Sovereign Gold Bond 2023-24 Series III to open on Monday: how to buy?

The investors who apply online and make payments through digital modes can avail a ₹50 discount per gram on sovereign gold bonds.

Published on: Dec 16, 2023, 10:28:13 IST

By HT News Desk

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If you're considering investing in gold, this news is relevant to you. The Reserve Bank of India (RBI) has set the issue price for the upcoming instalment of sovereign gold bonds at ₹6,199 per gram.

Gold bars are displayed in this file photo. (Reuters Photo)

The Sovereign Gold Bond (SGB) Scheme 2023-24 Series-3 will be open for investment from December 18 to December 22. According to a statement by the RBI, the price of gold bonds with 999 purity is ₹6,199 per gram.

The subsequent series of gold bonds is scheduled for February 12-16.

Also read- Sovereign Gold Bonds issue for December, February: 5 facts

What are the investment limits for the gold bond?

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

What is the tenor of the SGB Scheme 2023-24?

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 can you purchase sovereign gold bonds?

These bonds are available for purchase through banks, the Stock Holding Corporation of India Ltd (SHCIL), designated post offices, and recognised 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 ₹6,149 per gram.

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HT News Desk
Follow the latest breaking news, major developments and agenda-setting stories from India and around the world with the newsdesk at Hindustan Times. Operating round the clock, the desk brings together experienced editors, reporters and correspondents to deliver fast, accurate and contextual reporting across subjects that influence public policy, governance, business, society and international affairs. The HT News Desk covers politics, elections, government policies, the economy, business and markets, science and technology, the environment, law and order, infrastructure, education, climate issues and geopolitics, while closely tracking developments across states, institutions and global capitals. The team also leads coverage of major breaking news events, policy announcements, court proceedings, natural disasters, public emergencies and significant international developments. Reports published by the newsdesk are based on information gathered from reporters on the ground, official statements, government agencies, court records, regulatory filings, recognised institutions and other authoritative sources. Stories undergo editorial scrutiny and verification processes to ensure accuracy, fairness and relevance, and are updated as events evolve and additional information becomes available. Whether covering a key political decision in New Delhi, an economic policy shift affecting millions, a landmark court ruling or a major global event, the HT News Desk aims to provide readers with reliable, fact-based journalism that delivers not only the latest developments but also the context and analysis needed to understand their wider implications.Read More

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