Last date for Sovereign Gold Bond February tranche tomorrow. How to buy cheaper gold?

Subscription period for Sovereign Gold Bond Scheme 2023-24 - Series IV ends on Friday

Updated on: Feb 15, 2024, 19:48:28 IST

By HT News Desk

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The ongoing subscription period for the Sovereign Gold Bond Scheme 2023-24 - Series IV, which commenced on February 12, will conclude on Friday. The issue price, as per the Reserve Bank of India, is fixed at ₹6,263 per gram.

The issue price for Sovereign Gold Bond Scheme 2023-24-Series IV has been fixed at ₹6,263 per gram of gold, the central bank has said. (Reuters Photo)

What are the investment limits for the gold bonds?

These bonds are denominated in multiples of grams of gold, with the minimum permissible investment set at 1 gram. Individuals have a maximum subscription limit of 4 kg, while trusts and similar entities can subscribe for up to 20 kg each fiscal year.

Tenor of the SGB Scheme

The SGBs come with an eight-year tenure, allowing an exit option after the fifth year, exercisable on the next interest payment dates. These bonds offer an annual interest rate of 2.5 per cent, paid semi-annually in June and December. Upon maturity, the bonds are redeemed at the prevailing market price of gold.

Where to purchase sovereign gold bonds?

These bonds are available for purchase through banks, the Stock Holding Corporation of India Ltd (SHCIL), designated post offices, and recognized stock exchanges, including the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE).

Enjoy a ₹50 discount with digital transactions:

In collaboration with the RBI, the government has decided to provide a ₹50 discount per gram less than the nominal value to investors who apply online and make payments through digital modes. For such investors, the issue price of the gold bond will be ₹6,213 per gram.

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HT News Desk
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