CreditMantri Finserve Private Limited
Door No.3, Block B, No. 147, Workeasy Space Solutions, RK Swamy Centre, Hansa Building, Pathari Road,Thousand Lights, Chennai, Tamil Nadu600006
Have any queries? Click here for more details
All written queries will be responded within 1 working day.
We'd love to help you through every step along the way.
Is your Credit Score >750?
Sovereign gold bonds were introduced by the Government of India in 2015 under the Gold Monetization Scheme. The gold bonds are issued every month from October 2019 to March 2020. Under this scheme, the issues are offered in tranches by the Reserve Bank of India in consultation with the Government of India.
Sovereign Gold Bonds are the safest way to buy and store gold since it is "E-gold", no physical lockers are required to store it. Bonds are issued by Govt. of India, so it's also the safest way to hold gold. You also get an assured 2.50% p.a. interest every 6 months too.
About Tamilnad Mercantile Bank Gold Deposit Schemes
Some of the key features of sovereign gold bonds offered by Tamilnad Mercantile bank are as follows:
Benefits of Tamilnad Mercantile bank Sovereign gold bonds are as follows:
The following documents are required to be furnished by investors as proof of identity while applying for a Tamilnad Mercantile bank sovereign gold bond. Both, original as well as the photocopy of documents have to be presented at the time of loan application.
1. What is Sovereign Gold Bond and who issues these?
SGBs are government securities denominated in grams of gold. They are substitutes for holding physical gold. Investors have to pay the issue price in cash and the bonds will be redeemed in cash on maturity. The Bond is issued by the Reserve Bank on behalf of the Government of India.
2.Is there any risk associated with Sovereign Gold Bonds?
There may be a risk of capital loss if the market price of gold declines. However, the investor does not lose in terms of the units of gold which he has paid for.
3.When will I be issued a Holding Certificate?
Certificate of Holding is issued on the date of issuance of the SGB. Certificate of Holding can be collected from the issuing banks/SHCIL offices/Post Offices/Designated stock exchanges/agents or obtained directly from RBI on email if the email address is provided in the application form.
4.Is it possible to invest in Sovereign Gold Bonds in DEMAT account?
Yes, you can keep these bonds in DEMAT account.
5. Can I take a loan against Sovereign Gold Bonds?
Yes, you can take a loan by using these bonds as securities. These bonds can be used as collaterals at banks, financial institutions and other non-banking financial companies.
Tamilnad Mercantile bank offers sovereign gold bonds which are a convenient and reliable investment in gold. The bank offers various gold schemes that are customised to generate healthy returns on gold. Investors can buy the yellow metal directly from the bank.
Andhra Bank Gold Deposit Scheme
Axis Bank Gold Deposit Scheme
Bank Of Baroda Gold Deposit Scheme
Bank Of Maharashtra Gold Deposit Scheme
Canara Bank Gold Deposit Scheme
Central Bank Of India Gold Deposit Scheme
Federal Bank Gold Deposit Scheme
HDFC Bank Gold Deposit Scheme
ICICI Bank Gold Deposit Scheme
IDBI Bank Gold Deposit Scheme
Indian Overseas Bank Gold Deposit Scheme
IndusInd Bank Gold Deposit Scheme
Karnataka Bank Gold Deposit Scheme
Karur Vysya Bank Gold Deposit Scheme
Kotak Mahindra Bank Gold Deposit Scheme
Lakshmi Vilas Bank Gold Deposit Scheme
Punjab National Bank Gold Deposit Scheme
SBI Gold Deposit Scheme
South Indian Bank Gold Deposit Scheme
UCO Bank Gold Deposit Scheme
Vijaya Bank Gold Deposit Scheme
YES Bank Gold Deposit Scheme