The Sovereign Gold Bond Scheme 2024 was launched by the government of India. The Government of India along with the Reserve Bank of India authorities launched the Sovereign Gold Bond Scheme 2024. All the investors in India who want to invest in gold but don’t want to keep their physical assets can avail the benefits of the scheme 2024. The Reserve Bank of India has fixed the price of gold per 1 gram under the scheme 2024 at INR 6,263. The subscription for the Sovereign Gold Bond 2024 will open from 12th February to 16th February 2024.
Sovereign Gold Bond Scheme New Series 2024
The Government of India announced the launch of the Sovereign Gold Bond Scheme Series IV for all the citizens of India who want to invest in gold. All the citizens who want to purchase gold not as a physical asset but as a digital asset can invest their money in the scheme. The RBI has fixed the price of gold under the scheme at INR 6,263 per gram. The authorities have also provided a discount for all the investors who are going to apply online and make the payment digitally. All the applicants who apply and make the payment online will get a discount of INR 50 per gram of gold for their purchase.
Also Read: Government Schemes List
The objective of Sovereign Gold Bond 2024
The main objective of launching the Sovereign Gold Bond Scheme 2024 is the make investors make their investment in gold. All the investors who want to invest in digital gold can fill out the application form for the Sovereign Gold Bond 2024. All the investors who are interested in the Sovereign Gold Bond 2024 must fill out the subscription form before the last date 16th February 2024. The tenure of the Sovereign Gold Bond 2024 is 8 years but the investors can make a premature redemption after 5 years of the investment. With the help of this scheme, the citizens of India can invest in Gold without keeping the physical asset.
Key Highlights of Sovereign Gold Bond Scheme
| Name of the scheme | Sovereign Gold Bond Scheme |
| Launched by | Government of India |
| Objective | Provide digital gold |
| Beneficiaries | Citizens of India |
| Official website |
Eligibility Criteria
- The applicant must be a permanent resident of India.
- The applicant must want to invest in digital gold.
Benefits of the scheme
- The applicants can invest in Gold without keeping the physical asset.
- The applicants just go to the official website to invest in the Sovereign Gold Bond.
- All the applicants who will fill out the registration form and payment online will get a discount of INR 50 per gram.
- The investors are allowed to make a premature redemption after 5 years.
- The risk under the scheme is very low because the price of gold is fixed by the authorities.
Important Dates
- The subscription for the Sovereign Gold Bond is open from 12th February to 26th February.
- The issuance process will start on 21st February 2024.
Required Documents
- Aadhar card
- PAN card
- Domicile certificate
- Bank account details
- Email ID
- Active mobile number
Sovereign Gold Bond Price 2024
- The price of gold under the Sovereign Gold Bond is fixed by the RBI at INR 6,263 per gram.
Taxation of Sovereign Gold Bonds
- Interest is paid under the Sovereign Gold Bond 2024 at is fixed rate of 2.50% per annum and is fully taxable. However, profits made on redemption are fully tax-free.
Sovereign Gold Bond Series Series Wise Details 2023-24
| Tranche | Date of Subscription | Date of Issuance | Issue price |
| 2023-24 Series I | June 19 – June 23, 2023 | June 27, 2023 | Rs 5,926 per gram |
| 2023-24 Series II | Sep 11-Sep15, 2023 | September 20, 2023 | Rs 5,923 per gram |
| 2023-24 Series III | Dec18 – Dec 22, 2023 | December 28, 2023 | Rs 6,199 per gram |
| 2023-24 Series IV | Feb 12 – Feb 16, 2024 | February 21, 2024 | Rs 6,213 per gram |
How to Sovereign Gold Bond Scheme Benefits
- To Sovereign Gold Bond Benefits the applicant can go to the official website.
- On the home page click on the option Apply Online.
- A new page will appear on your screen.
- Enter all the details that are asked and attach all the necessary documents.
- Click on the option Submit to complete your process.
Contact Details
- mailto:sgb@rbi.org.in
FAQs
The price of gold under the Sovereign Gold Bond Scheme 2024 is INR 6,263 per gram.
The interest of 2.5% per gram will be given to the investors under the Gold Bond Scheme 2024.
The tenure of the Gold Bond Scheme 2024 is 8 years.
16th February 2024 is the last date of subscription of Sovereign Gold Bond Scheme 2024.