Sovereign Gold Bond 2023-24 Series III: Steps to buy SGB online via net banking

The third tranche of the Sovereign Gold Bond (SGB) scheme for 2023-24 opened for subscription on December 18. The same will be available till December 22. The issuance of the bond will take place on December 28. Banks across the nation offer the option of buying it online.

This opportunity allows investors to consider a secure avenue in gold through the offering by the RBI, priced at ₹6,199 per unit.

Gold has historically been a favorable investment option, and in the tumultuous year of 2023, despite geopolitical tensions and market volatility, it has soared to its lifetime high price of ₹63,630.

According to Nish Bhatt, Founder & CEO of Millwood Kane International, "Gold is offering a 14.95% return this year. If we look at the long-term, its price has more than doubled in the last 10 years. Hence, the scheme is an ideal investment opportunity for investors willing to hold on to their investments for the long term."

Log in to your net banking account.

Step 2: Select 'e-Service' from the main menu and choose 'Sovereign Gold Bond'.

Step 3: For first-timers, select 'Register', review the terms and conditions by the Reserve Bank of India, and proceed.

Step 4: Enter necessary details for the SGB scheme and information about the depository participant from NSDL or CDSL where your demat account is hosted.

Step 5: Submit the registration form.

Step 6: Once registered, choose the purchasing option from the header tab or directly select 'Purchase' for existing users.

Step 7: Input subscription quantity and nominee details on the new page.

Step 8: Enter the one-time password (OTP) sent to your mobile phone to complete the process.

Sovereign Gold Bonds are government securities, substituting physical gold, issued in grams of gold. Investors pay the issue price in cash and upon maturity, the bonds are redeemed in cash.

Issued by the Reserve Bank of India, these bonds have an 8-year lock-in period with three exit options that can be exercised on the interest payment dates in the fifth, sixth, and seventh years.