New Delhi: The Reserve Bank of India (RBI) has fixed the premature redemption amount of Sovereign Gold Bond (SGB) issued under the third series in 2017-18. This will help the SGB scheje holders to redeem the SGB of this series before maturity.
The central banking authority has fixed the amount of Rs 9,221 per unit for SGB SGB 2017-18 Series III on April 16, 2025. The investors are entitled to get a return of up to 211 percent in return for investing in these bonds for 8 years. The return will be in addition to the interest received every half year.
RBI informed that the GOI Notification on Sovereign Gold Bond Scheme, states that the “premature redemption of Gold Bond may be permitted after fifth year from the date of issue of such Gold Bond on the date on which interest is payable. Accordingly, the next due date of premature redemption of the above tranche shall be April 16, 2025.”
“Further, 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). Accordingly, the redemption price for premature redemption due on April 16, 2025, shall be Rs 9221/- (Rupees Nine Thousand Two Hundred and Twenty One only) per unit of SGB based on the simple average of closing gold price for the three business days i.e., April 09, April 11, and April 15, 2025.”
The Reserve Bank of India (RBI) has announced the premature redemption amount for Sovereign Gold Bonds (SGB) issued under the 2017-18 Series III. Investors can redeem their bonds on April 16, 2025, at Rs 9221 per unit. Personal Finance Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
