The Reserve Bank of India (RBI) released the calendar for premature redemption of Sovereign Gold Bonds (SGBs) slated for October 2024 to March 2025. As per the SGB scheme rules, investors can redeem their bonds after 5 years from the issue date, coinciding with the coupon payment date.
So, earlier this week, RBI released the schedule for the tranches of SGBs that can be prematurely redeemed in the five months starting October 01, 2024.
SGB Premature Redemption Calendar
Investors need to apply for these SGBs within a specific window that ends ten days before the coupon payment date. RBI has released details of as many as 30 SGBs scheduled for premature redemption on its official website. Among them, 19 bonds are slated for premature redemption by the end of 2024.
The following ten SGB series have the most recent request submission window for premature redemption till October 25, 2024
2017-18 Series III issued on October 16, 2017 - Request submission dates (10 Day Window): From September 16, 2024
2017-18 Series IV issued on October 23, 2017 - Request submission dates (10 Day Window): From September 23, 2024
2018-19 Series II issued on October 23, 2018 - Request submission dates (10-Day Window): From September 23, 2024
2017-18 Series V issued on October 30, 2017 - Request submission dates (10-Day Window): From September 30, 2024
2018-19 Series I issued on May 4, 2018 - Request submission dates (10 Day Window): From October 4, 2024
2017-18 Series VI issued on November 6, 2017 - Request submission dates (10 Day Window): From October 5, 2024
2017-18 Series I issued on May 12, 2017 - Request submission dates (10 Day Window): From October 11, 2024
2017-18 Series VII issued on November 13, 2017 - Request submission dates (10 Day Window): From October 11, 2024
2017-18 Series VIII issued on November 20, 2017 - Request submission dates (10 Day Window): From October 19, 2024
2017-18 Series IX issued on November 27, 2017 - Request submission dates (10 Day Window): From October 25, 2024
"It may, however, be noted that the above-mentioned dates may change in case of unscheduled holidays," RBI added. An SGB can be withdrawn early by submitting a request to the RBI's regional office or depository at least 10 days before the interest payment is due. For investments held outside of a demat account, investors are advised to engage with the bank, SHCIL, post office, or a designated agent within a period of one to 30 days preceding the scheduled premature redemption date. Sovereign Gold Bonds offer tax exemptions upon redemption after maturity, but selling the bonds before 36 months might incur Short-Term Capital Gains tax based on the investor's income tax bracket.
