The Reserve Bank of India (RBI) in its latest press release announced redemption price for the Sovereign Gold Bond 2016-17-Series-III Final Redemption.
In Sovereign Gold Bond (SGB) Schemes, 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 Final Redemption of the above tranche shall be on 16-Nov-24.
Redemption price for the Sovereign Gold Bond 2016-17-Series-III Final Redemption due on 16-Nov-24 shall be ₹ 7,788. The issue price for the same was ₹ 3,007 issued on 17-Nov-16.
The annualised return (IRR) is estimated to be at 12.6%
*IRR is excluding interest payout. We welcome your valuable queries on this.
View latest issue of Sovereign Gold Bonds here
FAQ: How SGB redemption price is calculated?
A: Pedemption 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).
Disclaimer: Above article only publishes details about the product for education purpose and does not solicit or request to invest in any product. Please visit RBI for more details. We advise investors to take opinion from certified/SEBI registered experts before taking any investment decisions.
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