India's largest lender State Bank of India (SBI) offers the option of buying sovereign gold bonds (SGB) online. The issue price for Sovereign Gold Bond Scheme 2021-22 Series-I has been fixed at Rs 4,777 per gram. The latest tranche of SGB opened for subscription on May 17.
"Here's a golden opportunity! 6 golden reasons to invest in Sovereign Gold Bonds. SBI customers can directly invest in INB under e-services," SBI said in a tweet.
On May 21, the issue will close and, on May 25, the bonds will be issued. Discount of Rs 50 per gram from the issue price to those investors who apply online and the payment is made through digital mode decided after the Government of India in consultation with the Reserve Bank of India. The issue price of Gold Bond will be Rs 4,727 per gram of gold for such investors.
Sovereign gold bonds through SBI: Here is a step-by-step guide:
-Log in to your SBI net banking account
-Click on eServices and go to ‘Sovereign Gold Bond’
-Select 'terms and conditions' and click on ‘proceed’
-Fill the registration form. This is a one-time registration
-Click on submit
-Enter the subscription quantity and nominee details in the purchase form
-Now, click on ‘submit’
Commercial banks, Stock Holding Corporation of India Limited (SHCIL), post offices designated by RBI and recognised stock exchanges offer investors to buy gold bonds.
To reduce the demand for physical gold and shift a part of the domestic savings -- used for the purchase of gold -- into financial savings in November 2015, the sovereign gold bond scheme was launched.
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