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

How to Buy Sovereign gold Bond from ICICI Bank

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 the 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 Bond Schemes

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  • Gold Linked Returns Guaranteed by 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.

Also Read Loan against Sovereign Gold Bond from ICICI Bank | Interest Rate | Eligibility

  • 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.

Also Read Sovereign Gold Bond : Best Returns on Gold Investment

When Can I Buy Sovereign Gold Bond in 2022?

Also Read Sovereign Gold Bond through HDFC Bank & HDFC Securities – Demo | Certificate | Status

S. No.TrancheDate of SubscriptionDate of Issuance
1.2022-23- Series IJune 20 – June 24, 2022June 28, 2022
2.2022-23 Series IIAugust 22 – August 26, 2022August 30, 2022

Also Read Sovereign Gold Bond through SBI

How to Buy Sovereign Gold Bond from ICICI Bank?

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Time needed: 3 minutes.

Follow the steps given below for buying SGB through ICICI Net-banking

  1. Login

    Visit ICICI Bank website and log in using your ICICI credential.

  2. Investments and Insurance

    Now go to the “Investments and Insurance” option from the main menu and then select the “Invest Online” option.

  3. Invest Now

    Click on the “Invest Now” button from the Sovereign gold Bond section.

  4. Fill the Application Form

    Account holder details will be auto-filled.

  5. Demat account

    Give details of the Demat account (DP ID and DP client ID) if you wish your SGB into the Demat account. However, this is not a mandatory field.
    The subscriber can sell your bond in the secondary market before maturity using the Demat account.

  6. Units

    Enter the numbers of SGB units. You have to enter a minimum of 2 units and a maximum of 500 units. The system will take the amount automatically based on entered units.

  7. Mobile Number & Email ID

    You can also enter your mobile number and email ID.
    The RBI would send the Sovereign gold Bond holding certificate to the given mail ID.

  8. Checkboxes

    Check the “terms and conditions” box.
    Check the “authority to block the subscription amount into your account” box & “declarations” box.

  9. Submission & Payment

    Now submit the form, then enter the details for payment.
    You would get the thank you message after successful payment.

Also Read Sovereign Gold Bond – Return Calculation 2021

How to Buy Sovereign gold Bond 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

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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.

Also Read RBI Bonds 2021 vs Tax Saving Fixed Deposits vs Sovereign Gold Bonds

Sovereign Gold Bond Certificate

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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.

Also Read Sovereign Gold Bond through Axis Bank or Axis Direct – Demo | How to Sell Sovereign Gold Bonds?

FAQs

Can I use these securities as collateral for loans?

Yes, these bonds are eligible to be used as collateral for loans from ICICI banks.

Can I gift the bonds to a relative or friend on some occasion?

The SGB can be gifted/transferable to anybody who fulfills the eligibility criteria.

If I apply, am I assured of allotment?

The allotment is subject to meeting the eligibility criteria and availability of the application money as per RBI notifications.

What are the tax implications on interest?

Interest on the Bonds will be taxable as per the provisions of the IT Act, 1961.

Also Read How to Buy Sovereign Gold Bond through Bank? | Key Features | Allotment

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