How To Buy Sovereign Gold Bonds Online Through SBI Account

Buying gold on Akshaya Tritiya is considered auspicious by many people. To give more options for investors to buy gold, the government has launched Sovereign Gold Bond Scheme, 2018-19-Series-I, ahead of Akshaya Tritiya 2018. To help customers apply for Sovereign Gold Bond Scheme online, SBI provides this facility through its internet banking. "This Akshaya Tritiya, ring in a new chapter to your savings with Sovereign Gold Bonds," SBI said in a tweet. The Reserve Bank of India (RBI) issues sovereign gold bonds on behalf of Government of India. The government first launched the sovereign gold bond scheme in 2015. This scheme allows investors to take exposure to gold, without taking physical possession of the precious metal. Investors can also earn interest.

For those who want to subscribe to Sovereign Gold Bond Scheme online and pay through digital mode, the government is offering a discount. SBI customers who want to apply online for Sovereign Gold Bonds will get a discount. Those investing in Sovereign Gold Bonds through online mode will get a discount of Rs 50 per gram.

In case of Sovereign Gold Bonds 2018-19 - Series I scheme, the issue price is Rs. 3,114 per gram of gold. For investors applying online - where the payment against the application is made through digital mode, the issue price of gold bond will be Rs. 3,064 per gram of gold (Rs. 3,114 - Rs. 50). The bonds are denominated in multiples of a gram of gold.

These bonds offer a fixed interest of 2.50 per cent per annum payable semi-annually on the nominal value of the bonds.

To apply for Sovereign Gold Bonds online, SBI account holders need to log into the bank's Personal Internet Banking portal.

(A snapshot of SBI internet banking portal)

After logging in, SBI account holders need to e-Services tab

(Through the e-Services tab, SBI customers can also access other services)

Thereafter they need to click on the "Sovereign Gold Bond Request" to apply for the bonds.

On the occasion of Akshaya Tritiya 2018, SBI or State Bank of India is also offering discounts and cashback on select jewellery brands. This was said by SBI, the country's largest bank, on microblogging site Twitter. (Read more)

"This Akshaya Tritiya, we wish you and your family joy and prosperity. We have some great discounts and cashback on jewellery brands just for you! Shop with your SBI Debit Card and avail the benefits," SBI said in a separate tweet.