Followings are the details related to the process of redemption of SGB on the Maturity: -
- SGBs have fix tenure of 8 years
- The investor will be advised one month before the maturity regarding the ensuing maturity of the bonds.
- When the SGBs is matured the maturity amount is credited to the bank account in the Indian Rupees (₹) that is linked with the Jainam Demat account.
- In case there are any changes in details for example account number, email id then; the investor must intimate the bank or Jainam promptly.
- The redemption price on maturity is based on the simple average of closing price of gold of 999 purity of previous 3 business days from the date of repayment, as published by the Indian Bullion and Jewellers Association limited (IBJA).
- RBI declares the maturity redemption price for every series of SGBs.