People who like to invest in gold have good news waiting for them. According to the latest details announced by the Reserve Bank of India (RBI), the Sovereign Gold Bond (SGB) tranche is scheduled to open today, Monday, 11 September 2023, for all interested people. The Central Bank has revealed the price for the same so you should take a look at it. One should know the Sovereign Gold Bond (SGB) Scheme 2023-24 subscription dates as well.
We have all the details about the Sovereign Gold Bond (SGB) Scheme 2023-24 such as the subscription dates, issue price, discount for applicants, etc., that you should note if you are planning to subscribe. It is important to take a look at the latest announcements by the Reserve Bank of India (RBI) and then take a decision. You must read the details.
Here is everything you should know about the latest Sovereign Gold Bond (SGB) Scheme 2023 Series II that is set to open today, Monday, 11 September. Go through the important dates and details before subscribing to the scheme.
Sovereign Gold Bond (SGB) Scheme 2023 Series II: Subscriptions Dates, Issue Price, and Discount
According to the official details, the subscription for the Sovereign Gold Bond (SGB) Scheme 2023 Series II is set to start today, Monday, 11 September 2023, and end on 15 September.
The Reserve Bank of India (RBI) has set an issue price for the Sovereign Gold Bond Scheme 2023-24 Tranche 2 and it is Rs 5,923 per gram. One should take note of the price.
As per RBI, there will be a discount of Rs 50 per gram for those applicants who will register for the Sovereign Gold Bond (SGB) Scheme 2023 Series II online. To avail of the discount, you have to make the payment via digital mode.
After the discount of Rs 50, the issue price of the Sovereign Gold Bond will be reduced to Rs 5,873.
Sovereign Gold Bond (SGB) Scheme 2023 Series II: Eligibility and Interest Rate
Everybody should note that the Sovereign Gold Bond (SGB) will be sold via banks, Stock Holding Corporation of India Ltd (SHCIL), designated post offices, and recognised stock exchanges.
The stock exchanges include the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE).
People who are eligible to buy the Sovereign Gold Bond include resident individuals, Hindu Undivided Families (HUF), Trusts, Universities and Charitable Institutions.
The interest rate for the Sovereign Gold Bond (SGB) Scheme 2023-24 Series II is 2.50 percent per annum, which is payable semi-annually on the nominal value.