SGB 2016-17 Series I Redemption Price and Date: The Reserve Bank of India has announced the redemption price and date for gold bonds purchased in the first series of SGB 2016-17. Investors who bought gold bonds in the first series of SGB 2016-17 are going to get rich. Yes, the Reserve Bank of India has fixed the redemption price of Rs 6,938 per gram for gold bonds purchased in the first series of SGB 2016-17.
Gold bonds were sold at a price of Rs 3,119 per gram
Let us tell you that under the first series of SGB 2016-17, RBI had sold gold bonds at the price of Rs 3,119 per gram. That is, the investors who bought gold bonds at that time will get a huge return of 122 percent on that gold bond. Not only this, as per the rules, investors will also be given separate interest at the rate of 2.5 percent per annum on the amount invested.
Monday, August 5 fixed as redemption date
RBI has fixed Monday, August 5 as the redemption date for the first series of SGB 2016-17 issued on August 5, 2016. Let us tell you that the investment made under SGB matures in 8 years. But the thing to note here is that you cannot withdraw money from SGB before 5 years. After maturity, the value of your gold bond is transferred to your bank account.
What is the minimum amount you can invest in SGB
To invest in SGB, you have to buy at least one gram i.e. one unit. In this investment scheme, you can buy a maximum of 4 kg of gold with a purity of 999. Let us tell you that on Friday, August 2, the price of 10 grams of gold on MCX closed at Rs 69,792.
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