Important Announcement about RBI Sovereign Gold Bond

The Reserve Bank of India (RBI) has fixed the early redemption price of Savaran Gold Bond (SGB) due on October 30, 2023 at Rs. 6,079 has been fixed. It is based on the simple average of closing price of gold for three business days viz. e., October 25-27, 2023.

RBI, Sovereign Gold Bond

Investors in SGBs have an option to redeem their bonds before the fifth year from the date of issue. However, with the benefit of indexation, 20% capital gains tax is levied on the gains realized.

For early redemption of SGBs, investors may contact their issuing bank or authorized broker. They have to submit redemption claim form along with original SGB certificate. The redemption proceeds will be credited to the investor's bank account within a few days.

SGBs are a popular investment option for investors who want to invest in gold in a safe and convenient manner. They are a great way to diversify one's portfolio and reduce risk.

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