Sovereign Gold Bonds 2023-24 Series-IV tranche: Benefits, features of SGB
Sovereign Gold Bonds (SGB) 2023-24 Series-IV is now open for people to buy from February 12, 2024, until February 16, 2024. After you buy, it usually takes seven days for the bonds to be given to you. For this series, that will be on February 21, 2024.
The bond is valued at Rs 6,263 for each gram of gold. This value is determined by calculating the average closing prices of gold with 999 purity over the last three working days before the subscription period, which are February 07, February 08, and February 09, 2024.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.
Also read: Latest Sovereign Gold Bond tranche open for subscription: 5 ways to invest in SGB 2023-24 Series-IV
Also read: Know the latest SGB tranche issue price
SGB details
Individuals, families, trusts, universities, and charitable organizations can invest in SGBs.
Investors looking for twin engines of quality and growth.
SGBs come with a tenure of eight years. After five years, investors can request to withdraw early.
There are limits on how much you can buy:
- Individuals can buy up to 4 kg
- Hindu Undivided Families (HUFs) can also buy up to 4 kg
- Trusts and similar groups approved by the government can buy up to 20 kg per year (from April to March).
Sovereign Gold Bond Features
Here are some important features of the Sovereign Gold Bond, as per the ICICI Bank website.
- Eligibility: The SGBs will be restricted for sale to resident
