Sovereign Gold Bond 2023-24 series four: Gold investment through Sovereign Gold Bond

SGB 2023-24 series 4 opening date:

People can buy Sovereign Gold Bonds (2023-24 Series IV) for five trading days, from February 12 to February 16. Reserve Bank of India (RBI) will soon say how much the issue is worth.

Prices will be set in Indian rupees based on the simple average of the last three working days of the week before the subscription period, as reported by the India Bullion and Jewellers Association Ltd (IBJA). This price is for 999-karat gold. The price of the issue will go down by 50 paise per gram for people who choose to subscribe online and pay for it digitally. Financial planning with Sovereign Gold Bonds is indeed beneficial.

Investment options in gold bonds:

To make it easier for people to get SGBs, they will be offered by scheduled commercial banks (but not small finance banks, payment banks, or regional rural banks), the Stock Holding Corporation of India (SHCIL), the Clearing Corporation of India (CCIL), certain Post Offices, the National Stock Exchange of India, and the Bombay Stock Exchange.

Steps to buy Sovereign Gold Bond online:

Step 1: Sign in to your online banking account.

Step 2: Go to the main menu and choose "e-Service." Then, pick "Sovereign Gold Bond."

Step 3: People who are investing for the first time must sign up, read the Reserve Bank of India's rules, and then move on. You need to enter the information for the SGB scheme and the depository participant from NSDL or CDSL that hosts the demat account.

Step 4: Send in the form for registration.

Step 5: Once you've signed up, go to the header tab and click on "Purchase."

Step 6: Type in the number of subscriptions and the information for the nominee.

Step 7: To finish, enter the one-time password (OTP) that was sent to your phone.