The Reserve Bank of India announced on Friday that the issue price for the latest tranche of the Sovereign Gold Bond Scheme 2022-23, which will be open for subscription for five days starting on Monday (December 19, 2022), has been set at Rs 5,409 per gramme of gold.

The subscription period for Series III of the Sovereign Gold Bond Scheme 2022-23 runs from December 19-23, 2022. According to a press release from the RBI dated December 16, 2022, the issuance price of the Bond during the subscription period will be Rs 5,409 (Rupees Five Thousand Four Hundred Nine only) per gramme.

After discount

In agreement with the Reserve Bank of India, the Indian government has decided to grant investors who apply online and pay for their applications using digital methods a discount of 50 rupees per gramme compared to the nominal value. The issuing price of a gold bond for these investors will be Rs. 5,359/- (Rupees Five Thousand Three Hundred and Fifty Nine only) per gramme.

SGB details

The SGB will have an 8-year tenor and an exit option that can be used on interest payment days that begins in the fifth year. The nominal value will be paid to investors at a fixed rate of 2.50 percent annually, payable every other year. The least amount of gold that can be invested is one gramme, and the maximum amount that can be subscribed each fiscal year for individuals, HUFs, and trusts and other similar entities is four kilogrammes, four kilogrammes, and twenty kilogrammes, respectively (April- March).

It should be noted that the annual cap will cover both bonds bought on the secondary market and those subscribed for in various tranches during the government’s first issuance.

How to buy Sovereign Gold Bond scheme

through SBI

Step 1: Login SBI Net Banking using credentials

Step 2: Click on ‘e-Service’ from main menu

Step 3: Click on ‘Sovereign Gold Bond

Scheme’

Step 4: Select ‘Purchase,’ from header tab

Step 5: Select the tab “Terms and Conditions’

tab and Click ‘Proceed’

Step 6: Enter ‘Subscription quantity’,

nominee details

Step 7: Click on ‘Submit’

Step 8: Enter your OTP and click ‘Confirm’ In a new page you will find all the details of your SGB investments.