Sovereign Gold Bond Series III 2023-24 Opens Today: Key Details

Gold Prices

December 18, 2023

New Delhi, India

Investing in Gold Simplified: Introducing Sovereign Gold Bond Series III 2023-24

The Reserve Bank of India (RBI) has once again opened the doors to gold investment with the Sovereign Gold Bond (SGB) Scheme Series III for 2023-24. This program provides a secure and convenient way for individuals and institutions to add the shine of gold to their portfolios. Let’s explore the key details and benefits of this unique investment option.

Subscription Period: The current tranche is open for five trading days, from December 18 to December 22, 2023. This gives investors ample time to consider and complete their applications.

Competitive Pricing: The issue price for this series is set at Rs 6,199 per gram of gold, making it an attractive entry point for gold investment. Additionally, a discount of Rs 50 per gram is offered for online subscriptions made through digital channels.

Government-backed Safety: SGBs, launched in 2015 as part of the Gold Monetization Scheme, are essentially government securities issued in units of gold. This means investors benefit from the guarantee of receiving the market value of gold at maturity, protecting their initial investment from price fluctuations.

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Open to a Wide Range of Investors:

Indian residents, including individuals, Hindu Undivided Families (HUFs), trusts, universities, and charitable institutions, are all eligible to participate in the SGB scheme. The minimum investment starts at a small, accessible 1 gram of gold, while the maximum investment per fiscal year is set at 4 kg for individuals and HUFs and 20 kg for trusts and specified entities.

Attractive Returns: SGBs offer a fixed interest rate of 2.50% per annum, paid semi-annually into the investor’s bank account. This consistent return, combined with the potential for gold price appreciation, makes SGBs a compelling investment proposition.

Convenient Online Purchase: SGBs can be purchased both online and through the secondary market. However, online purchases offer the additional benefit of the Rs 50 discount. Simply log in to your net banking account, select “Sovereign Gold Bond,” and follow the registration and purchase process.

Mitigated Risk: While all investments carry inherent risks, the RBI assures SGB investors that they will not face any loss in terms of the allocated quantity of gold. This safeguard protects investors from market downturns and provides peace of mind.

Also read: India’s November Trade Deficit Narrows to $20.58B, Exports Slip 2.8%, Imports Down 4.35% YoY

Get Ready to Invest:

With Series III of the Sovereign Gold Bond Scheme now open, investors have a valuable opportunity to diversify their portfolios with the timeless asset of gold. By understanding the eligibility criteria, investment limits, and attractive benefits, you can make an informed decision and capitalize on this secure and rewarding investment avenue.


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