1. Sovereign Gold Bond 2023-24 Series IV to open on Feb 12: All you need to know

Sovereign Gold Bond 2023-24 Series IV to open on Feb 12: All you need to know

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1 min read • Updated: February 10, 2024, 10:46 AM

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Summary

The Government, in coordination with the RBI, offers a discount of ₹50 per gram from the issue price to investors who apply online and make payments through digital mode

SGB.webp
SGBs give an interest of 2.50 per cent at the fixed rate per annum on the initial investment amount

The Government of India, in accordance with Notification No.4(6)-B(W&M)/2023 dated December 08, 2023, announces the opening of subscription for Sovereign Gold Bonds 2023-24 (Series IV) from February 12 to 16, 2024. The settlement date is slated for February 21, 2024.

During the subscription period, the issue price of the Bond stands at ₹6,263 per gram, as confirmed by the Reserve Bank of India in their Press Release dated February 09, 2024.

The Government, in coordination with the RBI, offers a discount of ₹50 per gram from the issue price to investors who apply online and make payments through digital mode. For such investors, the issue price of the Gold Bond reduces to ₹6,213 per gram.

What are Sovereign Gold Bonds (SGBs)?

SGB or Sovereign Gold Bonds are government securities denominated in grams of gold, a great and safe alternative to holding physical gold. By investing in them you can benefit from gold price appreciation, get 2.5% guaranteed interest and enjoy tax benefits.

You can invest in SGB from Upstox mobile and web platforms