Gold bond investment will get Rs 8,499 per gram

New Delhi: The Reserve Bank of India has announced that those who apply for early redemption of the ninth tranche of gold bond accounts issued in the financial year 2019-20 will be given Rs 8,499 per unit.

SGB gold bond

What is the return of SGB after 8 years?

The central government, as part of its efforts to reduce gold imports, announced the Gold Savings Bond Scheme in November 2015. Under this scheme, gold can be stored in the form of a document. One unit of gold is given as 1 gram.

The investment will mature in full in eight years from the date of issue of the gold bonds.

However, early withdrawal of the investment will be allowed only after five years.

Accordingly, bonds issued on February 11, 2020, can be redeemed before maturity from yesterday.

The Reserve Bank has announced that those who have applied for such redemption will be given Rs 8,499 per gram of gold.

The Reserve Bank has stated that this price has been determined based on the average price of 24-carat gold on February 6, 7 and 10.

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