Investors can participate in the Sovereign Gold Bond (SGB) scheme 2023-24 series 2 till Friday, September 15. This investment opportunity offers a chance to own gold in a paperless form while earning interest. The issue price for this series is set at Rs 5,923 per gram of gold. Online subscribers can enjoy a Rs 50 per gram discount.
SGBs are government securities denominated in grams of gold, introduced in November 2015. They aim to reduce the demand for physical gold and promote investments in financial assets, strengthening India's financial infrastructure. Eligible buyers encompass a wide spectrum, from resident individuals and Hindu Undivided Families (HUF) to trusts, universities, and charitable institutions.
These bonds can be acquired through a variety of channels, including banks, Stock Holding Corporation of India Ltd (SHCIL), designated post offices, and recognised stock exchanges such as the NSE and the BSE and brokerage houses.
Here's how one can make the SGB purchase through three popular brokerage platforms: Zerodha, Upstox, and Groww:
How to buy SGB from Zerodha Kite?
Step 1:
Visit kite.zerodha.com.
Step 2: Click on "Bids."
Step 3: Enter the desired investment amount.
Step 4: Click on "Place bid."
(Note: Investors can access government bonds and SGBs on the Kite web platform. It will soon be available on Kite mobile, as per Zerodha)
How to purchase SGB via Upstox:
Step 1: Log in to the Upstox web platform.
Step 2: Click on "SGB" in the top menu.
Step 3: Review the SGB details and click "Apply."
Step 4: Choose the number of units you want to purchase and review your order.
Step 5: Select a payment mode and complete the payment process.
Step 6: The order will be successfully placed.
How to buy SGB via Groww:
Step 1: Search for "SGB" on the Groww platform.
Step 2: Select the desired number of units.
Step 3: Proceed with the application process.
Apart from the brokerage houses, here are the steps to invest in SGB via net banking accounts:
Step 1: Log in to the net banking account.
Step 2: Select 'e-Service' from the main menu, then choose Sovereign Gold Bond.
Step 3: First-time investors must register, review the Reserve Bank of India's terms and conditions, and proceed. Enter the necessary details for the SGB scheme and the depository participant from NSDL or CDSL, which hosts the demat account.
Step 4: Submit the registration form.
Step 5: After registration, click on the 'Purchase' option in the header tab.
Step 6: Input the subscription quantity and nominee details.
Step 7: Enter the one-time password (OTP) sent to the mobile phone to complete the process.
Furthermore, SGBs can also be acquired from the secondary market, even after the last subscription date, through primary issuance by stock exchanges or the Reserve Bank of India (RBI).
