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Premature redemption today of Sovereign Gold Bond Scheme Series I

The premature redemption of the Sovereign Gold Bond (SGB) Scheme Series I of SGB 2018-19), is today, May 4, 2023. The Reserve Bank of India allows premature redemption of Gold Bond after the fifth year from the date of issue of such Gold Bond on the date on which interest is payable

The redemption price for the premature redemption due on May 04, 2023 will be Rs 6054/- (Rupees Six thousand fifty-four only) per unit of SGB. The issue price was Rs 3064 (Issue period: Apr 16th, 2018 & Apr 20th, 2018). The absolute return will be 97.58% for 5-year tenure. While, coupon rate of 2.5% per annum which will be paid semi–annually.

The redemption price of SGB shall be based on the simple average of closing gold price of 999 purity of previous three business days from the date of redemption as published by the India Bullion and Jewellers Association Ltd (IBJA).

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