The Sovereign Gold Bond 2023-24 is set to open on February 12th. Get ready for an exclusive opportunity – here are the key details you need to know!
This latest tranche of SGBs will be available for subscription for five days, from February 12 to February 16, 2024, with issuance scheduled for February 21, 2024.
Introduced by the Indian Government in 2015, Sovereign Gold Bonds have quickly become a preferred investment avenue for those looking to harness the potential of gold without the hassle of physical possession. Recognized as Government of India Stock under the Government Securities Act, 2006, SGBs offer investors a unique blend of security and returns.
The issue price of the Sovereign Gold Bond 2023-24 Series IV is ₹6,263. For online payments, ₹50 will be deducted, bringing the issue price to ₹6,213.
One of the most attractive features of SGBs is the favorable annual interest rate of 2.50%, credited biannually to investors' accounts, with the accrued interest paid out upon maturity.
Denominated in grams of gold multiples, with a fundamental unit of one gram, SGBs boast a tenor of eight years, with the option for premature redemption after the fifth year.
Investors will be pleased to note that upon maturity, Sovereign Gold Bonds incur no tax on redemption, making them an appealing option for long-term investment strategies. While SGBs may offer slightly less liquidity compared to physical gold assets, they are tradable on stock exchanges within a mere two weeks from their date of issuance.
For those interested in acquiring SGBs, several avenues are available, including scheduled commercial banks, designated post offices, and recognized stock exchanges such as the National Stock Exchange of India and the Bombay Stock Exchange. Online subscriptions with digital payments enjoy a discount of Rs 50 per gram, making investing in SGBs even more accessible.
The valuation of SGBs is based on the average closing price of 999 purity gold over the preceding three working days before the subscription period. The minimum investment for individuals is one gram, with a maximum subscription limit of 4 kg.
As investors gear up for the subscription period of the Sovereign Gold Bonds 2023-24 Series IV, now is the time to seize the opportunity to add this esteemed investment instrument to your portfolio.
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