Investing in Sovereign Gold Bonds (SGBs) is a prudent financial move, but keeping track of your allotment status is equally crucial. Discover the hassle-free ways to confirm your SGB investments and stay informed about the latest tranche allotment.
SGB Allotment: Applied for latest tranche of Sovereign Gold Bond? Here is how you can check your issuance status
Introduction: Sovereign Gold Bonds are a favored investment, and checking the allotment status is imperative for investors in the latest tranche – Series IV of the Scheme 2023–24. The subscription window for this series opened on February 12, 2024, and closed on February 16, 2024. Now, let’s dive into the simple steps to verify your SGB allotment.
Checking Allotment Status: Online Mode Purchase
- Log in to your Demat Account:
- Access your online Demat account provided by your bank or brokerage firm.
- Navigate to the “Portfolio” or “Holdings” section to find details of your investments.
- Locate the Sovereign Gold Bonds category to verify allotment.
- Bank Notifications:
- Many banks notify customers about SGB allotment through SMS or email notifications.
- Check your purchase history online within your bank account for instant updates.
- RBI Website:
- Visit the RBI website and check the ‘Press Releases’ section periodically for official allotment details.
Checking Allotment Status: Offline Mode Purchase
- Certificate of Holding:
- If purchased offline, obtain the certificate of holding from the issuing bank, Post Offices, or designated stock exchanges.
- Examine the physical certificate for information about the allotment.
- Email Confirmation:
- A digital copy of the certificate will be sent to your email by the RBI.
- Check your email inbox, as the confirmation will be sent to the address specified in the application form.
SGB Allotment Date: If the application is successful, the allotment for the latest tranche (Series IV) will occur on February 21, 2024.
Tax Implications and Final Allotment: Interest on SGBs is fixed at 2.50% per annum, fully taxable. However, profits from redemption are tax-free. The final allotment figures depend on the total investment and category-wise subscriptions, and if oversubscribed, allotment occurs proportionately.
Conclusion: Stay informed about your SGB investments by following these straightforward steps. Whether purchased online or offline, these methods ensure you are updated on the status of your Sovereign Gold Bond allotment.
