Sovereign Gold Bonds 2024, SGB Series-IV Last Date: The public issue of Sovereign Gold Bond Series IV is closing on Friday, February 16, 2024. Since the last day to purchase Sovereign Gold Bond is today, investors who don’t want to keep gold in physical form can purchase it in bond form through the SGB scheme. Under the scheme, government and private banks and post offices provide an opportunity to invest in 99.9 per cent pure gold of 24 carats. The Sovereign Gold Bond Series IV scheme is offering gold at the price of Rs 6,263 per gramme. These bonds have government backing since they are issued by the Reserve Bank of India (RBI).

Unlike many fixed interest rate schemes, sovereign gold bonds are not available in banks and post offices year-round. The RBI issues them from time to time. Before the current SGB scheme, there was a chance to buy these bonds till December 22. Most financial experts recommend including gold in the portfolio, but it is always good to consult your financial expert before investing in any type of investment scheme. 

Sovereign Gold Bonds 2024, SGB Series-IV: Benefits?

The biggest advantage of Sovereign Gold Bond is that at the time of maturity, the investor gets money as per gold’s market rate, and secondly, 2.5 per cent annual interest is also offered to the bondholders.

Long-term capital gains tax is also not applicable to the returns received.

Apart from this, bond purchase does not come under the purview of GST, a 3 per cent GST is levied on physical gold.

If investors buy sovereign gold bonds through online payment, they get a discount of Rs 50 per gramme.

It also provides a loan option, where investors can use sovereign gold bonds as collateral.

Sovereign Gold Bonds 2024, SGB Series-IV: Where to buy

– Can be bought online and offline from banks

– Are also available at post office

– Can be purchased through stock holding corporation

– Can also be bought from BSE and NSE platforms

Sovereign Gold Bonds 2024, SGB Series-IV: How much gold can one buy?

Any person can purchase gold bonds worth at least 1 gramme and a maximum of 4 kg of gold in a financial year.

The tenure of Sovereign Gold Bond is 8 years from the date of issue.

However, pre-mature redemption can be done after 5 years.

You can sell Sovereign Gold Bond through banks, Stock Holding Corporation of India Limited (SHCIL), post offices and stock exchanges- BSE and NSE.