The Sovereign Gold Bond Scheme 2023-24 presents a golden opportunity for investors to capitalize on the upward trend of gold prices while earning interest.
With the scheme launched by the Government of India on December 18, 2023, investors have until December 22, 2023, to seize this lucrative investment option.
Investing Online with Ease: Discover the hassle-free process of investing in the Sovereign Gold Bond Scheme online, right from the comfort of your home.
Read on to learn the step-by-step guide on how to make the most of this investment avenue.
Step-by-Step Guide for SBI Account Holders: If you are an SBI account holder, follow these simple steps to invest in the Sovereign Gold Bond Scheme:
- Login: Access your SBI online banking account.
- Navigate to eServices: Click on the ‘eServices’ tab and select ‘Sovereign Gold Bond.’
- Terms and Conditions: Choose ‘Terms and Conditions’ and proceed by clicking ‘Continue.’
- Apply: Follow the instructions for application, including a one-time registration.
- Submission: Click ‘Submit’ after completing the registration.
- Purchase Form: Fill out the purchase form, specifying the quantity of gold and nominee details.
- Final Submission: Click ‘Submit’ to finalize your investment.
Other Banking Options: Apart from SBI, investors can also purchase Sovereign Gold Bonds through net banking in ICICI Bank, PNB, and Canara Bank.
Interest and Maturity Details: The Sovereign Gold Bond Scheme offers a maturity period of 8 years, with an option to exit in the 5th year. Investors receive a 2.50% interest, paid every 6 months.
Additionally, these bonds can be utilized as collateral for loans. It’s important to note that interest on Sovereign Gold Bonds is taxable under the Income Tax Act of 1961 (43 of 1961).
Launched in 2015, the scheme has proven to be a reliable and rewarding investment avenue for those seeking to benefit from the gold market’s potential.
