Sovereign Gold Bond 2017-18 Series X redemption today: RBI announces final redemption price. Check here

The Sovereign Gold Bond (SGB) 2017-18 Series X is due to mature today, December 4, 2025. Issued on December 4, 2017, this tranche completes its eight-year tenure on Thursday.

Accordingly, the redemption price for the upcoming maturity has been fixed at Rs 12,820 per unit.

"In terms of GOI notification F.No.4(25)-(W&M)/2017 dated October 06, 2017 (SGB 2017-18 Series-X-Issue date December 04, 2017) on Sovereign Gold Bond Scheme, the Gold Bond shall be repayable on the expiration of eight years from the date of issue of the Gold Bonds. Accordingly, the final redemption date of the above tranche shall be December 04, 2025," the Reserve Bank of India (RBI) said in a circular dated 3 December.

How redemption price for SGB 2017-18 Series X is calculated

The redemption price of SGB shall be based on the simple average of the closing price of gold of 999 purity of the previous three business days from the date of redemption, as published by the India Bullion and Jewellers Association Ltd (IBJA).

"Accordingly, the redemption price for final redemption due on December 04, 2025, shall be ₹12,820/- (Rupees Twelve Thousand Eight Hundred and Twenty only) per unit of SGB based on the simple average of closing price of gold for the three business days i.e., December 01, 2025, December 02, 2025, and December 03, 2025," the central bank said.

Other SGB tranches maturing in December

• SGB 2017-18 Series XI December 11, 2017

• SGB 2017-18 Series XII December 18, 2017

• SGB 2017-18 Series XIII December 26, 2017

SGB redemption

The Gold Bonds shall be repayable on the expiration of eight years from the date of the issue of the Bonds:

• Provided that premature redemption of Gold Bonds may be permitted after fifth year from the date of issue of Bonds and such repayments will be made on next interest payment date.

• On maturity, the Gold Bonds shall be redeemed in Indian Rupees and the redemption price

• The RBI / depository shall inform the investor one month in advance, about the date of maturity of the Bond.

Tax treatment on SGB