Money & Banking

First tranche of 2015 Sovereign Gold Bonds to be redeemed at ₹4,837 per unit against ₹2,684 issue price

Our Bureau Mumbai | Updated on May 27, 2021

Bonds shall be repayable on the expiration of eight years from the date of issue

Investors in Sovereign Gold Bonds (SGB) 2015-16 Tranche I will get bumper returns, going by the redemption price set by the Reserve Bank of India.

The central bank on Thursday said the redemption price for the early redemption of SGB Tranche I, issued in November 2015, will be ₹4,837 per unit of SGB.

This translates into an appreciation of about 80 per cent over the issue price of ₹2,684 per unit of SGB.

The Centre had come up with the SGB scheme in 2015. It issued a Gazette Notification on it on October 30, 2015.

The RBI, in a statement, said the redemption price for the early redemption due on May 30 shall be ₹4,837 per unit of SGB and payable on May 29.

As per the terms and conditions of the issuance of Sovereign Gold Bonds, 2015-16, the bonds shall be repayable on the expiration of eight years from the date of issue.

Pre-mature redemption of the bond is allowed from fifth year of the date of issue on the interest payment dates.

Published on May 27, 2021

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

This article is closed for comments.
Please Email the Editor