Sovereign Gold Bond (SGB) Scheme 2023-24 December Series III Issue Price, Interest Rate, Dates & Returns: Sovereign Gold Bond (SGB) Scheme 2023-24 – Series III will open for subscription on Monday, December 18, 2023. The sovereign gold bond scheme was launched in November 2015 with the objective to reduce the demand for physical gold and shift a part of the domestic savings — used for the purchase of gold — into financial savings. The Reserve Bank of India issues the bonds on behalf of the central government.
Sovereign Gold Bond (SGB) Scheme 2023-24 Issue Price
Reserve Bank of India (RBI) has fixed the issue price at Rs 6,199 per gram of Series III tranche of Sovereign Gold Bond. In a statement, the RBI said the nominal value of the bond based on the simple average closing price for gold of 999 purity works out to Rs 6,199 per gram.
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Sovereign Gold Bond (SGB) Scheme 2023-24 Series 3 Issue Dates
The issue will open for subscription for five days between December 18 – 22, 2023.
Sovereign Gold Bond 2023: Where to buy SGB Series 3?
The SGBs will be sold through scheduled commercial banks (except small finance banks, payment banks and regional rural banks), Stock Holding Corporation of India Limited (SHCIL), Clearing Corporation of India Limited (CCIL), designated post offices, National Stock Exchange of India Limited and Bombay Stock Exchange Limited.
Sovereign Gold Bond (SGB) Scheme 2023 Discount Price
The central government, in consultation with the Reserve Bank, has decided to offer a discount of Rs 50 per gram less than the nominal value to those investors applying online and making the payment through digital mode. “For such investors, the issue price of Gold Bond will be Rs 6,149 per gram of gold,” the central bank said.
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Sovereign Gold Bond (SGB) Scheme Interest Rate
The investors are compensated at a fixed rate of 2.50 per cent per annum payable semi-annually on the nominal value.
Sovereign Gold Bond (SGB) Scheme Maximum Limit
The maximum limit of subscription shall be 4 kg for individuals, 4 kg for HUF and 20 kg for trusts and similar entities per fiscal year.
Sovereign Gold Bond (SGB) Scheme Withdrawal
The tenor of the SGB is eight years with an option of premature redemption after the fifth year to be exercised on the date on which interest is payable.
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Sovereign Gold Bond (SGB) Scheme: Next Date of Issue
The Gold Bond Scheme 2023-24 – Series IV is scheduled for February 12-16. Series I was open for subscription on June 19-23 this year, and Series II during September 11-15.
Sovereign Gold Bond (SGB) Scheme Benefits
The bonds can be used as collateral for loans. Know Your Customer (KYC) norms will be the same as that for the purchase of physical gold.
