Sovereign Gold Bonds 2023-24 Series IV Open for Subscription at ₹6,263 per Gram

Summary:

The Reserve Bank of India (RBI) has announced the issue price and subscription dates for the fourth tranche of Sovereign Gold Bonds (SGBs) for the 2023-24 series.
The issue price is set at ₹6,263 per gram of gold, based on the average closing price of gold in the three working days preceding the subscription period (February 7-9, 2024).
The subscription window opens on Monday, February 12, 2024, and closes on Friday, February 16, 2024.
The bonds will be issued on February 21, 2024, with a maturity period of eight years.
Investors applying online and paying digitally get a discount of ₹50 per gram, bringing the effective issue price down to ₹6,213.
Key features of the SGBs include:
- Guaranteed returns of 2.50% per annum payable semi-annually.
- Tax exemption on capital gains upon maturity if held till maturity.
- No capital gains tax on interest earned.
- Sovereign guarantee by the Government of India.

Conclusion:

The Sovereign Gold Bonds offer an attractive investment option for individuals seeking to diversify their portfolio and benefit from potential gold price appreciation. The guaranteed interest rate and tax benefits further enhance the appeal of these bonds. However, investors should carefully consider their risk appetite and investment goals before subscribing.

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