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SGB allotment: Did you apply for the latest tranche of Sovereign Gold Bond Scheme 2023–24 Series IV? Regardless of whether you applied for these gold bonds through online channels or offline avenues, it is important to understand the process of verifying your SGB investments holds paramount importance. The SGB Series 2023-24 Series IV opened for subscription on February 12, 2024, and closed for subscriptions on February 16, 2024.

If you applied for the latest SGB tranche this month, you must be eager to know the allotment status. There are a few easy ways to check this.

“The simplest is to log in to your bank account online and view your purchase history. Most banks directly inform customers about SGB allotment through SMS or email notifications. Additionally, you can visit the RBI website and check the ‘Press Releases’ section for allotment details published periodically,” said Ashish Aggarwal, Director, Acube Ventures

SGB latest tranche allotment date

If the application is successful, the allotment will take place on February 21st.

SGBs purchased via online mode

-If you’ve purchased SGBs online through a Demat account, access your account provided by your bank or brokerage firm.

-Proceed to the “Portfolio” or “Holdings” section, where comprehensive details of your investments are available.

-Within this section, locate the Sovereign Gold Bonds category to verify if the bonds have been allotted.

SGBs purchased via offline mode

-If you have purchased SGBs offline, procure the certificate of holding from the issuing bank, Post Offices, or designated stock exchanges.

-Examine the physical certificate for information about the allotment.

-Ensure to check your email for confirmation as well.

Check email for SGB allotment message

Irrespective of the method of purchase, a digital copy of the certificate will be sent to you via email by the Reserve Bank of India (RBI) to the email address specified in the application form.

Sovereign Gold Bond interest rate

The Reserve Bank of India issues the bonds on behalf of the Government of India. The investors are compensated at a fixed rate of 2.50 per cent per annum payable semi-annually on the nominal value.

According to Ashish Aggarwal, the allotment may take a few weeks after the SGB subscription window closes on February 24th, 2024. Final allotment figures will depend on the total amount invested across categories like individuals, HUFs, trusts, and charitable institutions this year. If the issue is oversubscribed, allotment happens proportionately based on the amount applied for.

So you may get full or partial allotment. Once allotted, SGBs will be credited to your Demat account. You can then monitor their periodic interest payouts and value linked to gold prices, added Aggarwal.

How are SGBs taxed?

Interest is paid at a fixed rate of 2.50% per annum and is fully taxable. However, profits made on redemption are fully tax-free.

Disclaimer: The views and recommendations made above are those of individual analysts, and not of Mint. We advise investors to check with certified experts before taking any investment decisions.

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