how to earn from the gold in your home, learn about this SBI scheme

Do you have any gold jewelry or coins in the house? You can also earn from it. Depending on the improvement, it gives you a certificate of deposit on gold. Hence the use of gold in gold theft can choanathi are not afraid of the benefits of the latter will turn gold tagadu interest.

Who can add to this?

As per the information provided by the SBI website, anyone living in India can avail of this scheme. It has the option of opening both single and joint account. HUF and partnership firm can also invest in this.

If you withdraw the scheme, the penalty will be charged

 Withdrawal of rupees before a fixed time period of one year will result in penalty of interest. While the Medium Term Investment Scheme can be withdrawn from the Scheme after 3 years and the Long Term Scheme can be withdrawn from the Scheme after 5 years.

Which branch will get the benefit of the scheme?

The scheme will benefit from PBB Branch, SME Branch Chandni Chowk, Coimbatore Branch, Main Branch of Hyderabad in Delhi.

How many years will the deposit be?

Under this scheme, gold can be deposited for 1-3 years. SBI has named this scheme as Short Term Bank Deposit (STBD).

How much interest will you get?

STBD will get 0.50 percent interest for one year and 0.60 percent interest for three years. While 2.25 percent annual interest for long term, 2-5 percent interest on investment for 12-15 years.

Interest will be paid on passive gold

There is no interest on the gold kept in the locker, instead the rent of the locker has to be paid.

Increasing the price of gold will benefit
When the gold deposit scheme is ripe, whatever the price of gold at that time, it will matter, interest will be paid in the deposit but there will be no interest on the gold kept in the locker.

Tax exemption will be available

 If you have more gold than you earn, you have to pay tax on it, but tax is exempt under this scheme.

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