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Do we get Tata Neu coins for gold purchase via Tata Cliq?
- Thread starter kunaljn91
- Start date
- Replies 17
- Views 4K
rjsudeep
TF Premier
Can't confirm, but I feel it should work till they plug it. Like Akshay mentioned, no specific TnCs. So maybe try for a small amount and hope for the best!
Arpit Kumar Wadhwa
TF Buzz
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.
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.
Last edited:
How do you buy SGB at 10% discount?
Arpit Kumar Wadhwa
TF Buzz
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
Where is secondary market? How to buy it?
Arpit Kumar Wadhwa
TF Buzz
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
Does the calculation still work out in one's favour since apparently there will be a 10% discount?
Only if you hold till maturity I suppose.
And the series which is available for 10% discount in secondary market will be atleast 4-5 years away from maturity.
Dhruvkumar
TF Buzz
You can raise issue since as of now Tata neu app shows on product page that you'll get NEU coins. I know it's going to plugged sooner rather than later but what's harm in asking.
Firstly,
Sgb trades lower coz their issue price is lower and interest is paid on issue price. Interest is taxable CG is taxfree if held till maturity.
Similar concept like to bond market interest rate risk.
Sonetimes we do get it at grabbing prices but its rare.
Sgb can be bought on zerodha, its tax free if held till maturity irrespective you buy from primary or secondary market.
Second, there are schemes like GMS by govt of india where u can melt the gold you bought and rbi will give you a bond certificate and ull get 2.5 percent taxfree interest and no CG if held till maturity.
U need to approach designated bank branches and then Mmtc will melt your gold, and it will be deposited with rbi.
Hope this helps!
Is this for coin or jewels?
Dhruvkumar
TF Buzz
Saying SGB trades lower is not true. I don't see any SGB which trading significantly lower than gold price now however in past I have seen some.
Also you'll get more intrest than 2.5% if you buy SGB which was issued when gold price was higher than current market price.
You can also find trusted goldsmith who'll pay you more interest for your gold but there won't be any contract.
niket
TF Buzz
Product: https://www.tatacliq.com/joyalukkas-flower-24k-999-10gm-gold-bar/p-mp000000003699575
offer:
t&c: https://www.tatacliq.com/hdfc-neu-card-tnc
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Has anyone tried this?
offer:
t&c: https://www.tatacliq.com/hdfc-neu-card-tnc
--
Has anyone tried this?
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