Sovereign Gold Bond Scheme 2023-24 :- is a digital gold. This scheme was issued on 2015 November by RBI. SGB scheme is issued by the authority of government RBI in a few time in a year. SBG scheme is not a real gold, RBI takes money and pay back after 8 years. 1SGB cost as 1G of gold at current prices and RBI will pay back at future gold prices with 2.5 percent SI per annual interest. Individual can buy it. Moreover to purchase SGB you have to be alert about the date of announcement RBI. According to RBI the price of gold bond will be 5,145 per gram of gold, and for online investors Rs.50 per gram, representing a savings.
The RBI has announced the dates of second subscription tranche of the Sovereign Gold Bond Scheme 2023-24: Dates: Series 1,2,3,4,11 the payment is due on may 12th 2023. The second season of SGB would start on 20 August and end on 26 August it is stated on the announcement.
Sovereign Gold Bond Scheme 2023
The primary reason to introducing this scheme was to decline buying physical gold. This bond is provided to all individuals of India with investment limit of 1gm to 4kg and maturity period of 8 years. 1 SGB cost as 1 gold price, in addition RBI pays back at future gold price with simple interest of 2.5 per gram yearly. This bond gives nomination facilities plus after 5th and 6th years exit option. One can trade gold SBGs in secondary markets through stock brokers after holding five years of investment.
SBGs is the best way to invest in gold. Investors can invest in these bonds through the sources like commercial banks, Designated post offices, stock exchanges like BSE and NSE and more, individuals will need to fill an application form provided by the above mentioned sources. The investor will receive holding certificate for it.
Overview Sovereign Gold Bond Scheme 2023
| Name of Scheme | Sovereign Gold Bond Scheme 2023 |
| Launched By | Reserve Bank of India |
| Beneficiaries | Citizens of India |
| Objective | To decrease the purchase of gold |
| Launch Date | Coming Soon |
| Website | Click Here |
Objective for Sovereign Gold Bond Scheme 2023
The primary objective of this scheme is to reduce buying physical gold. In order to decrease demand for gold government has launched this scheme. In restricted quantities, the government makes SGBs available in tranches.
Sovereign Gold Bond 2023: Issue price, and discount
The government has fixed the issue price at ₹5,926 per gram of gold for the first tranche of the Sovereign Gold Bond Scheme 2023-24
Benefits for Sovereign Gold Bond Scheme 2023
- The market value of gold at the time of maturity is guaranteed to investors.
- The storage danger and expenses of physical gold is reduce.
- In SGB there is no concern like purity of gold and manufacture fees.
- The SGB is better choice than keeping a physical gold.
Eligibility Criteria
- All Indian are eligible for this bond including individuals, HUFs, Trusts, charitable institutions, and universities.
- Minors can also invest in this bond.
Required Documents
- Aadhaar card,
- Voter ID
- PAN or TAN
- Passport
- Residence certificate
- Bank details will be required.
How to Apply Sovereign Gold Bond Scheme 2023-24
The registration will start on 22 August to 26 August.
- Go to the official website of the portal
- Home page will appear in front of you
- Now click on application form
- Fill the application form correctly
- Attach all the required documents
- Lastly click on submit button