In terms of GOI Notification F.No.4(16) – W&M/2016 dated October 20, 2016 (SGB 2016-17 Series III – Issue date November 17, 2016) on Sovereign Gold Bond Scheme, premature redemption of Gold Bond may be permitted after fifth year from the date of issue of such Gold Bond on the date on which interest is payable. Accordingly, the third due date of premature redemption of the above tranche shall be November 17, 2022.
Further, the redemption price of SGB shall be based on simple average of closing price of gold of 999 purity, of the week (Monday-Friday), preceding the date of redemption, as published by the India Bullion and Jewellers Association Ltd (IBJA). Accordingly, the redemption price for premature redemption due on November 17, 2022 shall be ₹5157/- (Rupees Five thousand one hundred fifty Seven only) per unit of SGB based on the simple average of closing gold price for the week November 07, 2022- November 11, 2022.