SGBs redemption 2024: The Reserve Financial institution of India (RBI) yearly points Sovereign Gold Bond (SGB) tranches, outlining their issuance and redemption dates. These bonds have an eight-year tenor however enable untimely redemption after 5 years from the date of situation. In accordance with ET, a number of SGBs from the 2016 sequence are up for closing redemption in 2024. Listed here are the tentative dates and particulars:
Sovereign Gold Bonds 2016-I
It’s an 8-year bond that matured on February 8, 2024.Initially priced at Rs 2600 per gram, the ultimate redemption quantity is Rs 6,271 for every SGB unit.
Sovereign Gold Bonds 2016-II
As per the RBI notification dated March 22, 2024, the ultimate redemption date for Sovereign Gold Bonds 2016-II is ready for March 28, 2024 (March 29 being a vacation). The redemption quantity due on March 28, 2024, is Rs 6601 for every SGB unit.
Sovereign Gold Bond 2016-17 – Sequence I
The Sovereign Gold Bond 2016-17 – Sequence was issued at Rs 3,119 on August 5, 2016. Therefore, the tentative closing redemption date falls within the first week of August 2024. These bonds carry an annual rate of interest of two.75 %, paid semi-annually, with the final installment due together with the principal at maturity.
Sovereign Gold Bonds 2016-17 Sequence-II
The Sovereign Gold Bonds 2016-17 – Sequence II had been open for subscription from September 1 to September 9, 2016. Initially scheduled for launch on September 23, 2016, they had been later rescheduled to September 30, 2016, with a problem worth of Rs 3,150. The tentative redemption date is ready for the final week of September 2024. These bonds carry an annual rate of interest of two.75 %, paid semi-annually, with the ultimate installment due together with the principal at maturity. Redemption for this tranche is predicted to happen in September 2024.
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Sovereign Gold Bonds 2016-17 – Sequence III
Purposes for the bond had been accepted from October 24 to November 2, 2016, and the bonds had been issued on November 17, 2016, at an issuance worth of Rs 3007 per gram. The ultimate redemption date is predicted to be round November 17, 2024. Traders will obtain compensation at a set charge of two.50 % each year, paid semi-annually on the nominal worth.
Vital notice
It is very important notice that the ultimate redemption date might differ relying on financial institution working days and different elements. The RBI will ship notifications through e-mail and SMS to SGB traders one month earlier than the redemption date.
Calculation of redemption worth
The redemption worth will probably be in Indian Rupees, decided by the earlier week’s (Monday-Friday) easy common of the closing worth of gold of 999 purity revealed by IBJA.
Willpower of situation worth
The worth of the bond will probably be set in Indian Rupees primarily based on the straightforward common of the closing worth of gold of 999 purity revealed by the India Bullion and Jewellers Affiliation Restricted for the week (Monday to Friday) previous the subscription interval. The problem worth of the Gold bonds will probably be Rs 50 per gram lower than the nominal worth.
Tax therapy
The curiosity earned on Gold Bonds is topic to taxation beneath the provisions of the Revenue Tax Act, 1961 (43 of 1961). Nevertheless, the capital good points tax arising from the redemption of SGB by people has been exempted. Indexation advantages will probably be offered for long-term capital good points arising from the switch of bonds to any particular person.
Sovereign Gold Bonds 2016-I
It’s an 8-year bond that matured on February 8, 2024.Initially priced at Rs 2600 per gram, the ultimate redemption quantity is Rs 6,271 for every SGB unit.
Sovereign Gold Bonds 2016-II
As per the RBI notification dated March 22, 2024, the ultimate redemption date for Sovereign Gold Bonds 2016-II is ready for March 28, 2024 (March 29 being a vacation). The redemption quantity due on March 28, 2024, is Rs 6601 for every SGB unit.
Sovereign Gold Bond 2016-17 – Sequence I
The Sovereign Gold Bond 2016-17 – Sequence was issued at Rs 3,119 on August 5, 2016. Therefore, the tentative closing redemption date falls within the first week of August 2024. These bonds carry an annual rate of interest of two.75 %, paid semi-annually, with the final installment due together with the principal at maturity.
Sovereign Gold Bonds 2016-17 Sequence-II
The Sovereign Gold Bonds 2016-17 – Sequence II had been open for subscription from September 1 to September 9, 2016. Initially scheduled for launch on September 23, 2016, they had been later rescheduled to September 30, 2016, with a problem worth of Rs 3,150. The tentative redemption date is ready for the final week of September 2024. These bonds carry an annual rate of interest of two.75 %, paid semi-annually, with the ultimate installment due together with the principal at maturity. Redemption for this tranche is predicted to happen in September 2024.
ALSO READ | Sovereign Gold Bonds Scheme 2023-24 Sequence IV subscription: Utilized on-line or offline? Right here’s tips on how to test allotment particulars
Sovereign Gold Bonds 2016-17 – Sequence III
Purposes for the bond had been accepted from October 24 to November 2, 2016, and the bonds had been issued on November 17, 2016, at an issuance worth of Rs 3007 per gram. The ultimate redemption date is predicted to be round November 17, 2024. Traders will obtain compensation at a set charge of two.50 % each year, paid semi-annually on the nominal worth.
Vital notice
It is very important notice that the ultimate redemption date might differ relying on financial institution working days and different elements. The RBI will ship notifications through e-mail and SMS to SGB traders one month earlier than the redemption date.
Calculation of redemption worth
The redemption worth will probably be in Indian Rupees, decided by the earlier week’s (Monday-Friday) easy common of the closing worth of gold of 999 purity revealed by IBJA.
Willpower of situation worth
The worth of the bond will probably be set in Indian Rupees primarily based on the straightforward common of the closing worth of gold of 999 purity revealed by the India Bullion and Jewellers Affiliation Restricted for the week (Monday to Friday) previous the subscription interval. The problem worth of the Gold bonds will probably be Rs 50 per gram lower than the nominal worth.
Tax therapy
The curiosity earned on Gold Bonds is topic to taxation beneath the provisions of the Revenue Tax Act, 1961 (43 of 1961). Nevertheless, the capital good points tax arising from the redemption of SGB by people has been exempted. Indexation advantages will probably be offered for long-term capital good points arising from the switch of bonds to any particular person.
