The third tranche of the Sovereign Gold Bond (SGB) scheme 2023-24 Series III became available for subscription on December 18 and will continue to be available until tomorrow, December 22. The issue price for the latest lot of gold bonds has been set at Rs 6,199 per gram by the Reserve Bank of India (RBI).
Apart from safety concerns, the SGB scheme provides an excellent opportunity for people who are hesitant to purchase physical gold because investors are compensated at a fixed rate of 2.50 per cent per annum, payable semi-annually on the nominal value.
The Sovereign Gold Bonds will be sold via scheduled commercial banks (except small finance banks, payment banks, and regional rural banks), the Stock Holding Corporation of India Limited (SHCIL), designated post offices, the Clearing Corporation of India Limited (CCIL), the National Stock Exchange of India Limited, and the Bombay Stock Exchange Limited.
Check out how to buy Sovereign Gold Bonds (SGBs) online through banking platforms:
Step 1: First log in to your respective net banking account.
Step 2: From the main menu, select ‘e-Service’ and click on ‘Sovereign Gold Bond’.
Step 3: For new customers, select ‘Register’. Then read the terms and conditions set by the Reserve Bank of India (RBI), and proceed.
Step 4: Enter all required SGB scheme details as well as information about the depository participant from CDSL or NSDL, depending on where your demat account is hosted.
Step 5: Submit the online registration form.
Step 6: After registration, select the purchasing option from the header link/section or directly select ‘Purchase’.
Step 7: Enter your subscription quantity as well as nominee details.
Step 8: To complete the process, key in the one-time password (OTP) sent to your registered mobile number.
Sovereign Gold Bonds: Here are the different ways to buy SGBs
- Commercial banks offer gold bonds for purchase to investors.
- Using net banking, you can invest in SGB Online.
- Through your bank’s mobile app.
- By physically going to a designated post office or bank branch. To make the payment, complete the application form, include the units, and send it with a cheque or demand draft. Remember to attach your Aadhaar and PAN card too.
- By using the RBI Retail Direct website.
- Stock Holding Corporation of India Limited (SHCIL) is another source where investors can purchase gold bonds.
- Gold bonds are also available for purchase on reputable stock exchanges.
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