RBI to issue new tranche of Sovereign Gold Bonds today: Here's how to buy SGB Scheme 2022-23 – Series III online

The Reserve Bank of India (RBI) will open the next tranche of Sovereign Gold Bond (SGB) Scheme 2022-23 – Series III for subscription from today, 19 December. It will be available for subscription till 23 December. The RBI had earlier announced the issue price of the latest tranche of SGBs. The issue price has been set at Rs 5,409 for one gram of gold. The minimum investment one can make in a gold bond is one gram. The maximum limit of subscription has been set at 4 kg for individuals, 4 kg for Hindu Undivided Families (HUFs), and 20 kg for trusts and similar entities per fiscal year.

Payment for the SGBs can be made via cash (up to Rs 20,000), electronic banking, demand draft, or cheque. The gold bond subscribers will earn interest at a fixed rate of 2.5 per cent per year, which is payable semi-annually on the nominal value. The Sovereign Gold Bond is going to have a tenor of eight years, and investors will get an option of premature redemption after the fifth year. This option can be exercised on the date when the interest is payable.

SGBs are going to be sold via all Scheduled Commercial banks (SCBs), except Small Finance Banks (SFBs), Regional Rural Banks (RRBs) and payment banks. These bonds can also be bought from the Stock Holding Corporation of India Limited (SHCIL), the Clearing Corporation of India Limited (CCIL), and designated post offices. Apart from these, the bonds are going to be sold on National Stock Exchange (NSE) and Bombay Stock Exchanges (BSE), either directly or via agents.

In consultation with the RBI, the Government of India has decided to provide a discount of Rs 50 per gram to those investors who are applying online and paying against the application via digital mode. Here is how you can buy Sovereign Gold Bond Scheme 2022-23 – Series III online:

Steps for buying Sovereign Gold Bond via SBI Net Banking:

Step 1: Log in to the State Bank of India (SBI) Net Banking with your credentials.

Step 2: Then, click on “e-Service” which is visible on the main menu.

Step 3: Now, continue by pressing “Sovereign Gold Bond Scheme”.

Step 4: If you are a first-time investor, you must complete the registration process. Click on “Register” from the header tab, press “Terms and Conditions” then select “Proceed”.

Step 5: Key in all of your required details that are not auto-filled. Then, add the nomination and other necessary details.

Step 6: Now, select the Depository Participant from NSDL or CDSL where your Demat account is held.

Step 7: Post that, enter DP ID, and Client ID and press the “Submit” tab.

Step 8: Continue by confirming the details, and clicking on the “Submit” tab.

Step 9: After you have completed your registration, log in to SBI Net Banking.

Step 10: Click on “Sovereign Gold Bond Scheme”, then choose “Purchase” from the header tab.

Step 11: Click on the tab “Terms and Conditions” and press “Proceed”.

Step 12: Key in the “Subscription quantity” and nominee details.

Step 7: Then, continue by clicking “Submit”.

Step 8: Key in your OTP and press “Confirm”.

Step 9: A new page will open up where you will be able to see all the details regarding your SGB investments.

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