Sovereign Gold Bond 2023 – 24
The Sovereign Gold Bond (SGB) 2023-24 Series-III will be start for investment from December 18 to December 22. As per Reserve Bank of India (RBI) announce, the price of sovereign gold bond price is ₹6,199 per gram and purity is 999.
Investors who apply online and make payments through digital modes can avail a discount of ₹50 per gram on the Sovereign Gold Bond.
Enjoy a discount of ₹50 on digital transactions. With the support of RBI, the government has decided to provide investors who apply online and make payments through digital modes a special discount of ₹50 per gram from the marked price. For online investors, the issue price of the gold bond will be reduced to ₹6,149 per gram.
What is the investment limit for gold bonds?
The value of these bonds is calculated in multiples of grams of gold, with a minimum acceptable investment of 1 gram of gold. The maximum subscription limit for individuals is 4 kilograms, while trusts and similar entities can subscribe up to 20 kilograms in each financial year.
What is the tenure of the SGB Scheme 2023-24?
The SGBs come with an eight-year tenure, providing the option to exit after the fifth year, which can be utilized on the upcoming interest payment dates. These bonds offer an annual interest rate of 2.5%, paid semi-annually in June and December. After maturity, the bonds are redeemed at the prevailing market price of gold.
What is Sovereign Gold Bond ?
Sovereign Gold Bonds (SGB) are government securities denominated form of gold. They function as an alternative for physical ownership of gold. Investors need to make payments for the issue price in cash and receive cash redemption upon maturity. These SGB are issued by the Reserve Bank of India (RBI) on behalf of the Government of India.
Sovereign Gold Bond upcoming issues
Whether investors should participate in this series or wait for the next one, which opens in February, depends on their individual financial goals, market conditions, and investment preferences. It’s advisable to consider factors such as current gold prices, personal financial objectives, and the timing of their investment. Consulting with a financial advisor can also provide tailored guidance based on specific circumstances.
Sovereign Gold Bond Calculator
To calculate investment and returns please click here
Sovereign Gold Bond Interest rate
The current interest rate for SGBC (Special Gold Bond Scheme) on your initial investment is 2.50% per annum. The interest is paid semi-annually, for up to 8 years, which means until maturity. The interest is directly deposited into your account, which you had shared at the time of making the investment. The return is generally linked to the prevailing market price of gold.
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How to buy Sovereign Gold Bond online
An individual can apply for Sovereign Gold Bonds through various channels, including their banks, Stock Holding Corporation of India Limited (SHCIL), designated post offices, and recognized stock exchanges such as the Bombay Stock Exchange and National Stock Exchange of India Limited. The application can be made either directly or through agents.
Additionally, Sovereign Gold Bonds can also be purchased online through the official websites of authorized commercial banks. The process of buying SGBC through the bank’s online portal typically involves the following steps:
Log in to your internet banking account.
Click on the ‘E-Services’ option and select ‘Sovereign Gold Bond.’
Read the terms and conditions, then click on the ‘Proceed’ option.
Fill out the registration form and click on the ‘Submit’ button.
In the purchase form, provide details of the nominated individual and the subscription amount.
After verifying all the details, click on the ‘Submit’ option.
This online process streamlines the purchase of Sovereign Gold Bonds, making it convenient for individuals to invest in this financial instrument.
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Frequently asked questions:
What is the interest rate for Sovereign gold bond 2023?
Ans: As per January 2024 the interest rate of Sovereign gold bond 2.5 % per annum. This interest will be paid every six months I.e two times in a year will be sent to your bank account. The final year interest earned and maturity amount will be sent to your bank account.
How is sovereign gold bond interest calculated?
Ans: Sovereign gold bond interest calculated 2.5% per annum, the earned interest will be sent your bank account every six months, this interest earned is taxable.
To calculate interest click here
What is the lock-in period for SGB 2023?
Ans: The lock in period of SGB is eight years for example you invested in December 2023 it matures in December 2031.
Is SGB better than FD?
Ans: Yes SGB is better than FD