Sovereign Gold Bond 2022-23 (Series IV) has opened for subscription today. In the last 7 years, SGB price has increased by around 109%, data on the RBI website shows. The issue price of the Sovereign Gold Bond tranche offered to subscribers in November 2015 was Rs 2684. The price of the latest SGB issue is Rs 5611 per gram of gold.
“In terms of Government of India Notification No.4(6)-B(W&M)/2022 dated December 15, 2022, Sovereign Gold Bonds 2022-23 (Series IV) will be opened for subscription during the period March 06-10, 2023 with Settlement date March 14, 2023. The issue price of the Bond during the subscription period shall be ₹5,611 (Rupees Five Thousand Six Hundred Eleven only) per gram, as also published by RBI in their Press Release dated March 03, 2023,” the Department of Economic Affairs, Ministry of Finance said in a statement dated March 3, 2023.
Sovereign Gold Bond 2022-23 (Series IV): Key dates
You can subscribe to Sovereign Gold Bond 2022-23 (Series IV) starting from today (March 6). The subscription facility will be available till March 10, 2023, according to the statement.
Sovereign Gold Bond 2022-23 (Series IV): Price
The price of the Sovereign Gold Bond 2022-23 (Series IV) has been fixed at Rs 5611 per gram. You can get a discount of Rs 50 is applying online and making the payment through digital mode. The price for an online subscription will be Rs 5561 per gram of gold.
How to apply
You can apply for SGBs through some designated Scheduled Commercial Banks, Post Offices, Stock Holding Corporation of India, Clearing Corporation of India and recognized stock exchanges (NSE, BSE
Also Read: Sovereign Gold Bond Scheme 2022-23 (Series III) – Issue price, date, benefits and where to invest
SGB Eligibility: Who can apply?
Sovereign Gold Bonds can be subscribed by resident individuals, Trusts, HUFs and Charitable Institutions. It can also be subscribed by an individual on behalf of a minor child, or jointly with any other individual.
SGB Interest Payment
The interest on SGB will commence from the date of issue and be paid at a fixed rate of 2.5% per annum on the nominal value of the bond. The interest will be paid half-yearly while the last interest will be payable along with the principal on maturity after the expiration of 8 years from the date of the issue of bonds.
Also Read: 5 reasons why SGB is a better way to invest in gold
SGB Tax Benefit
SGB provides tax exemption on the capital gains arising on redemption of the bonds. The indexation benefit is also provided for the long-term capital gains arising to any person on the transfer of the bond.