Secondary market means the bond markets where bonds are traded like stocks. I think you can do it on any stock broker app or website. Not sure though. Never bought a stock or bond directly. Don't have a demat account. Will get one when it's time for me to get SGB. For now I need MFs
Online also they price gold 8-9% higher. Making charges + margins. The online price is inclusive of it. This 8-9% you won't get back when you sell your gold
After some self research I found out that we have to take min 15% loss if ee buy and sell immediately. So not worth it. Here is the breakup
8-9% making charges
3% GST
3% lower buyback price if you want cash. Jewelers offer buyback at 100% of base gold price only if you exchange it
And not...
Don't you have to pay taxes on earnings from selling vouchers? And how do you explain to Income Tax Dept if you get a notice? Is it even legal to sell voucher that was issued to you?
Sorry if you buy new issue directly online then you get Rs 50 discount per gram. That's 1% discount
But in the secondary market the SGBs trade at 10% lower prices
You take a 15% loss on physical gold if you want to sell immediately.
If you plan to hold you are taking a 25%(15+10) loss and 2.5% every year. Cause if you buy SGBs trade at 10% discount and 2.5% fixed income on the issuing price.
The Spendz card offers 1% cashback on all payments. Does it include wallet load and credit card bill payment as well?
And on website it says there is no minimum transaction limit. But is the cashback rounded up or is fractional cashback also given?