Today marks the final opportunity for investors to secure their financial future with the Sovereign Gold Bond Scheme.
This government-backed initiative provides a unique avenue for individuals to benefit from the rising gold prices while earning interest.
The Sovereign Gold Bond Scheme 2023-24 – Series II, introduced on September 11, will close for investment on September 15.
Discover how to capitalize on this golden opportunity through your SBI account.
Buy Gold at a Discounted Rate through Sovereign Gold Bond Scheme!
The price of one gram of gold under the Sovereign Gold Bond Scheme is an enticing Rs 5,923.
For those opting for online payments, there’s an additional incentive – a discount of Rs 50 per gram, bringing the cost down to just Rs 5,873 per gram.
In comparison, the market rate for 10 grams of 24-carat gold in Delhi currently hovers around Rs 59,000, offering investors a substantial saving.
How to Invest in Sovereign Gold Bond Scheme via SBI Account
Investing in the Sovereign Gold Bond Scheme through your SBI account is a straightforward process.
Here’s a step-by-step guide to get started:
Step 1: Log in to your SBI online banking account.
Step 2: Navigate to the ‘eServices’ tab and select ‘Sovereign Gold Bond.’
Step 3: Review and accept the ‘Terms and Conditions,’ then proceed by clicking ‘Continue.’
Step 4: Follow the provided instructions, which may include a one-time registration process.
Step 5: Once registered, click ‘Submit’ to confirm your participation.
Step 6: Fill out the purchase form with your desired quantity of gold and nominee details.
Step 7: Finally, click ‘Submit’ to complete your investment.
Alternative Investment Options:
Apart from SBI, investors can also purchase Sovereign Gold Bonds via net banking with ICICI Bank, PNB, and Canara Bank.
Earn Attractive Interest with Sovereign Gold Bond Scheme
The Sovereign Gold Bond Scheme offers a unique proposition with a total maturity period of 8 years, allowing early withdrawal in the 5th year if needed.
Investors can enjoy a competitive interest rate of 2.50 percent, disbursed every 6 months.
KYC rules for Sovereign Gold Bond Scheme are akin to physical gold purchases, and SGBs can be used as collateral for loans.
However, it’s essential to note that interest earned on SGBs is taxable under the Income Tax Act 1961 (43 of 1961).