Gold monetization deposits to get 2.25-2.5 % returns

The much awaited government’s schemes for monetisation of citizens’ gold holdings were launched by PM on Nov 5. The depositors will get a 2.25 per cent interest rate for medium-term deposits and 2.5 per cent for long-term ones. Principal and interest under the scheme will be denominated in gold. The tenure for short-term deposits will be one to three years, medium-term will be five to seven years and long-term tenure will be 12-15 years.....Read More