Closed the account in which SGB interest is credited

[federer.reddevil]

I had a BoB savings account and I bought a SGB last year using that later I closed that account now only got to know that SGB interest will be credited in the same account. Anyone have any idea how to change the account number to which the interest will be credited and how to get the interest amount that I missed by closing the account?

Pls help all help is appreciated.

@TechnoFino @Wealth is my birth right!

 

[Wealth is my birth right!]

I had a BoB savings account and I bought a SGB last year using that later I closed that account now only got to know that SGB interest will be credited in the same account. Anyone have any idea how to change the account number to which the interest will be credited and how to get the interest amount that I missed by closing the account?

Pls help all help is appreciated.

@TechnoFino @Wealth is my birth right!

Definitely closed accounts will not get a credit and funds got returned to sender
Reg modification in SGB there will be a condition there should be only one Investor ID for one subscriber so u can’t do anything from bank side
Check with SGB team side for providing new account details

 

[federer.reddevil]

Definitely closed accounts will not get a credit and funds got returned to sender
Reg modification in SGB there will be a condition there should be only one Investor ID for one subscriber so u can’t do anything from bank side
Check with SGB team side for providing new account details

SGB team means who should I contact RBI? Coz I tried contacting BoB they said they have no idea about this

 

[panchabhut]

the SGB are not through demat acct? if in demat, updating bank acct in demat should update for all.
SGB interest is paid by NSDL through HDFC bank

 

[federer.reddevil]

the SGB are not through demat acct? if in demat, updating bank acct in demat should update for all.
SGB interest is paid by NSDL through HDFC bank

So you are telling me I would have received the interest in the bank account linked to my demat account?

 

[federer.reddevil]

I checked the statement of my IndusInd account linked in my Demat Account its not credited there maybe because I bought it through the netbanking of BoB I think it is linked to BoB Account which I closed

 

[yolofino]

I had a BoB savings account and I bought a SGB last year using that later I closed that account now only got to know that SGB interest will be credited in the same account. Anyone have any idea how to change the account number to which the interest will be credited and how to get the interest amount that I missed by closing the account?

Pls help all help is appreciated.

@TechnoFino @Wealth is my birth right!

From where did you buy the SGB? From your bank or from your broker (share market)?

If it's the former, contact RBI, there should be a dedicated email id for SBG related issues and if it's the later, just update your new bank account with your broker/demat.

 

[federer.reddevil]

From where did you buy the SGB? From your bank or from your broker (share market)?

If it's the former, contact RBI, there should be a dedicated email id for SBG related issues and if it's the later, just update your new bank account with your broker/demat.

I bought it from my bank anyone knows the email id coz Ive searched google couldnt find any so mailed normal RBI support

 

[panchabhut]

I checked the statement of my IndusInd account linked in my Demat Account its not credited there maybe because I bought it through the netbanking of BoB I think it is linked to BoB Account which I closed

Are the SGB held in your demat acct? it is possible to buy through netbanking but still get them credited to your demat acct. So depends on how you purchased them
You should have got allotment email at the time of purchase. check that mail.

 

[federer.reddevil]

Yes it is held in my demat account but amount is not credited to the bank account linked with my demat so I think its just showing up in my demat but money credit is going to my closed BoB account

 

[panchabhut]

Yes it is held in my demat account but amount is not credited to the bank account linked with my demat so I think its just showing up in my demat but money credit is going to my closed BoB account

that should not be the case. contact your demat issuer.

 

[federer.reddevil]

It is Groww which is the best method I can ask them mail or twitter?

 

[ramirami]

Are you sure the SGBs are in your demat account? Note that if you did not get a paper SGB certificate, that does not necessarily mean they are in your demat account. Groww uses CDSL so login to CDSL Easi - https://web.cdslindia.com/myeasinew/home/login and check if the SGB are in your demat account. If they are, I'd expect interest to be credited to the bank account linked on groww. If they are not, I think you should contact Bank of Baroda.

Banks rarely put SGBs in your demat account - did you give your CDSL BOID to BoB while purchasing?

 

[federer.reddevil]

Are you sure the SGBs are in your demat account? Note that if you did not get a paper SGB certificate, that does not necessarily mean they are in your demat account. Groww uses CDSL so login to CDSL Easi - https://web.cdslindia.com/myeasinew/home/login and check if the SGB are in your demat account. If they are, I'd expect interest to be credited to the bank account linked on groww. If they are not, I think you should contact Bank of Baroda.

Banks rarely put SGBs in your demat account - did you give your CDSL BOID to BoB while purchasing?

I gave my CDSL BOID to BoB so it is there in Demat format

But the interest is not crediting to bank account linked to Groww

 

[federer.reddevil]

I sent tweets to Groww they said that the account linked with them was the account I registered with Groww so I checked the statement on it and I found this credit every 6 months on the 25th Nov and 25th May



Is this the SGB interest paid twice a year?

 

[panchabhut]

As I said, if they are in demat acct, int will be credited to linked acct.
SGB interest is paid half-yearly

 

[thanix]

I had a BoB savings account and I bought a SGB last year using that later I closed that account now only got to know that SGB interest will be credited in the same account. Anyone have any idea how to change the account number to which the interest will be credited and how to get the interest amount that I missed by closing the account?

Pls help all help is appreciated.

@TechnoFino @Wealth is my birth right!

Please send email to sgb@rbi.org.in and get clarity.

 

[federer.reddevil]

Yes will do thanks for providing the email

 

[yolofino]

I sent tweets to Groww they said that the account linked with them was the account I registered with Groww so I checked the statement on it and I found this credit every 6 months on the 25th Nov and 25th May

View attachment 12139

Is this the SGB interest paid twice a year?

This is because you used demat account for buying SGB.

If you had used a bank and closed that account, then the only option is to contact RBI.

 

[AritraSaha]

Bro, i bought sgb through groww.(using icici bank as the default option).
But on the sgb certificate, i can see my sbi account.

So my question is which account will the interest will be credited?

Plz help me out.🙏