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The Reserve Bank of India (RBI) has announced the final redemption price (the price at which investors can sell their SGB units) of the first series of Sovereign Gold Bonds (SGB). Redemption of Sovereign Gold Bond (SGB) 2015 – First Series is scheduled on November 30, 2023. The first sovereign gold bond was issued on 30 November 2015. Now these bonds are due after 8 years. The Reserve Bank has fixed the final redemption price of each unit of Sovereign Gold Bond at Rs. 6132 has been determined.
The issue price of Sovereign Gold Bond was Rs 2684 per gram.
Sovereign Gold Bond (SGB) 2015- 1st Series Issue Price Rs. 2684 per gram. The issue price of the first series of sovereign gold bonds is less than half of the current price. The final redemption price is determined based on the simple average of closing gold prices for the week of 20-24 November 2023. The first series of Sovereign Gold Bonds 2015 is maturing on 30 November 2023. The first series of Sovereign Gold Bonds was launched on 5 November 2015 and subscription was open till 20 November 2015. It was issued on 30 November 2015.
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Here’s how you benefit
This way you can understand how much profit you have earned on your investment in Sovereign Gold Bond (SGB) 2015- First Series. If an investor bought 35 grams of gold in the first series of Sovereign Gold Bonds, the investment amount would be Rs. 93,940, as the issue price of the first series will be Rs. 2684 per gram. At the same time, at a redemption price of Rs 6132 per gram, the investor will get a total of Rs 214620. If calculated without including interest earned on sovereign gold bonds, investors will get a return of 128.5 percent. At the same time, according to CAGR it will be 10.8 percent.
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The Reserve Bank of India announces the issue of Sovereign Gold Bond Series every financial year. At present any investor can invest up to 4 kg in a financial year. The minimum investment in Sovereign Gold Bond is 1 gram.