Sovereign Gold Bond series 2: Check steps to invest via Zerodha Kite, Groww, Upstox

Sovereign Gold Bond series 2: Investors have until Friday, September 15, to participate in the Sovereign Gold Bond (SGB) scheme 2023-24 series 2. This investment opportunity provides the opportunity to own paperless gold and earn interest. This series has an issue price of Rs 5,923 per gramme of gold. The online subscriber discount is Rs 50 per gramme.

SGBs are government securities introduced in November 2015 that are denominated in grammes of gold. They intend to decrease the demand for physical gold and encourage investments in financial assets, thereby bolstering India’s financial infrastructure. Eligible purchasers include resident individuals and Hindu Undivided Families (HUF), as well as trusts, universities, and nonprofit organisations.

These bonds are available through a variety of channels, including banks, the Stock Holding Corporation of India Ltd (SHCIL), designated post offices, and reputable stock exchanges such as the NSE and the BSE, as well as brokerage firms.

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Here is how to purchase SGBs through three prominent brokerage platforms: Zerodha, Upstox, and Groww:

How to purchase Sovereign Gold Bond through Zerodha Kite.

1. Check out kite.zerodha.com.
2. Select “Bids.”
3. Enter the desired quantity to invest.
4. Click “Place bid.”

How to acquire SGB through Upstox:

1. First, log in to the Upstox website.
2. Click “SGB” in the menu bar.
3. Examine the SGB’s specifics and select “Apply.”
4. Choose the quantity of units you wish to purchase and examine your order in the fourth step.
5. Select a mode of payment and conclude the transaction.
6. The order will be placed effectively.

How to acquire SGB using Groww:

1. Conduct a search for “SGB” on Groww.
2. Choose the intended quantity of units.
3. Step three is to continue with the application procedure.

In addition to brokerage firms, the following measures must be taken to invest in SGB via internet banking accounts:

1. First, log into the online banking account.
2. Select ‘e-Service’ from the main menu, and then select Sovereign Gold Bond.
3. Next step requires first-time investors to register, review the terms and conditions of the Reserve Bank of India, and proceed. Enter the required information for the SGB scheme and the participant depository from NSDL or CDSL that hosts the demat account.
4. Submit the registration form.
5. After registering, select the ‘Purchase’ option from the header tab.
6. Enter the number of subscriptions and nominee information.
7. To complete the procedure, enter the one-time password (OTP) sent to the mobile phone.

In addition, SGBs can be purchased on the secondary market, even after the last date for subscriptions, through primary issuance by stock exchanges or the Reserve Bank of India (RBI).