SGB's 2017 tranche gives 225% returns on early exit. Check next premature redemption date
Holders of
Sovereign Gold Bonds
(SGB 2017-18) Series X earned handsome gains of Rs 6,669 or 225% per gram of gold on premature redemption. It was issued on December 4, 2017 at a price of Rs 2,961 per gram.
The window for premature redemption was open between May 5 and May 26 when the investors could submit the request to the receiving offices/NSDL/CDSL/RBI Retail Direct.
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On October 6, 2017, the government had informed about issuing (SGB 2017-18 Series X).
The premature redemption of gold bonds is permitted after the fifth year from the date of issue of the gold bond on the date on which interest is payable.
The redemption price of SGB is 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 (IBJA).
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In this case, the redemption price for premature redemption was Rs 9,630 per gram based on the simple average of closing gold price for the three business days i.e., May 30, June 2, and June 3, 2025.
The next premature redemption date is June 11 for SGB 2017-18 Series XI and SGB 2019-20 Series I.
The dates for submitting the request for premature redemption by the investors was between May 9 and June 2 for both the series.
SGB premature redemption is a useful exit strategy if the investor is looking to book
tax-free capital gains
, access funds without waiting 8 full years or rebalance his asset allocation
It combines the benefits of government security, gold exposure and tax efficiency.
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