Published By: Business Desk
Last Updated: February 15, 2024, 07:30 IST
Sovereign Gold Bond Scheme 2023-24 – Series IV is now open for subscription. (Representative picture)
The newest tranche of the scheme, often known as Sovereign Gold Bond Scheme 2023-24 – Series IV will stay out there for subscription until February 16.
Sovereign Gold Bond Scheme 2023-24 Series IV Opens For Subscription: The Reserve Bank of India has introduced the subsequent tranche of the Sovereign Gold Bond Scheme, out there for subscription from February 12 to 16. The difficulty worth has been set at Rs 6,263 per gram. Sovereign Gold Bonds are a handy and safe method to spend money on gold with out having to bodily buy it. A type of authorities securities, SGB is denominated in grams like bodily gold. It is issued by the RBI, on behalf of the Government of India.
Also Read: Sovereign Gold Bond Scheme 2024: Know Interest Rate On SGB, Price And Discount
Government-backed SGB gives a assured annual return together with the worth of gold on the time of maturity. Although these bonds are issued for a set time period of eight years, redemption choices can begin from the fifth yr, based mostly on when RBI opens a buyback window.
While the curiosity acquired on SGB is taxable underneath the top revenue from different sources, the tax is not going to be levied if the bonds are redeemed on maturity.
Sovereign Gold Bond Scheme 2023-24 – Series IV is now open for subscription. They might be bought on-line by way of a Demat account, internet banking possibility or RBI Retail Direct choices.
How To Book SGB Through Retail Direct
- Open the https://rbiretaildirect.org.in hyperlink and click on on ‘Open RBI Retail Direct Account’
- Next, click on on ‘Register here’, choose Account kind, and enter particulars like Name, PAN, and Date of Birth
- Verify your electronic mail deal with and cellular quantity with OTP and enter the popular login title.
- A preview web page will open on the display screen upon clicking ‘Preview and Submit’.
- Next, to finish the KYC process, click on on ‘Initiate KYC’ and full the remaining steps.
- Investors may also fill out further private particulars on the next web page and make a declaration underneath FATCA and PMLA.
- Following the applying, traders will obtain a letter with directions on the best way to digitally signal the Terms and Conditions utilizing an Aadhaar-enabled OTP.
- After finishing the registration course of, traders can straight spend money on SGB by way of the web site.
Additionally, traders may also spend money on SGB by visiting their nearest financial institution or workplace and following the steps as directed.
