Sovereign Gold Bond Scheme : Series -I (2023-24)

The Sovereign Gold Bond (SGB) Scheme 2023-24, announced by the Government of India, offers individuals and eligible entities an opportunity to invest in gold in a convenient and secure manner. The SGBs are issued by the Reserve Bank of India (RBI) on behalf of the government, serving as an alternative to physical gold investments. Here are the essential details and features of the SGB Scheme 2023-24.

Eligibility: The SGBs are available for purchase to the following categories:

✔ Resident individuals
✔ Hindu Undivided Families (HUFs)
✔ Trusts
✔ Universities
✔ Charitable Institutions
Denomination: The SGBs are denominated in multiples of grams, with the basic unit being one gram of gold.
Tenor: The maturity period for SGBs is eight years. However, investors have the option of premature redemption after the fifth year, which can be exercised on the date when the interest is payable
Investment Limit: The minimum permissible investment limit is one gram of gold. The maximum subscription limits for different entities are as follows:

✔ Individuals: 4 kilograms per fiscal year (April-March)
✔ HUFs: 4 kilograms per fiscal year
✔ Trusts and similar entities: 20 kilograms per fiscal year