  2. The government fixes the interest rates on Gold in accordance of the Gold Bond.
  3. You earn the interest rate on the purity of gold.

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