How to Buy Sovereign Gold Bond from ICICI Bank or ICICI Direct? | Review | Certificate | Status

Gold Bond Scheme 2022-23

Sovereign Gold Bonds also called SGBs are government securities denominated in grams of gold.
These SGBs are issued by the Reserve Bank of India on behalf of the Central government of India and are a superior alternative to holding gold in physical form.
The ICICI Bank & ICICI Direct is giving this service to customers online as well as offline.
Customers can subscribe to the SGB at the ease of their homes.
The Bond certificate would be delivered to your mailbox through the RBI. However, customers can collect the hard copy of the certificate from the ICICI Bank branches.
The main features and benefits of Sovereign gold Bond ICICI are:

Top Features and Benefits of Sovereign Gold Bonds Schemes

• Gold Linked Returns are Guaranteed by the Government of India.
• The minimum permissible investment will be 1 unit i.e. 1 gram of gold & the maximum amount subscribed will not be more than 4K units for individuals and HUFs, and 20 kg for Trusts and similar entities, per entity per fiscal year.
• The issue price of the Gold Bonds will be INR 50/- per gram less for those who subscribe online and pay via digital mode.
• The redemption price will be in INR i.e. Indian Rupees based on the previous week’s (from Monday to Friday) simple average of the closing price of gold of 999 purity published by IBJA i.e. India Bullion and Jewellers Association Ltd.
• The subscriber will be compensated at a fixed rate of 2.5per cent per annum payable semi-annually on the initial value of the investment.
• The interest on SGBs shall be taxable as per the provision of IT Act, 1961 and the capital gains tax shall also remain the same as in the case of physical gold.
• The SGBs will be tradable on exchanges from a date to be notified by the Reserve Bank of India.
• A loan facility is available.

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• Free from problems like making charges and cost of storage.
• A nomination facility is available.
• The SGBs will be restricted from sale to resident Indian entities including individuals, HUFs, Trusts, Universities, and Charitable Institutions.
• The SGBs will be denominated in multiples of gram(s) of gold with a basic unit of 1 gram.
• The tenor of the SGB will be for a period of 8 years with an exit option from the 5th year to be exercised on the interest payment dates.

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When Can I Buy Sovereign Gold Bonds in 2022-23?

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How to Buy Sovereign Gold Bonds from ICICI Bank?

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How to Buy Sovereign gold Bonds from ICICI Direct?

• First, log in to ICICIdirect.com using your login credentials.
  
  
  
• Now click on “FD/Bonds” page to invest in Sovereign Gold Bonds online.
  
  

Also Read How to Buy & Sell Sovereign Gold Bond in Zerodha?

Download Application form

The RBI has allowed ICICI Bank and 11 other Public Sector banks ( SBI, HDFC, Axis, etc.) to accept the application for Sovereign gold Bond.

Also Read How to Buy Sovereign gold Bond from ICICI Bank or ICICI Direct?

How to Check the SGB Status?

• If you have purchased a bond online with an ICICI Direct account, then after the issuance of the gold bond, it will reflect in your portfolio. This process will take 1 to 2 weeks.
• In case of offline purchase, you can collect the certificate of holding from the ICICI Bank’s branches.
• The Subscriber will get a digital copy of the certificate in the registered email ID from the RBI.

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Sovereign Gold Bond Certificate

You can collect the ‘Certificate of Holding’ from your nearest ICICI Bank branch if you do not have an email ID.

How do I contact RBI to address my queries regarding SGB Certificate?

A dedicated e-mail has been created by the RBI to receive queries from the subscribers. subscribers can mail their queries to this email id.

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FAQs

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