New Delhi, 2023: Indian investors now have a simpler and more secure way to invest in gold, thanks to sovereign gold bonds (SGBs) available on Upstox, one of India’s largest investment platforms with over 1 crore customers.
What Are SGBs?
SGBs are government-issued bonds that act as a digital alternative to physical gold. The value of these bonds is tied to the market price of gold, offering investors potential capital gains as gold prices rise. In addition, SGBs provide a 2.5% annual interest, paid semi-annually, offering a stable source of income.
Key Features:
Denominations start at 1 gram, with a maximum of 4 kg per financial year for individuals and Hindu Undivided Families (HUFs).
Bonds have an 8-year maturity, with early withdrawal allowed after 5 years. Holding till maturity may provide tax benefits.
Tradable on stock exchanges, providing liquidity.
Online buyers enjoy a Rs 50 per gram discount on the issue price.
Upcoming SGB Tranche (FY 2023-24):
Subscription dates: 19 – 23 June 2023
Allotment date: 27 June 2023
Issue price: Rs 5,926 per gram
Invest in 5 Simple Steps via Upstox:
Login to your Upstox account: https://account.upstox.com/actions
Review SGB details and click ‘Apply’
Select units (1 to 4,000)
Complete payment via your chosen mode
Done! Your order will be sent to the exchange, and allotment status will be shared on 27 June 2023. If allotted, units are credited to your demat account.
Ravi Kumar, Co-Founder & CEO, Upstox, said:
"We are committed to fostering a culture of diverse financial investing. By offering sovereign gold bonds on our app and website, we aim to give our customers a simple, seamless, and user-friendly way to invest in India’s growth story."
Investors can start applying for SGBs on Upstox here: https://account.upstox.com/actions
Authored by: Rachit Sabharwal, Head of Corporate Development, Upstox.
