The Reserve Bank of India (RBI) has released details regarding the premature redemption of Sovereign Gold Bond (SGB) tranches scheduled for the period of April 2024 to September 2024. The central bank has provided a window for investors to submit requests for premature redemption, along with important dates for coupon payments.
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As outlined in the Consolidated Procedural Guidelines on the Sovereign Gold Bond (SGB) Scheme, premature redemption is permissible after five years from the date of issue of the bonds.
The details of tranches due for premature redemption and the associated window for submission of redemption requests are as follows:
| Tranche | Issue Date | Date of Coupon payment | Dates for submitting the request for premature redemption by the investors to the Receiving Offices/NSDL/CDSL/RBI Retail Direct | |
| From | To | |||
| 2016-17 Series III | November 17, 2016 | May 17, 2024 | April 16, 2024 | May 7, 2024 |
| 2016-17 Series IV | March 17, 2017 | September 17, 2024 | August 17, 2024 | September 6, 2024 |
| 2017-18 Series I | May 12, 2017 | May 12, 2024 | April 10, 2024 | April 30, 2024 |
| 2017-18 Series II | July 28, 2017 | July 28, 2024 | June 26, 2024 | July 16, 2024 |
| 2017-18 Series III | October 16, 2017 | April 16, 2024 | March 16, 2024 | April 6, 2024 |
| 2017-18 Series IV | October 23, 2017 | April 23, 2024 | March 23, 2024 | April 12, 2024 |
| 2017-18 Series V | October 30, 2017 | April 30, 2024 | March 30, 2024 | April 20, 2024 |
| 2017-18 Series VI | November 6, 2017 | May 6, 2024 | April 6, 2024 | April 26, 2024 |
| 2017-18 Series VII | November 13, 2017 | May 13, 2024 | April 12, 2024 | May 3, 2024 |
| 2017-18 Series VIII | November 20, 2017 | May 20, 2024 | April 20, 2024 | May 10, 2024 |
| 2017-18 Series IX | November 27, 2017 | May 27, 2024 | April 26, 2024 | May 17, 2024 |
| 2017-18 Series X | December 4, 2017 | June 4, 2024 | May 4, 2024 | May 24, 2024 |
| 2017-18 Series XI | December 11, 2017 | June 11, 2024 | May 10, 2024 | June 1, 2024 |
| 2017-18 Series XII | December 18, 2017 | June 18, 2024 | May 18, 2024 | June 7, 2024 |
| 2017-18 Series XIII | December 26, 2017 | June 26, 2024 | May 27, 2024 | June 15, 2024 |
| 2017-18 Series XIV | January 1, 2018 | July 1, 2024 | June 1, 2024 | June 21, 2024 |
| 2018-19 Series I | May 4, 2018 | May 4, 2024 | April 4, 2024 | April 24, 2024 |
| 2018-19 Series II | October 23, 2018 | April 23, 2024 | March 23, 2024 | April 12, 2024 |
| 2018-19 Series III | November 13, 2018 | May 13, 2024 | April 12, 2024 | May 3, 2024 |
| 2018-19 Series IV | January 1, 2019 | July 1, 2024 | June 1, 2024 | June 21, 2024 |
| 2018-19 Series V | January 22, 2019 | July 22, 2024 | June 21, 2024 | July 12, 2024 |
| 2018-19 Series VI | February 12, 2019 | August 12, 2024 | July 12, 2024 | August 2, 2024 |
| 2019-20 Series I | June 11, 2019 | June 11, 2024 | May 10, 2024 | June 1, 2024 |
| 2019-20 Series II | July 16, 2019 | July 16, 2024 | June 15, 2024 | July 6, 2024 |
| 2019-20 Series III | August 14, 2019 | August 14, 2024 | July 15, 2024 | August 3, 2024 |
| 2019-20 Series IV | September 17, 2019 | September 17, 2024 | August 17, 2024 | September 6, 2024 |
(Source: RBI)
Investors should take note that the mentioned dates are subject to change in case of unscheduled holidays, RBI stated.
In the event of early encashment or redemption, investors can approach the concerned bank, SHCIL offices, post office, or agent thirty days before the coupon payment date.
It is crucial to submit the request at least one day before the coupon payment date for the premature redemption to be entertained.
Sovereign Gold Bonds are government securities denominated in gold, issued by the government, and come with a holding certificate for investors.
While the bond has a tenor of 8 years, premature redemption is allowed after the fifth year from the date of issue on coupon payment dates.
In case of successful premature redemption, the proceeds are credited to the customer’s bank account provided at the time of applying for the bond, as per the guidelines set by the Reserve Bank of India.
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