SGB Scheme 2023-24: A golden opportunity to buy cheap gold

If you are planning to invest in gold then there is a good news for you. The government is giving you a golden opportunity to buy gold at a cheap rate. You can buy cheap gold sitting at home through Sovereign Gold Bond. Here you will get gold at a lower price than the market. It is very important to know how you can invest in Sovereign Gold Bond Scheme and how beneficial it is for you to invest in it.

Actually, the Reserve Bank of India (RBI) has announced Series 4 of the Sovereign Gold Bond Scheme (Sovereign Gold Bond Scheme 2023-24), in which you can apply to invest from today i.e. Monday i.e. 12th February. This issue will be open for five days from 12th February to 16th.

RBI said in a statement that the price of gold bond is Rs 6,263 per gram. In this, it has been decided to give a discount of Rs 50 per gram from the face value to the investors who apply online and make digital payment. RBI said that the issue of gold bonds for such investors will be Rs 6,213.

The Central Bank actually issues bonds on behalf of the Government of India. These can be sold only to resident individuals, Hindu Undivided Families (HUF), trusts, universities and charitable institutions. The maximum investment an individual can make in the Sovereign Gold Bond Scheme is HUF 4 kg, whereas for trusts and other such institutions the maximum investment is 20 kg.

You can buy SGB i.e. Sovereign Gold Bond through Scheduled Commercial Banks (except Small Finance Banks, Payment Banks and Regional Rural Banks), Stock Holding Corporation of India Limited (SHCIL), designated post offices and stock exchanges - National Stock Exchange India Limited (NSE), Can buy through Bombay Stock Exchange Limited (BSE).