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Sovereign Gold Bond Scheme 2023-24 Series 3: Last Date And How To Apply

Sovereign Gold Bond Scheme 2023-24: A golden opportunity for safe and attractive gold investment! Offered by the Reserve Bank of India, the scheme includes a compensation of 2.50% per annum on individual value during the allotted makeup period and protection against inflation. Enjoy safe investments instead of physical gold and create financial security for the future.

Sovereign Gold Bond Scheme 2023-24 Series 3: Last Date And How To Apply

Sovereign Gold Bond Scheme 2023-24

SGBS 2023-24 Series III is scheduled to launch on December 28. Bonds issued by the Reserve Bank of India, Central Government. Trusts and similar institutions are subject to a maximum limit of 20 visits per financial year under this scheme. The tenure of SSGBs is eight years, preferably with the option of premature redemption after the first year.

Overview Of Sovereign Gold Bond Scheme 2024

FeatureDetails
Scheme NameSovereign Gold Bond Scheme 2024
SeriesSeries III
Subscription PeriodDecember 18, 2023, to December 22, 2023
Issue Price₹6,199 per gram
ObjectiveEncourage secure and attractive investment in gold
PurposeProvide a safe and dependable investment option
Interest Rate2.50% per annum (paid semi-annually)
FeaturesPhysical gold alternative with social and economic security
BenefitsProtection against gold price volatility
Expertise in gold investment
Fixed annual interest for investors
Sovereign Gold Bond Scheme 2024

Sovereign Gold Bond Scheme 2023-24 Series 3

The third tranche of the Sovereign Gold Bond Scheme – SGB 2023-24 Series III opened its doors for subscription on December 18, and the subscription will remain open till December 22. The Reserve Bank of India (RBI) has set the inflation price for the latest lot of gold at ₹6,199 per gram. Love for the yellow metal is a part of the Indian lifestyle and gold is considered a good tool against inflation.

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The Sovereign Gold Bond Scheme provides a golden opportunity for individuals who struggle to purchase physical gold, because apart from this, with minimal issues of security, investors get a compensation of 2.50 percent semi-annually based on a fixed rate.

Objective Of Sovereign Gold Bond Scheme 2023-24

The main objective of the Sovereign Gold Bond Scheme is to provide a safe and attractive option for Indian citizens to invest in gold. Through this scheme, people can invest in social and economic security instead of buying physical gold. It is a safe and reliable investment, which also protects against gold inflation.

Under this scheme, investors get compensation at a fixed annual rate, due to which they continue to get income as per the stipulated time. It is also a safe medium that allows them to have expertise in gold and helps them to invest while boosting the demand for gold.

What Is Sovereign Gold Bond Scheme?

Suvarna Gold Bond Scheme is a financial scheme run by the Government of India that aims to provide people the opportunity to invest in gold safely and profitably. It is a new and secure way of investing in gold in a paperless form in which investors buy gold bonds and get investment benefits with regular interest and currency value appreciation.

This bond directly attempts to motivate people to invest in gold and also provides a safe financial solution to the government. Investors also receive interest at regular intervals, which can be a greater incentive than the physical maintenance of gold.

Under the Suvarna Gold Bond Scheme, investors get the opportunity to invest in gold for a fixed time, and its friendly benefits accrue only to the investors. This scheme is available through government-approved banks and financial institutions so that people can easily invest in it.

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Eligibility Criteria For Sovereign Gold Bond Scheme 2024

Eligibility Criteria for Sovereign Gold Bond Scheme 2024:

  1. The income limit is fixed for investment in the Sovereign Gold Bond Scheme. You have to ensure whether you meet the income limit of the scheme or not.
  2. To apply for Suvarna Gold Bonds you must be an Indian citizen or one who has acquired Indian citizenship.
  3. You must have a bank account to buy the Sovereign Gold Bond, into which you can pay the investment amount and on which the bond can be received.
  4. If you are purchasing a Suvarna Gold Bond through a bank or financial institution, you will need to take into account any commission or brokerage requirements associated with it.
  5. You must have the ability to provide money to invest in Suvarna Gold Bonds.
  6. Individuals working in agriculture-related sectors may also be provided certain exemptions for investing in Suvarna Gold Bonds.
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How To Apply For Sovereign Gold Bond Scheme 2023-24 Series 3

Follow the following steps to apply for Sovereign Gold Bond Scheme 2023-24 Series 3:

  1. The application dates for the new series of Sovereign Gold Bond Scheme are announced by the government. You have to make sure that you get the information you need at that time.
  2. To apply you have to get the application form from the official website of Suvarna Gold Bond Scheme or the local bank.
  3. Along with the application you will be required to submit required documents such as identity certificate, address proof, and bank account details.
  4. Fill out the application form carefully and submit all the required information and documents correctly.
  5. Submit the filled application form and all required documents to your selected bank or financial institution.
  6. After applying, you have to pay the required amount for the Sovereign Gold Bond. You can do it through bank challan or online payment.
  7. After successful payment, you will get the complete details of the Suvarna Gold Bond, and the bond will be issued in your name.

How to buy Sovereign Gold Bond from post offices

How to buy Sovereign Gold Bond from the Post Office:

  1. First, reach your local post office with your identity certificate and required documents.
  2. Fill out the required form at the post office, giving your name, address, and other necessary details.
  3. Get detailed information about the Sovereign Gold Bond from the post office employee, such as financial details, tenure of the scheme, and essential terms of the bond.
  4. Pay the required amount in the stipulated financial year. This amount will be according to the value of the bond.
  5. To confirm the purchase you have made, you will receive a certificate. Keep it safe, as it will confirm your investment.
  6. After payment of your amount, you will receive a Sovereign Gold Bond and inflation confirming your investment.
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After safely buying a Sovereign Gold Bond from the post office, you can invest in it and get income at a fixed rate through gold.

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How to buy Sovereign Gold Bond from banks

How to buy Sovereign Gold Bond from Bank:

  1. First of all, visit your local branch of your bank and get information about buying Sovereign Gold Bonds.
  2. Carry with you the necessary documents to purchase the bonds such as an identity certificate, proof of address, and other relevant documents.
  3. Meet the Financial Officer of the Bank and get proper guidance on the entire process of buying Sovereign Gold Bonds.
  4. Fill out the required form to purchase the bond, giving details of your investment, amount, and other necessary information.
  5. Pay the required amount to the bank as per the value of the bond.
  6. After payment of your amount, receive investment confirmation from the bank, which will contain all the information about the Sovereign Gold Bond you have purchased.

After purchasing a Sovereign Gold Bond, you can invest in it and receive compensation at regular intervals, making your gold investment safe and attractive.

How to buy Sovereign Gold Bond from stock exchanges

How to buy Sovereign Gold Bonds from the Stock Exchange:

  1. First of all, open a trading account on any stock exchange or log in to the one in which you are already registered.
  2. Select a pre-registered and trusted broker that facilitates the buying and selling of Sovereign Gold Bonds.
  3. Open a trading account with the selected broker and follow their instructions.
  4. Place an order for the purchase of Sovereign Gold Bond using the trading platform provided by the broker.
  5. Fill in the required details on the trading platform, such as investment amount, maturity period of the bond, etc.
  6. After confirming the given information, your order will be submitted.
  7. Once your order is completed, you will receive the Inflation and Sovereign Gold Bond in your trading account.

After purchasing a Sovereign Gold Bond through the stock exchange, you can invest and receive regular compensation from the changing values of the monetary value of the bond.

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