Latest Sovereign Gold Bond tranche open for subscription: 5 ways to invest in SGB 2023-24 Series-IV
Sovereign Gold Bonds (SGB) 2023-24 Series-IV tranche is available for subscription starting today, February 12, 2024, and will be open until February 16, 2024. SGBs are normally allocated seven days after the subscription ends, so this tranche’s issuance date is February 21, 2024.
Sovereign Gold Bonds 2023-24 Series IV opens on February 12: Know the latest SGB tranche issue price
Investors including individuals, HUFs, trusts, universities and charitable institutions are eligible to invest in SGBs. Individual investors with subsequent change in residential status from resident to non-resident may continue to hold SGB till early redemption/maturity.
The bond's nominal value is Rs 6,263 per gram of gold, based on the simple average of closing prices for gold of 999 purity of the final three working days of the week before the subscription period, i.e., February 07, February 08, and February 09, 2024.
Investors looking for twin engines of quality and growth.
After a discount of Rs 50 per gram less than the nominal value for investors who apply online, the issuance price of the Gold Bond would be Rs 6,213 per gramme of gold.
SGB details
The tenor of the bond is 8 years. After 5 years, investors can apply for premature withdrawal. The maximum limit of subscription of 4 kg for individuals, 4 kg for Hindu Undivided Family (HUF) and 20 kg for trusts and similar entities notified by the government from time to time per fiscal year (April – March).
Where to buy SGB
The SGBs will be sold through Scheduled Commercial banks
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