Step-By-Step Guide On How SBI Customers Can Buy Sovereign Gold Bond Through SBI Online Method

Sovereign Gold Bond (SGB) Scheme December Series III for 2023-2024 has opened for subscription today (December 18). The subscription window for the gold bond scheme will be open till Friday, December 22. SBI Customers who want to apply for the SGB scheme can buy SGB online by following a few simple steps. The Sovereign Gold Bond scheme offers SBI account holders who refrained from buying physical gold because of sky-high gold prices a great opportunity as SGBs are a superior alternative to holding gold in physical form.
The issue price of the current tranche of the gold bonds scheme has been fixed at Rs 6,199 per unit.

How to buy SGB online via SBI net banking

As per RBI instructions "Every application must be accompanied by the 'PAN Number' issued by the Income Tax Department to the investor(s)'' as the PAN number of the first/ sole applicant is mandatory.

How to register for Sovereign Gold Bond (SGB) via SBI net banking?

Step 1: Login to SBI Net Banking using credentials
Step 2: Click on 'e-Service' from main menu
Step 3: Click on ' Sovereign Gold Bond Scheme'
Step 4: You should register if you are a first-time investor. Select 'Register,' from the header tab then 'Terms and Conditions,' then 'Proceed.'
Step 5: Submit all your details that are not auto-filled. Add nomination and other details.
Step 6: Select the Depository participant from NSDL or CDSL where your demat account is held.
Step 7: Enter DP ID, and Client ID and click 'Submit' tab
Step 8: Confirm the details and click ' Submit' tab.

How to buy Sovereign Gold Bond scheme Via SBI Online

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'

For those investors who apply online and make the payment through digital mode, a discount of Rs 50 per gram from the issue price has been allowed. Thus, for such investors, the issue price of the gold bonds will be Rs 6,149 per unit (Rs 6,199 - Rs 50), which is equivalent to one gram of gold.

Six different ways to invest in SGBs:

1. You can invest in SGB Online through net banking.
2. Through the mobile application of your bank.
3. By visiting a bank branch or designated post office physically. Fill the form along with units and submit it along with a Cheque or DD to make payment. Attach your Aadhaar Card and PAN card also.
4. Download the Upstox app to apply for SGBs
5. Apply through Paytm Money
6. Through RBI Retail direct website

Can you apply online for Sovereign Gold Bonds?

Yes. A customer can apply online through the website of the listed scheduled commercial banks. The issue price of the Gold Bonds will be Rs 50 per gram less than the nominal value to those investors applying online and the payment against the application is made through digital mode.

Why should SBI account holders invest in Sovereign Gold Bonds:

There are several advantages of investing in Sovereign gold bonds. Some of them include guaranteed returns of 2.5% per annum payable half-yearly, no storage issues like physical gold, Zero Capital Gain Tax on redemption, liquidity, and Zero GST and making charges.