The Reserve Bank of India (RBI) in its latest press release announced redemption price for the Sovereign Gold Bond 2019-20-Series-III 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 14-Feb-25.
Redemption price for the Sovereign Gold Bond 2019-20-Series-III Premature Redemption due on 14-Feb-25 shall be ₹ 8,536/- (Eight thousand five hundred thirty-six Indian rupees). The issue price for the same was ₹ 3,499/- (Three thousand four hundred ninety-nine Indian rupees) issued on 14-Aug-19.
The annualised return (IRR) is estimated to be at 17.6%
*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).
Accordingly, the redemption price for premature redemption due on February 14, 2025, shall be ₹8,536/- (Eight thousand five hundred thirty-six Indian rupees) per unit of SGB based on the simple average of closing gold price for the three business days i.e. February 11, February 12, and February 13, 2025
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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