Sovereign Gold Bond (SGB) Tranches: Issue Price, Redemption Price and Maturity

A government bond denominated in grams of gold, issued by RBI on behalf of the Government of India in tranches between November 2015 and February 2024. One unit is one gram; it pays interest every six months and is repaid in rupees at the gold price of the time: at eight years, or earlier on the interest dates from the fifth year.

From the simple average of IBJA’s closing price of 999 gold over the last three business days of the week before the subscription period, with ₹50 per gram off for online applications paid digitally. RBI announced each tranche’s price in a press release; this page links every one of them.

From the simple average of IBJA’s closing price of 999 gold over the three business days before the redemption date. RBI publishes it in a press release a day or two before each date; our indicative value applies the same rule to the latest three closes and is not a price.

From the fifth year after issue, on the dates interest is paid (every six months from the issue date), by applying through the bank, post office, SHCIL or broker the bond was bought through, within the window RBI’s half-yearly calendar gives. Units held in demat form can also be sold on the stock exchange at any time at the market price.

The last tranche, SGB 2023-24 Series IV, was issued on 21 Feb 2024. Nothing newer was listed on RBI’s SGB page as of 23 Oct 2026; this page is updated from that page every morning.

By RBI’s own FAQ: the interest is taxable as income under the Income-tax Act; the capital gain on redemption of the bond through RBI is exempt for an individual; no TDS is deducted on the bond. A sale on the exchange is a transfer, taxed as a capital gain. This is RBI’s description, not tax advice.