Sovereign Gold Bond Scheme 2023–24 Series IV: What is the allotment date of the latest SGB tranche? (2024)

The government along with the Reserve Bank of India (RBI) announced the Sovereign Gold Bond Scheme 2023–24 Series IV schedule for the fiscal year 2023-2024. The SGB Series 2023-24 Series IV opened for subscription on February 12, 2024. The current SGB tranche will close for subscriptions on February 16, 2024.

SGB 2023-24 Series IV issue price

The issue price of the SGB 2023-24 Series IV is Rs 6,263. For online payments, Rs 50 will be deducted, bringing the issue price to Rs 6,213.

Also read: Latest Sovereign Gold Bond tranche open for subscription: 5 ways to invest in SGB 2023-24 Series-IV

How many days it takes for SGB to reflect in demat account?

The allotment will be done on February 21, if the application is successful.

According to the Kotak Securities website, “The process is relatively straightforward if you have purchased SGBs online using a Demat account. After the issuance, it will reflect in your Demat account portfolio. However, please note that it may take approximately 1 to 2 weeks for the SGBs to appear in your portfolio.”

Also read: Today is last day to invest in Sovereign Gold Bonds (SGB) 2023-24 Series-IV: 8 important things to know

After successful allotment, log in to your account and go to the portfolio area. You should be able to find out the details of your SGB holdings, such as the number, series, issuance date, maturity date, and other pertinent information, in this section.

SGB interest rate

The investor receives a fixed interest rate of 2.5%. per annum for the current series payable semi-annually on the nominal value. The fixed interest earned is independent of the capital appreciation of Gold Bonds.
"In terms of Government of India Notification F.No.4(6)-B(W&M)/2023 and Reserve Bank press release dated December 08, 2023, the Sovereign Gold Bond Scheme 2023-24 - Series IV will be open for subscription during February 12–16, 2024. The nominal value of the bond based on the simple average of closing price [published by the India Bullion and Jewellers Association Ltd (IBJA)] for gold of 999 purity of the last three working days of the week preceding the subscription period, i.e. February 07, February 08 and February 09, 2024 works out to Rs 6,263/- (Rupees Six thousand two hundred and sixty three only) per gram of gold. The government of India, in consultation with the Reserve Bank, has decided to offer a discount of Rs 50/- per gram less than the nominal value to those investors applying online and making the payment against the application through digital mode. For such investors, the issue price of Gold Bond will be Rs 6,213/- (Rupees Six thousand two hundred and thirteen only) per gram of gold," stated an RBI press release dated February 9. 2024,” stated the RBI in a press release issued on February 9, 2024.

Also read: Latest Sovereign Gold Bond tranche open for subscription: 5 ways to invest in SGB 2023-24 Series-IV

Sovereign Gold Bond tenor

The tenor of the bond will be for 8 years with an exit option from 5th year onwards to be exercised on the interest payment dates.

SGB redemption

The redemption price will be determined in Indian rupees and will depend on the simple average of the closing price of gold of 999 purity over the preceding three business days from the date of repayment, as reported by the India Bullion and Jewellers Association Limited.

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