SGB redemption calendar: SGB investors can redeem these Sovereign Gold Bond tranches between July and September
RBI has released the schedule for premature redemption of several Sovereign Gold Bond (SGB) tranches between July and September 2026. Here's a look at the eligible series, redemption dates, submission windows and the rules investors should know before exiting.
- Jun 27, 2026,
- Updated Jun 27, 2026 3:37 PM IST
Investors holding eligible Sovereign Gold Bond (SGB) tranches issued between 2019 and 2021 have multiple opportunities to opt for premature redemption between July and September 2026, according to the Reserve Bank of India's (RBI) latest redemption schedule. The upcoming window covers several SGB series that have completed the mandatory five-year holding period, allowing investors to exit before the bonds' original eight-year maturity.
Under the SGB scheme, investors become eligible for premature redemption only after five years from the date of issue. However, redemption is permitted only on the scheduled interest payment dates, and investors must submit their requests within the window specified by the RBI through the bank, post office or other authorised institution from where the bonds were purchased.
Which SGB tranches are eligible?
The first redemption opportunity during the period is for 2019-20 Series VIII, issued on January 21, 2020. The bonds are eligible for premature redemption on July 21, 2026, while requests can be submitted between June 20 and July 13.
This will be followed by 2019-20 Series IX, redeemable on August 11, 2026, and 2019-20 Series X, redeemable on September 11, 2026.
Among the 2020-21 issuances, investors in Series IV, Series V, Series VI, Series IX, Series X, Series XI and Series XII will also become eligible for redemption during July, August and September.
Similarly, investors holding 2021-22 Series IV, Series V and Series VI can also opt for premature redemption. The final tranche in the current schedule is 2021-22 Series VI, issued on September 7, 2021, which will become eligible for redemption on September 7, 2026. Investors in this tranche can submit their requests between August 7 and August 28, 2026.
| Tranche | Issue Date | Date of Premature Redemption | Request Submission Window – From | Request Submission Window – To |
|---|---|---|---|---|
| 2019-20 Series VIII | January 21, 2020 | July 21, 2026 | June 20, 2026 | July 13, 2026 |
| 2019-20 Series IX | February 11, 2020 | August 11, 2026 | July 10, 2026 | August 01, 2026 |
| 2019-20 Series X | March 11, 2020 | September 11, 2026 | August 11, 2026 | September 01, 2026 |
| 2020-21 Series I | April 28, 2020 | April 28, 2026 | March 28, 2026 | April 18, 2026 |
| 2020-21 Series II | May 19, 2020 | May 19, 2026 | April 18, 2026 | May 11, 2026 |
| 2020-21 Series III | June 16, 2020 | June 16, 2026 | May 16, 2026 | June 06, 2026 |
| 2020-21 Series IV | July 14, 2020 | July 14, 2026 | June 12, 2026 | July 04, 2026 |
| 2020-21 Series V | August 11, 2020 | August 11, 2026 | July 10, 2026 | August 01, 2026 |
| 2020-21 Series VI | September 08, 2020 | September 08, 2026 | August 07, 2026 | August 29, 2026 |
| 2020-21 Series VII | October 20, 2020 | April 20, 2026 | March 20, 2026 | April 10, 2026 |
| 2020-21 Series VIII | November 18, 2020 | May 18, 2026 | April 17, 2026 | May 08, 2026 |
| 2020-21 Series IX | January 05, 2021 | July 04, 2026 | June 04, 2026 | June 24, 2026 |
| 2020-21 Series X | January 19, 2021 | July 18, 2026 | June 18, 2026 | July 08, 2026 |
| 2020-21 Series XI | February 09, 2021 | August 07, 2026 | July 09, 2026 | July 28, 2026 |
| 2020-21 Series XII | March 09, 2021 | September 09, 2026 | August 07, 2026 | August 31, 2026 |
| 2021-22 Series I | May 25, 2021 | May 25, 2026 | April 24, 2026 | May 15, 2026 |
| 2021-22 Series II | June 01, 2021 | June 01, 2026 | April 30, 2026 | May 22, 2026 |
| 2021-22 Series III | June 08, 2021 | June 08, 2026 | May 08, 2026 | May 29, 2026 |
| 2021-22 Series IV | July 20, 2021 | July 20, 2026 | June 19, 2026 | July 10, 2026 |
| 2021-22 Series V | August 17, 2021 | August 17, 2026 | July 17, 2026 | August 07, 2026 |
| 2021-22 Series VI | September 07, 2021 | September 07, 2026 | August 07, 2026 | August 28, 2026 |
MUST READ: This gold bond has given 302% return - should you hold for tax-free gains on maturity?
How is the redemption price decided?
The redemption price is not fixed at the time of investment. Before every redemption date, the RBI calculates the value based on the simple average of the closing price of 999 purity gold during the previous three business days, using prices published by the India Bullion and Jewellers Association (IBJA). The central bank announces the final redemption price separately ahead of each redemption date.
Apart from capital appreciation linked to gold prices, SGB investors also receive 2.5% annual interest, paid semi-annually on the original investment amount throughout the holding period.
Previous redemption delivered over 219% returns
The recent redemption of SGB 2020-21 Series III demonstrates how rising gold prices have boosted investor returns. The tranche, issued on June 16, 2020, became eligible for premature redemption on June 16, 2026.
The bond was issued at ₹4,627 per gram for online subscribers and ₹4,677 per gram for offline investors. RBI fixed the premature redemption price at ₹14,774 per gram, resulting in an absolute return of around 219.3% for investors who had purchased the bonds online, excluding the interest earned over six years.
An investor who invested ₹1 lakh at the time of issue would have seen the investment grow to approximately ₹3.19 lakh, apart from the cumulative interest received during the holding period.
MUST READ: Budget 2026 tax changes: SGB tax rule change from April 2026 may wipe out secondary market premiums
Should investors redeem?
Financial experts say the decision to redeem should depend on an investor's liquidity needs, portfolio allocation and outlook on gold prices. Investors requiring funds or looking to book profits may consider premature redemption, while those seeking continued exposure to gold can hold the bonds until the full eight-year maturity, when they will receive the prevailing gold price along with the final interest payment.
Although the government has discontinued fresh issuances of Sovereign Gold Bonds, existing investors will continue to receive interest and redemption benefits according to the original terms. With gold prices remaining elevated, the upcoming redemption windows offer eligible investors an opportunity to evaluate whether to lock in gains or remain invested for the long term.
Change in SGB taxation from April 1
From April 1, 2026, only investors who subscribe to Sovereign Gold Bonds directly during the RBI's primary issuance and hold them until maturity will enjoy capital gains tax exemption. Investors who buy SGBs from the secondary market will now have to pay applicable capital gains tax on redemption, reducing the tax advantage previously available.
MUST READ: How your investments are taxed in 2026-27: ITR filing guide for stocks, FDs, gold, mutual funds
Investors holding eligible Sovereign Gold Bond (SGB) tranches issued between 2019 and 2021 have multiple opportunities to opt for premature redemption between July and September 2026, according to the Reserve Bank of India's (RBI) latest redemption schedule. The upcoming window covers several SGB series that have completed the mandatory five-year holding period, allowing investors to exit before the bonds' original eight-year maturity.
Under the SGB scheme, investors become eligible for premature redemption only after five years from the date of issue. However, redemption is permitted only on the scheduled interest payment dates, and investors must submit their requests within the window specified by the RBI through the bank, post office or other authorised institution from where the bonds were purchased.
Which SGB tranches are eligible?
The first redemption opportunity during the period is for 2019-20 Series VIII, issued on January 21, 2020. The bonds are eligible for premature redemption on July 21, 2026, while requests can be submitted between June 20 and July 13.
This will be followed by 2019-20 Series IX, redeemable on August 11, 2026, and 2019-20 Series X, redeemable on September 11, 2026.
Among the 2020-21 issuances, investors in Series IV, Series V, Series VI, Series IX, Series X, Series XI and Series XII will also become eligible for redemption during July, August and September.
Similarly, investors holding 2021-22 Series IV, Series V and Series VI can also opt for premature redemption. The final tranche in the current schedule is 2021-22 Series VI, issued on September 7, 2021, which will become eligible for redemption on September 7, 2026. Investors in this tranche can submit their requests between August 7 and August 28, 2026.
| Tranche | Issue Date | Date of Premature Redemption | Request Submission Window – From | Request Submission Window – To |
|---|---|---|---|---|
| 2019-20 Series VIII | January 21, 2020 | July 21, 2026 | June 20, 2026 | July 13, 2026 |
| 2019-20 Series IX | February 11, 2020 | August 11, 2026 | July 10, 2026 | August 01, 2026 |
| 2019-20 Series X | March 11, 2020 | September 11, 2026 | August 11, 2026 | September 01, 2026 |
| 2020-21 Series I | April 28, 2020 | April 28, 2026 | March 28, 2026 | April 18, 2026 |
| 2020-21 Series II | May 19, 2020 | May 19, 2026 | April 18, 2026 | May 11, 2026 |
| 2020-21 Series III | June 16, 2020 | June 16, 2026 | May 16, 2026 | June 06, 2026 |
| 2020-21 Series IV | July 14, 2020 | July 14, 2026 | June 12, 2026 | July 04, 2026 |
| 2020-21 Series V | August 11, 2020 | August 11, 2026 | July 10, 2026 | August 01, 2026 |
| 2020-21 Series VI | September 08, 2020 | September 08, 2026 | August 07, 2026 | August 29, 2026 |
| 2020-21 Series VII | October 20, 2020 | April 20, 2026 | March 20, 2026 | April 10, 2026 |
| 2020-21 Series VIII | November 18, 2020 | May 18, 2026 | April 17, 2026 | May 08, 2026 |
| 2020-21 Series IX | January 05, 2021 | July 04, 2026 | June 04, 2026 | June 24, 2026 |
| 2020-21 Series X | January 19, 2021 | July 18, 2026 | June 18, 2026 | July 08, 2026 |
| 2020-21 Series XI | February 09, 2021 | August 07, 2026 | July 09, 2026 | July 28, 2026 |
| 2020-21 Series XII | March 09, 2021 | September 09, 2026 | August 07, 2026 | August 31, 2026 |
| 2021-22 Series I | May 25, 2021 | May 25, 2026 | April 24, 2026 | May 15, 2026 |
| 2021-22 Series II | June 01, 2021 | June 01, 2026 | April 30, 2026 | May 22, 2026 |
| 2021-22 Series III | June 08, 2021 | June 08, 2026 | May 08, 2026 | May 29, 2026 |
| 2021-22 Series IV | July 20, 2021 | July 20, 2026 | June 19, 2026 | July 10, 2026 |
| 2021-22 Series V | August 17, 2021 | August 17, 2026 | July 17, 2026 | August 07, 2026 |
| 2021-22 Series VI | September 07, 2021 | September 07, 2026 | August 07, 2026 | August 28, 2026 |
MUST READ: This gold bond has given 302% return - should you hold for tax-free gains on maturity?
How is the redemption price decided?
The redemption price is not fixed at the time of investment. Before every redemption date, the RBI calculates the value based on the simple average of the closing price of 999 purity gold during the previous three business days, using prices published by the India Bullion and Jewellers Association (IBJA). The central bank announces the final redemption price separately ahead of each redemption date.
Apart from capital appreciation linked to gold prices, SGB investors also receive 2.5% annual interest, paid semi-annually on the original investment amount throughout the holding period.
Previous redemption delivered over 219% returns
The recent redemption of SGB 2020-21 Series III demonstrates how rising gold prices have boosted investor returns. The tranche, issued on June 16, 2020, became eligible for premature redemption on June 16, 2026.
The bond was issued at ₹4,627 per gram for online subscribers and ₹4,677 per gram for offline investors. RBI fixed the premature redemption price at ₹14,774 per gram, resulting in an absolute return of around 219.3% for investors who had purchased the bonds online, excluding the interest earned over six years.
An investor who invested ₹1 lakh at the time of issue would have seen the investment grow to approximately ₹3.19 lakh, apart from the cumulative interest received during the holding period.
MUST READ: Budget 2026 tax changes: SGB tax rule change from April 2026 may wipe out secondary market premiums
Should investors redeem?
Financial experts say the decision to redeem should depend on an investor's liquidity needs, portfolio allocation and outlook on gold prices. Investors requiring funds or looking to book profits may consider premature redemption, while those seeking continued exposure to gold can hold the bonds until the full eight-year maturity, when they will receive the prevailing gold price along with the final interest payment.
Although the government has discontinued fresh issuances of Sovereign Gold Bonds, existing investors will continue to receive interest and redemption benefits according to the original terms. With gold prices remaining elevated, the upcoming redemption windows offer eligible investors an opportunity to evaluate whether to lock in gains or remain invested for the long term.
Change in SGB taxation from April 1
From April 1, 2026, only investors who subscribe to Sovereign Gold Bonds directly during the RBI's primary issuance and hold them until maturity will enjoy capital gains tax exemption. Investors who buy SGBs from the secondary market will now have to pay applicable capital gains tax on redemption, reducing the tax advantage previously available.
MUST READ: How your investments are taxed in 2026-27: ITR filing guide for stocks, FDs, gold, mutual funds