HDFC as a bank allows to buy sovereign gold bonds from its online net banking as well as offline (branches) platforms.
Steps to buy SGB with HDFC Online Net Banking Platform:
- Login to HDFC net banking with your credentials.
- After login, click on Demat Tab >sovereign gold bond > Buy Now
- If you have a demat account with HDFC, you will get SGB in demat format, else you will get physical/e-certificate.
- Fill the application form with quantity and basic details and generate OTP.
- Once you submit an application, money will be blocked from your account. You need to wait for issue date to see the allotment in your bank account.
Limitation of SGB when applying with HDFC Net Banking
- Once an application submitted with HDFC Bank, you can’t track the application or modify the application.
- To modify the SGB application, you need to visit the nearest branch and request for cancelation/modification.
- HDFC Net banking doesn’t provide the option to input your demat information from outside. If you have a demat account with any other vendor/broker, you can’t submit Demat information when purchasing SGB. To include your demat information, you need to submit a physical request once you have SGB holding in your account.
- Minor SGB application can’t be submitted online, To submit an application for Minor you need to submit a physical application in the branch.
