How to buy Sovereign Gold Bonds (SGB) online through SBI, HDFC Bank, PNB, Canara Bank, ICICI Bank

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The latest tranche of Sovereign Gold Bond Scheme 2023-24 – Series II was opened for subscription on September 11 and it will be available till September 15, 2023. The nominal value is Rs 5,923 per gram of gold. The issuance price of the Gold Bonds would be Rs 50 per gram less than the nominal value for investors who apply online and pay against the application using a digital means.

The nominal value of the bond based on the simple average of closing price [published by the India Bullion and Jewellers Association Ltd (IBJA)] for gold of 999 purity of the last three working days of the week preceding the subscription period, i.e. September 06, September 07, and September 08, 2023.

Here is a look at how to buy SGB on various bank websites.

How to buy SGB online via SBI net banking

How to register for Sovereign Gold Bond (SGB)
Step 1: Login SBI Net Banking using credentials
Step 2: Click on ‘e-Service’ from main menu
Step 3: Click on ‘ Sovereign Gold Bond Scheme’
Step 4: You must register if you are a first-time investor. Select ‘Register,’ from header tab then ‘Terms and Conditions,’ then ‘Proceed.’
Step 5: Enter all your details that are not auto-filled. Add nomination and other details.
Step 6: Choose the Depository participant from NSDL or CDSL where your demat account is held.
Step 7: Enter DP ID, Client ID and click ‘Submit’ tab
Step 8: Confirm the details and click ‘ Submit’ tabHow to buy Sovereign Gold Bond scheme through SBI
Step 1: Login SBI Net Banking using credentials
Step 2: Click on ‘e-Service’ from main menu
Step 3: Click on ‘Sovereign Gold Bond Scheme’
Step 4: Select ‘Purchase,’ from header tab
Step 5: Select the tab ‘Terms and Conditions’ tab and Click ‘Proceed’
Step 6: Enter ‘Subscription quantity’, nominee details
Step 7: Click on ‘Submit’
Step 8: Enter your OTP and click ‘Confirm’
In a new page you will find all the details of your SGB investments.

How to buy SGB online via ICICI Bank net banking

Step 1: Login ICICI net banking using credentials.
Step 2: Select Invest and Insure
Step 3: Select Sovereign Gold Bond
Step 4: Make payment.

How to buy SGB online via HDFC Bank net banking

Step 1 – Login into your HDFC net banking
Step 2 – Click on the ‘Offers’ tab in the menu bar
Step 3 – Click on ‘Buy now’ on SGB banner. Note: If there is no active SGB subscription, you will not see the SGB banner.
Step 4 – Click on ‘Ok” on Pop up message.
Step 5 – Another popup will appear regarding ‘demat account must be activated if you want to receive your SGB in Demat from’. Click on ‘Ok”.
Step 6: Your basic details will be auto-filled like customer ID name, DOB, address, and PAN number.
Step 7: Enter the gold units that you want to buy. Enter the nominee details.
Step 9: Tick the ‘ I have read and understand terms & conditions” box. Click on the ‘Generate OTP’ button.
Step 10 – Submit the OTP that you receive on your mobile number.

You will receive the redemption price—equivalent to the gold market price in effect on the redemption date when you redeem your SGB.

How Canara Bank customers can buy SGB

Step 1: Login net banking using credentials.
Step 2: Under Services, click on ‘Apply for SGB’ from others tab.
Step 3: Click on Subscribe. Select details from dropdown, enter amount and units and click on ‘Submit’.
Step 4: Verify all the details and click Submit

How to buy SGB via PNB

Step 1: Login PNB using credentials
Step 2: Under other services, click on ‘Purchase SGB’.
Step 3: Click on Agree on the terms and conditions tab.
Step 4: Enter customer id, account number and other details and click ‘Ok’.
Step 4: Enter gold units you wish to buy, depository type and click on ‘Continue’.
Step 5: Enter transaction password and click ‘Submit’.
Step 6: Click ‘Ok’ on the next page after verifying details. You will receive acknowledgment receipt.

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