Sovereign Gold Bond Scheme 2023-24 Series IV opened for subscription today at Rs 6,263 per gram. As per the Reserve Bank of India (RBI), it will remain open until February 16, 2024. One can buy a minimum of 1 gram and a maximum of 4 kilograms online or offline through scheduled commercial banks, designated post offices, the Stock Holding Corporation of India (SHCIL), the Clearing Corporation of India (CCIL), and the stock exchanges.

One can also buy these SGBs via RBI’s Retail Direct portal. All online purchases will get a discount of Rs 50 per gram. The issue price is Rs 6,213 per gram.

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SGB Scheme 2023-24 Series IV

Gold investment is considered a safe investment tool in a volatile market. Sovereign Gold Bond Scheme are cost-effective as they offer tax benefits on capital gains at maturity. Although SGBs mature in eight years, premature withdrawals are allowed after the fifth year. If sold before maturity, the profits are taxable; after maturity, the proceeds are tax-free in the hands of investors. Investors can also sell the bonds within a fortnight of their purchase in the secondary market. The long-term gains are also subject to indexation benefits if the bonds are transferred to someone else.

Premature withdrawal requests can be made to the banks, post offices, etc., from 1-30 days before the coupon payment date. The proceeds are credited to the investor’s bank account.

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SGB guarantees a 2.5 per cent interest rate per annum, is paid semi-annually, and is taxable. SGB 2023-24 Series IV is the last tranche of the SGB 2023-24 series. The first series was issued in 2015, matured in 2023, and generated 12.9 per cent annual returns.