Sovereign Gold Bond Scheme 2023-24: New series ends today. Top 5 reasons to apply?
Sovereign Gold Bond Scheme 2023-24: The new scheme of the Sovereign Gold Bond (SGB) 2023-24 which is popularly known as Sovereign Gold Bond 2024 opened on 12th February 2024. The new series of the SGB will remain open till 16th February 2024. This means investors have just one day in hand to apply for the Series IV of SGB. As per the Reserve Bank of India (RBI), the Sovereign Gold Bond Series IV price has been fixed at ₹6,263 per gram. However, an online applicant can save ₹50 per gram as the RBI has announced a ₹50 per gm discount for an online applicant.
Advising investors to apply for the offer, Narinder Wadhwa, National President at CPAI said, «SGB Scheme has proved to be popular among investors who are looking to invest in gold conveniently and securely. The SGB offers various benefits such as an annual interest rate of 2.5% on the invested amount, no storage or security issues, and the option to buy or sell the bond on the stock exchange.»
Also Read: Sovereign Gold Bond: Why PPF, bank FD investors should think of investing in SGB too — explained
«For those interested in long-term bullion investments, SGBs are one of the best options, providing half-yearly interest at 2.50% p.a. with the possibility of early redemption after 5 years. SGBs have gained prominence in recent years due to the surge in gold prices, making them an appealing choice for bullion investors,» said Amit Goel, Co-Founder and Chief Global Strategist at Pace 360.
On how to maximize one's return from one's investment in the Sovereign Gold Bond Series, Pace 360 expert said, «SGBs are currently trading at a lower price in the secondary market compared to their initial offering in the primary market. Consequently, we strongly advise investors to
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