What is the last date to invest in the latest Sovereign Gold Bonds (SGB) tranche?

The Government of India, in consultation with the Reserve Bank of India announced the issuance of two more Sovereign Gold Bonds (SGBs) tranches under the current series. The SGB Series 2023-24 Series III opened for subscription on December 18, 2023.

When will SGB Series 2023-24 Series III close?

The current SGB tranche will close for subscriptions on December 22, 2023. The date of issuance in SGB Series III is December 28, 2023.


Also read: Applying for the new Sovereign Gold Bond (SGB) tranche? Here are 15 things you should know

SGB issue price

The issue price is set at Rs 6,199 (Rupees Six thousand one hundred and ninety nine only) per gram of gold. The issue price of the latest SGB is set at Rs 5,926 per gram, which is based on the simple average of closing price [published by the India Bullion and Jewellers Association Ltd (IBJA)] for gold of 999 purity of the last three working days of the week preceding the subscription period. The issue price of the SGBs will be less by Rs 50 per gram for the investors who subscribe online and pay through digital mode.

Also read: How the interest will be paid on the Sovereign Gold Bond subscription amount

Where to buy SGBs

The SGBs will be sold through Scheduled Commercial banks (except Small Finance Banks, Payment Banks and Regional Rural Banks), Stock Holding Corporation of India Limited (SHCIL), Clearing Corporation of India Limited (CCIL), designated post offices, and recognised stock exchanges, viz., National Stock Exchange of India Limited and Bombay Stock Exchange Limited.

Also read:Latest Sovereign Gold Bond (SGB) tranche issue price is the highest since launch in 2015

SGB interest rate

The investors will be paid at a fixed rate of 2.50% per annum payable semi-annually on the nominal value.

Other SGB details

The tenor of the SGB will be eight years, with an option for premature redemption after the fifth year to be exercised on the date interest is payable. The minimum allowable investment will be one gramme of gold. The SGBs will be paid for in cash (up to a maximum of 20,000), demand draft, check, or electronic banking