Want to invest in Sovereign Gold Bonds (SGBs) through top Indian banks? Check out step-by-step guide for hassle-free investment.
Sovereign Gold Bonds (SGBs) present a smart alternative to physical gold investment, combining capital appreciation and interest. Issued by the Government of India (GoI), these bonds mitigate risks tied to physical gold. The latest Sovereign Gold Bond Scheme 2023-24 - Series II, available for subscription until September 15, offers one gram of gold at Rs 5,923. Online applications with digital payments enjoy a discount of Rs 50 per gram. The bond's nominal value depends on the average gold price during September 6, 7, and 8, 2023, by the India Bullion and Jewellers Association Ltd (IBJA). Here's how to invest via top bank websites:
Sovereign Gold Bonds via State Bank of India (SBI):
1. Log in to your SBI online banking.
2. Click 'eServices' > 'Sovereign Gold Bond'.
3. Accept terms and conditions, then proceed.
4. Fill out the one-time registration form and submit.
5. Enter subscription quantity and nominee information.
6. Click 'submit'.
Apart from SBI, you can buy via ICICI Bank, PNB, and Canara Bank net banking.
Sovereign Gold Bonds via ICICI Bank (Net Banking):
• Log in to your ICICI net banking.
• Go to 'Invest and Insure' > 'Sovereign Gold Bond'.
• Read details, make payment.
Sovereign Gold Bonds via PNB:
1. Log in to PNB net banking.
2. Find 'Purchase SGB' under other services.
3. Click 'Agree', enter details, and amount.
4. Enter transaction password and submit.
5. Save the acknowledgement receipt.
Sovereign Gold Bonds via Canara Bank:
• Log in to net banking.
• Click 'Apply for SGB' under 'Services'.
• Choose options, enter amount, and units.
• Submit and save the details.
SGBs mature in eight years with a 2.5% annual interest rate.
Read more: What is freedom SIP and how is it different from normal SIP?
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