Sovereign Gold Bond Scheme: Issue price, online discount, interest rate, where to buy, investment limit, other important details to know

Sovereign Gold Bonds 2023-24 Series I: Issue price

The first series of the 2023-24 Sovereign Gold Bonds comes at Rs 5,926 per gram. Investors applying through digital modes of payment can avail a discount of Rs 50 per gram (Rs 5,876 per gram). 

Where to buy SGBs?

The Sovereign Gold Bonds will be sold through scheduled commercial banks, Stock Holding Corporation, Clearing Corporation, designated post offices, and stock exchanges NSE and BSE.

Sovereign Gold Bond: Lock-in, premature exit

SGBs come with a lock-in period of eight years with an option of premature redemption after the first five years. Premature redemption can be made on the date when interest is payable.

Sovereign Gold Bond: Investment limit

Eligible investors can buy a minimum of one gram of gold under the SGB scheme. The maximum limit varies, depending on the type of investor. It is 4 kg per financial year for individuals as well as HUFs, and 20 kg for trusts and similar entities.

Sovereign Gold Bond: Should you buy?

"It seems a perfect time to buy SGBs and add gold as a strategic asset. Prices are seen consolidating after a sharp advance, and expectations that the US Fed is nearing the end of its rate hike campaign amid receding inflationary pressures are likely to act as a tailwind for gold while suppressing the rival dollar index," Sugandha Sachdeva, Executive Director and Chief Strategist at Acme Investment Advisors, told Zeebiz.com.