In partnership with the RBI, the government offers a ₹50 discount per gram below the nominal value to online applicants using digital payment methods. For such investors, the issue price reduces to ₹6,149 per gram. Previously, Series I ran from June 19-23, and Series II from September 11-15.

Sovereign gold bonds, equivalent to government securities in grams of gold, serve as alternatives to physical gold holdings. Investors pay the issue price in cash, and the bonds mature for cash redemption. Issued by the Reserve Bank on behalf of the Government of India, these bonds aim to curb the demand for physical gold and channelise a portion of domestic savings from gold purchases into financial savings.

As per the ministry of finance, the duration of the sovereign gold bonds will span eight years, allowing the option of early redemption after the fifth year. This option can be exercised on the date when the interest is due.

Steps to buy SGBs online through banking platforms

-Log in to your respective online banking account.

-Go to the main menu and choose ‘e-Service’, then click on ‘Sovereign Gold Bond’.

-If you are a new customer, click ‘Register’. Review and accept the terms and conditions specified by the Reserve Bank of India (RBI) before proceeding.

-Provide all necessary details regarding the SGB scheme and information about your depository participant from either CDSL or NSDL, depending on your demat account’s hosting.

-Complete the online registration form and submit it.

-Upon successful registration, access the purchasing option either from the header link/section or by selecting ‘Purchase’.

-Input the quantity you wish to subscribe to and provide nominee details if required.

-To finalise the process, enter the one-time password (OTP) sent to your registered mobile number.

Ways to buy SGBs

These bonds are available for purchase through banks, the Stock Holding Corporation of India Ltd (SHCIL), designated post offices, and recognised stock exchanges, including the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE).

Here are all the ways to buy SGBs:

-Investors have the option to buy gold bonds through commercial banks.

-SGBs can be invested in online via net banking facilities.

-Your bank’s mobile app provides another avenue for SGB investment.

-Visit a designated post office or bank branch to physically buy SGBs. Complete the application form, specify the units, and enclose a cheque or demand draft along with your Aadhaar and PAN card.

-The RBI Retail Direct website offers a platform for SGB investments.

-Investors can also purchase gold bonds through the Stock Holding Corporation of India Limited (SHCIL).

-Reputable stock exchanges also facilitate the purchase of gold bonds for interested investors.