Mysore/Mysuru: The Postal Department has introduced Sovereign Gold Bond Scheme for the year 2021-22, in which the members of the public can invest at their nearby Post Office from Feb. 28 till Mar. 4.

The minimum investment is one gram of gold and individuals and Hindu undivided families can invest up to 4 kgs, while Trusts and such other bodies can invest up to 20 kgs in a financial year.

The Bond period is 8 years and after the expiry of the Bond period, the Post Office will return the money for the invested quantity of gold as per the market rate that prevails then.

An annual fixed interest of 2.5 percent will also be paid on the investment. The Bond tenure is for 8 years with an exit option after 5th, 6th or 7th year.

On maturity, an amount equivalent to the market price of gold is given. The Scheme can be used as collateral for loans.

For details, public can visit their nearest Post Office or call Ph: 0821-2417308 or 2417307 or Mob: 98451-07947, according to a press release from the Senior Postal Superintendent,                            Mysuru Division.