Gold Monetization Scheme (GMS)
option in fifth, sixth and seventh year of completion. Advantages
gold gets converted into paper gold. gold at the time of maturity; they may also earn periodical interest.
charges or purity of gold.
This new gold scheme is a modification of the existing Gold Deposit Scheme (GDS) and Gold Metal Loan Scheme (GML), and has replaced the Gold Deposit Scheme of 1999. The scheme is designed to help you earn interest on your unused gold lying idle in bank lockers. The Gold Monetization Scheme is basically a new deposit tool to ensure mobilisation of gold possessed by various families and institutions in India. It is expected to turn gold into a productive asset in India. Salient features and advantages for a short term (1 to 3 years), a medium term (5 to 7 years), or the long term (12 to 15 years). agencies including banks, post offices and registered jewellers, and take advantage of the price escalation of gold as well as earn interest on the deposit. long-term. Interestingly, at the time of redemption people can get the actual value of gold for longterm deposits; physical gold can be obtained if it is a short-term deposit.
to 1.00 per cent per annum.
term and 2.50 per cent for long term.