How can you subscribe to SGB 2023-24 Series-II?

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You will get Rs 49 discount on gold if you subscribe to the Sovereign Gold Bond Scheme 2023-24 Series -II. You can subscribe from Monday, September 11, 2023 to Friday, September 15, 2023. The Reserve Bank of India (RBI) has fixed the issue price of Rs 5,873 of the gold bond of denomination of one gram under this particular tranche of the overeign Gold Bond Scheme 2023-24 . On Monday, price of one gram of physical gold in the market was Rs 5,922. This means, you can buy one gram of gold at Rs 49 discount, and 10 grams of the yellow metal at Rs 490 discount.

So, 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 sell how can you subscribe to the gold bonds sitting at the comfort of your home on your bank’s website or app.

Suppose, you have a saving or current account with the private sector lender, Axis Bank. Then, you can apply for the gold bond on its website or on its app, ‘Axis Mobile.’ You will not have to do any paperwork nor will you have to upload any documents.

Steps to apply for sovereign gold bonds with Axis Bank:

1. Open the Axis Mobile app

2. Click on Investments

3. Click on Sovereign Gold Bonds

4. Fill in the investment details like grams to be invested

5. Click on accept terms and conditions

6. Select Yes, if you like to hold your units in your Demat

6a. Enter Demat details which are DP ID and Client ID. (It will take 2-4 weeks for bonds to appear in your Demat account.)

7. Select Yes, if you want to add nomination details

8. Click on Next

9. Verify your personal information like PAN no, permanent address, correspondence address, etc on the new page that opens

10. Click on Proceed

Once you have successfully completed the application process. 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, September 15, 2023. You will get the Holding Certificate via email. This certificate is the proof that you have invested in gold bonds. All your investment details will be mentioned in the certificate.

Applying digitally, will give you Rs 50 discount on every gram of the gold bond. You will also save on taxes on maturity proceeds at redemption from fifth year of subscription onwards.