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Sovereign Gold Bonds Scheme 2023-24 Series IV: Investing in Sovereign Gold Bonds (SGB) can be an attractive option for many investors. If you’ve recently applied for the latest issue of SGB, it’s important to check your allotment details to stay updated on your investment. Here’s how to do it:
The SGB 2023-24 Series IV opened on February 12, and closed on February 16. Typically, investors receive their SGB allotments within seven days of the closing date.
ET quoted Prathamesh Mallya, DVP-Research, Non-Agri Commodities and Currencies, Angel One, a fintech company, as saying that if the investor applies to SGB issue through his demat account and others, it usually takes a week’s time to see if the said SGB subscription is allotted.
ALSO READ | Invested in Sovereign Gold Bonds? SGBs offer tax-free early redemption within 21-day annual window; here’s how it works
Remember, when you apply for SGB, the insurance is guaranteed, unlike Initial Public Offerings (IPOs) where there’s no assurance of receiving shares. The Reserve Bank of India (RBI) stated that if customers meet eligibility criteria, provide valid identification, and submit application money on time, they will receive the allotment.
As an investor, it’s important to stay updated on your investments and regularly check the allotment details.
How to check Sovereign Gold Bonds allotment after applying online?
Investors can apply for SGBs online through their stockbroker or banks/India Post Payment Bank/others. If applying through a stockbroker, the SGB will be visible in the individual’s demat account, as per RBI guidelines. Alternatively, if applying online through banks or designated institutions, the SGB will be visible through the respective bank’s net banking or other interface. Investors will be notified by banks or designated institutions through SMS, email, or both. It’s important to regularly check your inbox to stay updated.
In addition to notifications from banks and designated institutions, the RBI will also send a certificate of holding via email to SGB investors. You will receive this certificate if you provided your email ID during the SGB application process.
According to RBI FAQs about SGBs, customers will receive a Certificate of Holding on the date of SGB issuance. This certificate can be collected from issuing banks, SHCIL offices, post offices, designated stock exchanges, or agents. Alternatively, if you provided your email address in the application form, you can obtain the certificate directly from RBI via email. Therefore, remember to check the email address you provided during the application to know your SGB allotment status.
ALSO READ | Sovereign Gold Bonds Series IV 2023-24 tranche: This SGB issue is the highest priced till date!
How to check SGB allotment after applying offline?
Individuals applying for SGBs offline will need to collect a physical certificate of holding from their issuing bank or designated institution. Additionally, offline investors will also receive a digital certificate of holding from the RBI, similar to online investors.
It’s important to note that a discount of Rs 50 on the issue price is only available to investors purchasing SGBs online, not to those buying them offline.
SGB in demat account
Sapna Narang, Managing Partner at Capital League, a boutique wealth management firm, adds that SGB allotment typically appears in investors’ demat accounts about two weeks after the issue closes and one week after allotment. This delay is due to SGBs being listed on the stock exchange approximately one week after allotment.
Can you change SGBs bought offline or online to demat?
According to the RBI’s FAQ about SGB, investors can convert their SGBs into demat form even after they are allotted, whether purchased offline or online through banks or other options.
“The bonds can be held in a demat account. A specific request for the same must be made in the application form itself. Till the process of dematerialization is completed, the bonds will be held in RBI’s books. The facility for conversion to demat will also be available subsequent to allotment of the bond,” stated the RBI in the SGB FAQ.
The SGB 2023-24 Series IV opened on February 12, and closed on February 16. Typically, investors receive their SGB allotments within seven days of the closing date.
ET quoted Prathamesh Mallya, DVP-Research, Non-Agri Commodities and Currencies, Angel One, a fintech company, as saying that if the investor applies to SGB issue through his demat account and others, it usually takes a week’s time to see if the said SGB subscription is allotted.
ALSO READ | Invested in Sovereign Gold Bonds? SGBs offer tax-free early redemption within 21-day annual window; here’s how it works
Remember, when you apply for SGB, the insurance is guaranteed, unlike Initial Public Offerings (IPOs) where there’s no assurance of receiving shares. The Reserve Bank of India (RBI) stated that if customers meet eligibility criteria, provide valid identification, and submit application money on time, they will receive the allotment.
As an investor, it’s important to stay updated on your investments and regularly check the allotment details.
How to check Sovereign Gold Bonds allotment after applying online?
Investors can apply for SGBs online through their stockbroker or banks/India Post Payment Bank/others. If applying through a stockbroker, the SGB will be visible in the individual’s demat account, as per RBI guidelines. Alternatively, if applying online through banks or designated institutions, the SGB will be visible through the respective bank’s net banking or other interface. Investors will be notified by banks or designated institutions through SMS, email, or both. It’s important to regularly check your inbox to stay updated.
In addition to notifications from banks and designated institutions, the RBI will also send a certificate of holding via email to SGB investors. You will receive this certificate if you provided your email ID during the SGB application process.
According to RBI FAQs about SGBs, customers will receive a Certificate of Holding on the date of SGB issuance. This certificate can be collected from issuing banks, SHCIL offices, post offices, designated stock exchanges, or agents. Alternatively, if you provided your email address in the application form, you can obtain the certificate directly from RBI via email. Therefore, remember to check the email address you provided during the application to know your SGB allotment status.
ALSO READ | Sovereign Gold Bonds Series IV 2023-24 tranche: This SGB issue is the highest priced till date!
How to check SGB allotment after applying offline?
Individuals applying for SGBs offline will need to collect a physical certificate of holding from their issuing bank or designated institution. Additionally, offline investors will also receive a digital certificate of holding from the RBI, similar to online investors.
It’s important to note that a discount of Rs 50 on the issue price is only available to investors purchasing SGBs online, not to those buying them offline.
SGB in demat account
Sapna Narang, Managing Partner at Capital League, a boutique wealth management firm, adds that SGB allotment typically appears in investors’ demat accounts about two weeks after the issue closes and one week after allotment. This delay is due to SGBs being listed on the stock exchange approximately one week after allotment.
Can you change SGBs bought offline or online to demat?
According to the RBI’s FAQ about SGB, investors can convert their SGBs into demat form even after they are allotted, whether purchased offline or online through banks or other options.
“The bonds can be held in a demat account. A specific request for the same must be made in the application form itself. Till the process of dematerialization is completed, the bonds will be held in RBI’s books. The facility for conversion to demat will also be available subsequent to allotment of the bond,” stated the RBI in the SGB FAQ.
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