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Revamped Gold Deposit Scheme (R- GDS)

Revamped Gold Deposit Scheme (R- GDS) is in the nature of a fixed deposit in gold. The customers can deposit their idle gold under R- GDS which will provide them safety, interest earnings and a lot more.

Main Features of the Scheme:

Purpose

  • To mobilize the idle gold in the country and put it into productive use.

  • To provide the customers an opportunity to earn interest income on their idle gold holdings.

Persons Eligible to make a deposit

Types of deposit

  • Resident Indians of the following categories:

  • Individuals, singly or jointly (as Former or Survivor)

  • Proprietorship & Partnership firms.

  • HUFs

  • Trusts including Mutual Funds/Exchange Traded Funds registered under SEBI (Mutual Fund) Regulations

  • Companies

  • (i) Short Term Bank Deposit (STBD): Tenure 1 to 3 years

  • (ii) Medium Term Government Deposit (MTGD): Tenure: 5-7 years. The deposit will be accepted by the Bank on behalf of the Central Government.

  • (iii) Long Term Government Deposit (LTGD): Tenure 12-15 years. The deposit will be accepted by the Bank on behalf of the Central Government.

Types of deposit

  • Minimum: 30 gms (gross)

  • Maximum: No Limit