The Reserve Bank of India (RBI) in its latest press release announced redemption price for the Sovereign Gold Bond 2017-18-Series-XIII Premature 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 Premature Redemption of the above tranche shall be on 26-Dec-24.
Redemption price for the Sovereign Gold Bond 2017-18-Series-XIII Premature Redemption due on 26-Dec-24 shall be ₹ 7,573/- (Seven thousand five hundred seventy-three Indian rupees). The issue price for the same was ₹ 2,866/- (Two thousand eight hundred sixty-six Indian rupees) issued on 26-Dec-17.
The annualised return (IRR) is estimated to be at 14.9%
*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).
Accordingly, the redemption price for premature redemption due on December 26, 2024, shall be ₹7,573/- (Seven thousand five hundred seventy-three Indian rupees) per unit of SGB based on the simple average of closing gold price for the three business days i.e. December 20, December 23, and December 24, 2024
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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