Today’s premature redemption under SGB!

Premature redemption under the Sovereign Gold Bond (SGB) Scheme – Premature redemption price due on December 4, 2023 (SGB 2017-18 Series X).

Premature redemption of Gold Bonds may be permitted after the fifth year from the date of issue of such Gold Bond on the date on which interest is payable, according to GOI Notification F.No.4(25) – W&M/2017 dated October 06, 2017 (SGB 2017-18 Series X – Issue date December 04, 2017).

As a result, the next due date for premature redemption of the aforementioned tranche is December 4, 2023.

Furthermore, the redemption price of SGB should be based on the simple average of the previous three business days’ closing gold price of 999 purity as announced by the India Bullion and Jewellers Association Ltd (IBJA).

As a result, the redemption price for the premature redemption due on December 04, 2023 shall be Rs 6265/- (Rupees Six thousand two hundred sixty-five only) per unit of SGB based on the simple average of the closing gold price for three business days, namely November 29, 30, and December 01, 2023.

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