Federal Bank today said it will distribute Sovereign Gold Bond Scheme as launched by the government.
"Federal Bank has joined the distribution of the bond and this product is offered through all its branches pan India. Facility to invest in the bonds online will also be launched shortly," the bank said in a statement.
The bonds will earn a fixed rate of 2.75 per cent per annum payable semi annually on the initial value of investment.
K A Babu, Retail Business Head, said: "The customers who invest in physical gold may find gold sovereign bond scheme an attractive investment option as in addition to the investment earning an interest, the investor need not worry about the safety and quality of gold since this is in paper/ dematerialised form.
"Bank is happy to join the initiative from the day one of the scheme", he added.
