The Sovereign Gold Bonds (SGB) 2023-24 Series-IV tranche is available for subscription starting today, February 12, 2024, and will be open until February 16, 2024. SGBs are normally allocated seven days after the subscription ends, so this tranche’s issuance date is February 21, 2024
Sovereign Gold Bonds 2023-24 Series IV opens on February 12: Know the latest SGB tranche issue price
Investors including individuals, HUFs, trusts, universities and charitable institutions are eligible to invest in SGBs. Individual investors with subsequent change in residential status from resident to non-resident may continue to hold SGB till early redemption/maturity
The bond’s nominal value is Rs 6,263 per gram of gold, based on the simple average of closing prices for gold of 999 purity of the final three working days of the week before the subscription period, i.e., February 07, February 08, and February 09, 2024.
After a discount of Rs 50 per gram less than the nominal value for investors who apply online, the issuance price of the Gold Bond would be Rs 6,213 per gramme of gold.
SGB details
The tenor of the bond is 8 years. After 5 years, investors can apply for premature withdrawal. The maximum limit of subscription of 4 kg for individuals, 4 kg for Hindu Undivided Family (HUF) and 20 kg for trusts and similar entities notified by the government from time to time per fiscal year (April – March).
Where to buy SGB
The SGBs will be sold through Scheduled Commercial banks (except Small Finance Banks, Payment Banks and Regional Rural Banks), Stock Holding Corporation of India Limited (SHCIL), Clearing Corporation of India Limited (CCIL), designated post offices, and recognised stock exchanges viz., National Stock Exchange of India Limited and Bombay Stock Exchange Limited.
Here is a look at different ways to invest in SGB.
SGB through net banking
How to buy SGB online via HDFC Bank net banking
Step 1 – Login into your HDFC net banking
Step 2 – Click on the ‘Offers’ tab in the menu bar
Step 3 – Click on ‘Buy now’ on SGB banner. Note: If there is no active SGB subscription, you will not see the SGB banner.
Step 4 – Click on ‘Ok” on Pop up message.
Step 5 – Another popup will appear regarding ‘demat account must be activated if you want to receive your SGB in Demat from’. Click on ‘Ok”.
Step 6: Your basic details will be auto-filled like customer ID name, DOB, address, and PAN number.
Step 7: Enter the gold units that you want to buy. Enter the nominee details.
Step 9: Tick the ‘ I have read and understand terms & conditions” box. Click on the ‘Generate OTP’ button.
Step 10 – Submit the OTP that you receive on your mobile number. How to invest in SGB through mobile app
Step 1: Login ICICI Bank mobile banking app
Step 2: Select ‘Invest and Insure’
Step 3: Select Sovereign Gold Bond
Step 4: Select grams and make payment.
How to buy Sovereign Gold Bonds through the Upstox app
Step 1: From the ‘Account’ section switch to ‘Upstox for investors’ if you’re on the ‘Upstox Pro for traders’ mode.
Step 2: Click on ‘Invest in Gold’ from the Homepage or More
Step 3: From the ‘Explore’ section, look for an open Sovereign Gold Bond (SGB) series that you wish to invest in
Step 4: Go through the details of the SGB and click on the ‘Apply button’
Step 5: Select the number of units who wish to purchase and re ..
Physically visiting Banks, designated post office
One can invest in SGB by visiting the bank branch or designated post office. Fill the form with units and other details and submit along with cheque or DD to make payment. Attach PAN card and Aadhaar cards.
How to invest SGB through Retail direct website
Follow these steps to register for the Retail Direct Gilt Account:
Step 1: Open https://rbiretaildirect.org.in and click on “Open RBI Retail Direct Account”
Step 2: Click on “Register here”
Step 3: Select Account Type and enter the details such as Name, PAN, and Date of Birth
Step 4: Verify email and mobile with OTP sent and enter the preferred Login name.
Step 5: It opens a Preview page when you click “Preview and Submit.”
Step 6: To begin the KYC procedure, click “Initiate KYC.” On the following page, there are two alternatives for KYC.
Step 7: Using the PAN, you can search for information. If the customer’s PAN is not available in the CKYC database, the error message “Failed to Search CKYC Number Please Try Again Later” appears.
Step 8: The customer can review the CKYC information on the screen and then click “SUBMIT.”
Step 9: Customers can fill out “ADDITIONAL PERSONAL DETAILS” on the following page and make a declaration under FATCA and PMLA.
Following the submission of the application, the investor can review the terms and conditions as well as the signee’s name. The investor will be sent a letter with instructions on how to digitally sign the Terms and Conditions using an Aadhaar-enabled OTP.
After registering, one can easily invest in SGB through the website.
