The Reserve Bank of India has announced the issue date and price of Sovereign Gold Bond Series IV 2023-24, which is the fourth and the last issue of the financial year.
When will SGB Series IV 2023-24 open for subscription?
Sovereign Gold Bond Series IV 2023-24 will be open for subscription from February 12 to 16, 2024. The issuance is scheduled for February 21, 2024.
What will be the price of SGB Series IV 2023-24?
Sovereign Gold Bond Series IV 2023-24 will be priced at Rs 6,263 per gram of gold. Those who buy the bond online will get a discount of Rs 50, reducing the price per gram to Rs 6,213, according to RBI.
Where to buy SGB Series IV 2023-24?
Sovereign Gold Bond Series IV 2023-24 can be bought via BSE, NSE, scheduled commercial banks, Stock Holding Corporation of India Ltd, Clearing Corporation of India and designated post offices. SGB cannot be bought through small finance banks, payment banks and regional rural banks.
How much gold can you buy via SGB?
For individuals, the minimum subscription limit is one gram and the maximum subscription limit is 4kg per fiscal year. The maximum limit for Hindu Undivided Family (HUF) is 4kg while for trusts and small entities it is 20kg.
What are the benefits of SGB?
- No risk of theft or cost of storage
- SGBs can be used as collateral for loans
- Investors will be paid 2.5 per cent fixed interest rate per annum payable semi-annually on the nominal value. This is independent of the capital appreciation of SGBs. Note that the interest in fully taxable as per your income tax slab.
- SGB tenor will be eight years. If held till maturity, investors will be exempt from capital gains tax.
- You can transfer the bond before maturity and gain indexation benefit.
