Earn with Gold: 8 Key things about Sovereign Gold Bond Scheme [SGB]

Written by Sravan

Updated on:

  • Individuals,
  • HUFs,
  • Trusts,
  • Universities and charities. 

1. When Sovereign gold bond scheme Introduced ?

The Sovereign Gold Bond scheme was launched by Prime Minister Narendra Modi in November 2015. These bonds are issued by the Reserve Bank of India (RBI) on behalf of the Central government.

2. What is the purpose of Government Sovereign Gold bond scheme ?

With the Sovereign Gold Bonds, there will be No wastage, No hallmark issue and Not only that all the bonds you have purchased will be available in Demat Book Forms with the Reserve Bank of India. So, there is no risk of losing it.

3. Sovereign gold bond scheme State Bank of India Maximum Limit ?

The Maximum subscription is upto 4 kgs for Individuals. 4 kg for Hindu Undivided Family (HUF) and 20 kg for Trusts and similar entities subject to the notification of the government from time to time depending on the financial reports.

4. How to invest in Sovereign gold bond scheme ?

Potential customers have the option to submit their application electronically on the websites of the designated commercial banks. For those who choose to apply online and make a digital payment, the Gold Bonds will be priced at Rs.50 per gram below the face value.

5. How to buy Sovereign gold bond scheme 2023 24 ?

If you want to invest in gold bonds, you can buy it from Nationalised Banks, Scheduled Private Banks, Scheduled Foreign Banks.
Alternatively, you can it at the designated Post Offices, Stock Holding Corporation of India Ltd (SHCIL) and the authorised stock exchanges either directly or through their agents.
However, Small Finance Banks and Payment banks do not offer this option.

6. Sovereign Gold bond scheme 2024 25 Next date ?

The Sovereign gold bond scheme 2024 25 next date will be announced by Reserve Bank of India (RBI) from time to time. The issue date is not yet announced.

7. Sovereign gold bond scheme HDFC

HDFC Bank offers Government issued Sovereign Gold Scheme with a Minimum investment of 1 Gram of Gold and the maximum investment of 4 Kgs for an Individual. The Sovereign gold bond scheme HDFC will have a tenure of 8 Years along with a Fixed interest rate of 2.50% per annum on the Initial Investment amount. These bonds are issued by RBI on behalf of Central government.

8. Sovereign Gold bond scheme ICICI

ICICI Bank offers Government issued Sovereign Gold Scheme with a Minimum investment of 1 Gram of Gold and the maximum investment of 4 Kgs for an Individual. The Sovereign gold bond scheme ICICI will have a tenure of 8 Years along with a Fixed interest rate of 2.50% per annum on the Initial Investment amount. These bonds are issued by RBI on behalf of Central government.

Author is a Qualified CMA with rich industry experience for more than 6 years. He is an All India Ranker (AIR-101) in CMA and also a Semi-Qualified Chartered Accountant having a quite good experience in teaching the subjects of Accounting and Costing to the commerce aspirants.

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