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

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.

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.

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.