Good news for potential gold investors! The Reserve Bank has just launched Series 2 of the Sovereign Gold Bond Scheme (2023-24), offering a chance to buy gold at a lower cost.
You can start applying for this scheme today, starting from September 11, with availability beginning on September 15.
Price Details
In this Series 2 of the Sovereign Gold Bond Scheme 2023-24, the Reserve Bank has set the price at Rs 5,923 per gram.
If you choose to make a digital payment, you’ll receive a Rs 50 per gram discount, reducing the cost to Rs 5,873 per gram.
Where to Purchase
You have multiple options for purchasing Sovereign Gold Bonds, including banks, Stock Holding Corporation of India Limited (SHCIL), designated post offices, and stock exchanges like NSE and BSE.
Digital payments can be made through UPI, while physical payments can be made using cash, checks, or drafts.
Minimum Investment
Individuals, HUFs, trusts, universities, and charitable institutions can invest in this scheme, with a minimum investment requirement of 1 gram.
Individuals can invest up to a maximum of 4 kg, while trusts and similar entities can invest up to 20 kg.
Lock-in Period
The Sovereign Gold Bond Scheme is a long-term investment with an 8-year lock-in period. However, you can choose to exit after the 5th year.
Investors receive government certificates, and the bonds can be converted into demat form or used as collateral for loans.
Why Choose Sovereign Gold Bonds
Issued by the Reserve Bank of India (RBI) on behalf of the government, the Sovereign Gold Bond Scheme provides a secure alternative to physical gold.
It offers safety, purity assurance, and an annual interest rate of 2.50% on the initial investment, making it a preferable choice for investors seeking stability and returns.
