Sovereign Gold Bond 2023-24 series 3: How to buy SGB from banks, post offices, stock exchanges. Step-by-step guide

The third tranche of the Sovereign Gold Bond scheme - SGB 2023-24 Series III opened for subscription on December 18, and will remain available till December 22. The Reserve Bank of India (RBI) has fixed the issue price for the latest lot of gold bonds at ₹6,199 per gram.

The love for the yellow metal lies in the roots of India and gold is considered a hedge against inflation. 

The Sovereign Gold Bond scheme offers a golden opportunity for people who are hesitant to buy physical gold as apart from safety issues the investors are compensated at a fixed rate of 2.50 per cent per annum payable semi-annually on the nominal value.

How to buy Sovereign Gold Bond scheme

Log in to your net banking account ( SBI, HDFC Bank, PNB, Canara Bank, ICICI Bank)

Select 'e-Service' from the main menu and choose 'Sovereign Gold Bond'.

-Select ‘terms and conditions’ and click on ‘proceed’

-Fill out the registration form. This is a one-time registration.

-Select the Depository participant from NSDL or CDSL where your demat account is held.

-Click on submit

-Enter the subscription quantity and nominee details in the purchase form

-Now, click on ‘submit’

-Enter the one-time password (OTP) sent to your mobile phone to complete the process.

Different ways to buy SGBs

1)Investors can also buy gold bonds from commercial banks,

2)You can invest in SGB Online through net banking. 

3) Through the mobile application of your bank. 

4) By visiting a bank branch or designated post office physically. Fill out the form along with units and submit it along with a Cheque or DD to make payment. Attach your Aadhaar Card and PAN card also.

5)Through RBI Retail direct website

6)Investors can also buy gold bonds from  Stock Holding Corporation of India Limited (SHCIL)

7) Investors can also buy gold bonds from recognised stock exchanges.

More about Sovereign Gold Bond scheme

The issuance of SGB 2023-24 Series III will take place on December 28. The Reserve Bank of India issues the bonds on behalf of the central government. The maximum limit of subscription of SGB is 4 kg for individuals, 4 kg for HUF, and 20 kg for trusts and similar entities per fiscal year. The tenor of the SGB is eight years with an option of premature redemption after the fifth year.