Premature redemption of SGB 2017-18 Series IX: Check due date, price, more

The due date for premature redemption of the Sovereign Gold Bond (SGB) Scheme (Series IX of SGB 2017-18) is Friday i.e. May 26, 2023. The request for submitting premature redemption for the series was available between April 27, 2023, and May 17, 2023. The Reserve Bank of India (RBI) has kept the redemption price for the series at Rs 6,046, whose date was November 27, 2017.

The redemption price of SGB is based on the simple average closing gold price of 999 purity, of the week (Monday-Friday), preceding the date of redemption, as published by the India Bullion and Jewellers Association Ltd (IBJA).

Sovereign gold bonds or SGBs are issued by the government, for which investors get a holding certificate. It comprises government securities denominated in gold wherein investors are required to pay the issue price in cash.