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Issue price of SGB 2023-24 Series IV is Rs 22 higher than that of 24 karat gold prices of which was around Rs 6,235 per gram on Monday.

You will get Rs 22 discount on gold if you subscribe to the Sovereign Gold Bond (SGB) Scheme 2023-24 Series IV. You can subscribe from Monday, February 12, 2024 to Friday, February 16, 2024. The Reserve Bank of India (RBI) has fixed the issue price at Rs 6,263. This issue price is equivalent to one gram of gold. On Monday, price of one gram of 24 karat physical gold in the market was Rs 6,235. This means, as per Monday’s trading price of the yellow metal, you can buy one gram of gold at Rs 22 discount, and 10 grams at Rs 220 discount. This is because RBI gives Rs 50 discount if you subscribe to the SGB online. The issue price is currently Rs (6,263 – 6,235) = Rs 28 higher than the prevalent price of gold. So, on net basis, retail investors can only get Rs (50 – 28) = Rs 22 discount if they subscribe the bonds digitally.

If you also want your portfolio to shine with the yellow metal, then, you can visit the online website of your bank and apply for the gold bond there itself. You can also pay a visit to your bank branch or any designated post office branch. But today we will see how can you subscribe to the gold bonds sitting at the comfort of your home on your bank’s website or app.

Suppose, you are have a saving or current account with the public sector lender, State Bank of India. Then, you can apply for the gold bond on its website www.onlinesbi.in. You will not have to do any paperwork nor will you have to upload any documents.

Steps to apply for sovereign gold bonds with SBI:

1. Go to www.onlinesbi.com

2. Log in to your  net-banking profile

3. Select e-services

4. Click on Sovereign Gold Bonds

5. Click on Register

6. Fill in the application form

7. A Registration number will be generated.

8. Click on Go Back to Proceeds

9. A new page will throw open

10. Fill in the Subscription quantity, investment details like grams of gold to be invested and nomination details

11. If you like to hold your units in your Demat A/C, then, you will have to select NSDL/CDSL whereever your demat is opened. (This is optional)

12. Enter Demat details which are DP ID and Client ID. (It will take 2-4 weeks for bonds to appear in your Demat account.)

13. Click on Submit

14. Verify your personal information like PAN number, permanent address, correspondence address, etc on the new page that opens

15. Click on Proceed

Once you have successfully completed the application submission process. You will get proof that you have invested in gold bonds. You will get a Certificate of Holding on the date as announced by the RBI after the subscription window of the tranche is closed which on this case is Friday, February 16, 2024. You will get the Holding Certificate via email. All your investment details will be mentioned in this certificate. Bonds will be issued on February 21.