Sovereign Gold Bond Scheme 2021: Here’s How To Invest In SGBs Online From SBI

The country's largest lender in a tweet mentioned reasons to invest in Sovereign Gold Bonds sayings customers can directly invest in these bonds under its e-services.

File Photo.

Those looking to invest in gold bonds, here’s a golden chance to subscribe to the latest tranche of sovereign gold bonds (SGB) which opened on May 17. The issue price for Scheme has been fixed at Rs 4,777 per gram. The country's top lender State Bank of India (SBI) provides the option of buying SGBs online.

In a tweet, the bank said, "Here's a golden opportunity! 6 golden reasons to invest in Sovereign Gold Bonds. SBI customers can directly invest in INB under e-services."

The issue will close on May 21 and the bonds will be issued on May 25. Also, those buying online can avail a discount of Rs 50 per gram on the issue price for which the payment is made through digital mode. For such investors, the issue price of Gold Bond will be Rs 4,727 per gram of gold.

Here's how to invest in SGB through SBI

Firstly, log in to your SBI net banking account

Then click on eServices and go to ‘Sovereign Gold Bond’

Select 'terms and conditions' and click on ‘proceed’

Just fill in the details in the registration form.

Then click on submit

Enter the subscription quantity and nominee details in the purchase form

Lastly, click on the ‘submit’ button to process the purchase

Investors can also buy gold bonds from commercial banks, Stock Holding Corporation of India Limited (SHCIL), post offices designated by RBI, and recognized stock exchanges.

The sovereign gold bond scheme was launched in November 2015 with an aim to reduce the demand for physical gold and divert a part of the domestic savings used in purchasing gold into financial savings.