If you too are planning to invest in physical gold, here are a few essential things that you should know-
- What Should You Select- Gold Jewellery or Gold Coins and Bars? The first thing you should know about is how to invest in gold. From an investment point of view, physical gold in the form of gold coins and gold bars prove to be a better choice. With gold jewellery, you are required to pay high making charges. You are not required to pay such charges when you buy gold coins and bars. Just make sure that you purchase gold from a reliable source to ensure safety and quality.
- Where to Store Your Physical Gold? You’d mostly not keep something as expensive as gold at your home. To ensure complete safety of your gold investment in India, you will have to use the locker service of your bank. For using this service, you will be required to pay an annual fee to your bank. But know that even banks do not take the responsibility of things you keep in your locker.
- Are There Options Other Than Physical Gold? Due to security reasons, a lot of people wanting to invest in gold now prefer digital gold investment plan. For instance, there are now Gold ETFs which track the price of physical gold. You can also find Gold Fund of Funds which tracks the price of Gold ETFs and other gold-related assets. Such schemes allow you to invest in gold and benefit from the increase in price without purchasing physical gold.
- What are the Benefits of Investing in Gold Funds? Apart from eliminating the need for you to purchase physical gold and spend money on its security, there are other benefits of gold investment done through gold funds. For instance, many AMCs offering such funds have SIP facility. Moreover, you can also redeem your investment anytime you like.
Physical Gold or Gold Fund?If you compare physical gold and digital gold, you will see that the latter proves to be a better investment option. It eliminates the need for you to worry about the safety of your gold and enables you to invest with just Rs. 1,000 per month. Evaluate the advantages of both the options to make a smart decision.
The information contained herein is generic in nature and is meant for educational purposes only. Nothing here is to be construed as an investment or financial or taxation advice nor to be considered as an invitation or solicitation or advertisement for any financial product. Readers are advised to exercise discretion and should seek independent professional advice prior to making any investment decision in relation to any financial product. Aditya Birla Capital Group is not liable for any decision arising out of the use of this information.
Tuition fee deduction under Section 80C of Income Tax Act
Educating a child can be an expensive proposition for most parents. As the cost of quality education is on the rise, the potential for saving money seems less likely. However, there are tax benefits that can be availed under the provisions of the Income Tax Act, 1961. Recurring expenses such as tuition fees is one such category that qualifies for tax relief, subject to certain terms and conditions.
6 Things you Should Know Before Buying Insurance Policy for Bike
Buying or renewing an insurance policy for your bike can often be overwhelming. Check out this short guide to know the factors you should consider while choosing the best insurance policy for your bike.
PPF Withdrawl: When & How to Withdraw PPF
PPF (Public Provident Fund) is a savings scheme, which is backed by the government on purpose to build a retirement corpus. As PPF is a long-term investment, it comes with a specified lock-in period. Read on to know about the maturity period and the withdrawal systems.
5 Types of Business Loan For Woman Entrepreneurs
There are now many different types of loans options in India for women wanting to explore their entrepreneurial dreams. Read this post to know 5 of the most popular options.