Sovereign gold bond made rich, will give 160% return on maturity, can be redeemed from November 16 – sovereign gold bond 2016-17 series iii delivers 159 percent return in 8 years check final redemption datessovereign gold bond 2016-17 series iii delivers 159 percent return in 8 years check final redemption date

Sovereign Gold Bond: There is good news for those investing in Sovereign Gold Bond (SGB). Sovereign Gold Bond (SGB) Series III 2016-17 has given returns of nearly 160 per cent in the last 8 years. This gold bond was issued on 17 November 2016. The final redemption date has arrived for investors who had invested in Sovereign Gold Bond (SGB) Series III. The redemption date of this SGB series issued by RBI is 16 November 2024. Investors can encash their investments after this date.

RBI said that on redemption, investors will get money at the rate of Rs 7,788 per gram. Whereas investors had bought this series about 8 years ago in 2016 at the price of Rs 3,007 per gram. In this way, SGB investors will get a benefit of Rs 4,781 on every gram during redemption. This is a return of 159 percent in about 8 years.

Let us tell you that this calculation has not yet included the 2.50 percent annual interest that the government gives to the bondholders. This interest is paid twice a year. By adding this, this return will be even higher.

How is the redemption price determined?

The Reserve Bank of India decides the final redemption price based on the average closing price of gold of 999 purity for the last one week. For the price of gold, RBI takes the help of the report of India Bullion and Jewelers Association Limited (IBJA).

For Sovereign Gold Bond (SGB) Series III 2016-17, the average closing price of gold between November 4 and November 8, 2024 has been fixed at Rs 7,788 per gram.

Sovereign Gold Bond (SGB): How to redeem

The redemption amount will be automatically credited to the bank accounts linked to the demat accounts of the bondholders without any need to do anything. If investors’ bank and demat account details are updated, they do not need to take any additional steps. However, they should get their account KYCed to avoid delays and ensure that there are no mistakes in it.

If investors do not want to redeem, they can also trade the bonds on stock exchanges. However, the market price may be different from the current rate and demand of gold.

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