How to Buy Sovereign Gold Bonds Online in India? Or do you want to know How to invest in Sovereign Gold Bonds online in 2023?
If you are planning to invest in a government-backed gold investment option that offer investors the opportunity to invest in gold without having to physically hold it, then Sovereign Gold Bonds (or SGBs) are the most tax-efficient gold investment option.
For investors applying for gold bonds online and paying against the application using the digital method, the issue price of the Gold Bonds will be Rs 50 per gram less than the gold bond issue price. You can check historical gold bonds prices to know how the gold bond prices have increased since the launch of these bonds in 2015.
As of now, there are a number of different online platforms that allow you to buy and invest in SGBs. These are like banks, brokerages, and even some of the new online investment platforms. You can also invest in gold bonds using the internet netbanking facility provided by your banks.
In this article, we will see the steps on how to buy Sovereign Gold Bonds online in India in 2023?
How to Buy SGB Online using NetBanking (2023)?
If you have a bank account with online netbanking facility, then you can use it to invest in gold bonds as follows:
- Open your bank’s official website.
- Log into your net-banking account.
- Search for the e-Services or Investments tab and select the ‘Sovereign Gold Bond‘ option. It may have a different name like RBI Gold Bond, SGB or Gold Bonds. Look for the same and select it.
- A window stating all the terms and conditions regarding the gold bond investments will open.
- Carefully go through the features of gold bonds and understand all the guidelines and relevant information. Once satisfied, click on the ‘Proceed.’ Option.
- Fill out the registration form with all the mandatory and optional details and click on ‘Submit‘ after confirmation of all the filled-in details.
- Enter the Gold Bond subscription quantity you wish to invest in the purchase form. You can buy from 1 gram to 4 kg of gold bond.
- You will also have to provide the details of your nominee.
- Click Submit.
How to Buy SGB Online using Demat Account (2023)?
If you have a demat account, then you can use it to invest in gold bonds as follows:
- Open your broker’s official website or app.
- Log into your demat/trading account.
- Search for Bonds tab and the select the ‘Sovereign Gold Bond‘ option. It may have a different name like RBI Gold Bond, SGB or Gold Bonds. Look for the same and select it.
- Now look for the current Sovereign Gold Bond tranches that are open for active subscription.
- Fill out the required details like Gold Bond subscription quantity you wish to invest, and then place an order.
- You can modify the order only till the time offer closes.
- You then need to allocate funds. The funds will be debited from the available cash balance on the last day of the order collection window.
- Your application will be processed and you will be notified if your application is successful. If your application is successful, you will be allotted the SGBs and they will be allotted and credited to your Demat account within 15 days of the closure of the offer.
Who is eligible to invest in the Sovereign Gold Bonds Online (2023) in India?
The following entities are eligible to invest in the Sovereign Gold Bonds in India according to the RBI guidelines are:
- An individual who is a resident of India
- A Hindu Undivided Family or HUF
- Individuals who are subscribing on behalf of a minor
- Charitable organisations, trusts, and universities.
Is It Mandatory to Purchase Gold Bonds Online?
No, it is not mandatory to buy gold bonds online. The RBI permits these bonds to be purchased offline as well.
Investing or Buying Sovereign Gold Bonds Online is a simple and convenient way to invest in gold. By following the steps outlined in this article, you can easily buy SGBs online and start enjoying the benefits of this investment option in India (2023).