RBI announces redemption price of SGB Series IV
Investors who invested in Sovereign Gold Bond have hit the jackpot. Investors investing in Gold Bond are going to get nearly 300 percent return on their investment. Investors of Series IV of Sovereign Gold Bond issued on 17 March 2017 for the financial year 2016-17 are going to get nearly 3 times return on their investment. The Reserve Bank of India has released the final redemption price of this series of Sovereign Gold Bond Scheme, according to which the maturity price of the bond for those investors who had bought the bond at Rs. 2943 per gram has been fixed at Rs. 8624 per gram.
RBI had issued Series IV bonds (SGB 2016-17 Series IV – Issue date March 17, 2017) on 17 March 2017 in the financial year 2016-17. Final maturity was allowed on completion of eight years of these bonds. Investors have also been getting interest at a fixed rate of 2.50 percent per annum on investment in these bonds, which is paid twice a year.
RBI has fixed the redemption price of this series of sovereign gold bonds at Rs 8624 per gram. Whereas investors had invested in this gold bond in March 2017 at a price of Rs 2943 per gram. That is, investors who had invested in this series of sovereign gold bonds are going to get a bumper return of 293 percent on their investment. That is, their investment has tripled in this period. Along with this, investors have also been getting 2.50 percent interest annually.
India Bullion and The redemption price of Sovereign Gold Bond has been decided as per the average price of three days based on the closing price of 999 purity gold declared by the India Bullion and Jewellers Association Ltd. The maturity price of the Sovereign Gold Bond Scheme has been decided on the basis of the average price from 10 March 2025 to 13 March 2025.
