SGB redemption dates out for Apr–Sep 2026; April 1 tax rule alters investor returns
The Reserve Bank of India has released the Sovereign Gold Bond (SGB) premature redemption calendar for April to September 2026, detailing series-wise exit dates and request windows. The announcement comes alongside a key tax change effective April 1, 2026, which removes capital gains exemption for SGBs purchased from the secondary market.
- Feb 27, 2026,
- Updated Feb 27, 2026 9:11 AM IST
The Reserve Bank of India (RBI) has published the Sovereign Gold Bond (SGB) premature redemption calendar for April through September 2026, offering investors a comprehensive schedule to plan their exits. According to the RBI, "The Reserve Bank of India (RBI) has released Sovereign Gold Bonds (SGB) premature redemption dates for April 2026-September 2026. However, these dates may change due to unscheduled holidays. Investors must submit their premature redemption requests within the official window through banks, post offices, NSDL, CDSL, or RBI Retail Direct to avoid rejection."
For April 2026, key SGB series with scheduled redemption dates include the 2018-19 Series II on 23 April, the 2019-20 Series V on 15 April, the 2019-20 Series VI on 30 April, the 2020-21 Series I on 28 April, and the 2020-21 Series VII on 20 April. Each series has a specific request window ranging from 10 to 20 days before the redemption date, and these vary depending on the series.
In May 2026, investors can redeem SGB 2018-19 Series III on 13 May, 2020-21 Series II on 19 May, 2020-21 Series VIII on 18 May, 2021-22 Series I on 25 May, and 2021-22 Series II on 1 June (with the request window mostly in May). These windows are critical, as missing the deadline means waiting for the next eligible redemption cycle.
June 2026 presents several redemption dates, including 2019-20 Series I on 11 June, 2019-20 Series VII on 10 June, 2020-21 Series III on 16 June, 2020-21 Series IX on 4 July (with a June request window), and 2021-22 Series III on 8 June. Request windows for these series typically begin one month before the date and close about a week prior.
SGBs with premature redemption in July 2026 span multiple series: 2018-19 Series IV on 1 July, 2018-19 Series V on 22 July, 2019-20 Series II on 16 July, 2019-20 Series VIII on 21 July, 2020-21 Series IV on 14 July, 2020-21 Series X on 18 July, and 2021-22 Series IV on 20 July. The respective request windows for these bonds range from early June to mid-July.
For August 2026, notable premature redemption dates include the 2018-19 Series VI on 12 August, 2019-20 Series III on 14 August, 2019-20 Series IX on 11 August, 2020-21 Series V also on 11 August, 2021-22 Series V on 17 August, and 2021-22 Series VI on 7 September (with the request window mostly in August). The July and August request windows are detailed for each series, enabling timely submission of applications.
September 2026 includes the 2019-20 Series X on 11 September and 2020-21 Series XII on 9 September as the main redemption opportunities, with request windows beginning in August and closing in early September. Investors should take note of the exact opening and closing dates to optimise their exit strategy.
Change in SGB taxation from April 1
Finance Minister Nirmala Sitharaman’s Budget unsettled Sovereign Gold Bond (SGB) investors by proposing to withdraw the capital gains tax exemption for bonds purchased from the secondary market. Under the revised framework, effective April 1, 2026, only original subscribers who buy SGBs at primary issuance from the RBI and hold them until maturity will retain full tax-free redemption benefits.
Until now, SGBs were regarded as one of India’s most tax-efficient gold investment vehicles. Investors earned 2.5% annual interest and enjoyed complete capital gains exemption at maturity, irrespective of whether the bonds were acquired during the initial issue or later via stock exchanges.
The Budget narrows this benefit. Secondary market buyers redeeming SGBs after April 1, 2026 will have to pay capital gains tax on the price appreciation. Short-term gains will be taxed at slab rates, while long-term gains will attract applicable LTCG tax, removing the blanket exemption previously available.
The government’s intent is to curb arbitrage, as some investors bought discounted older tranches on exchanges and still claimed tax-free maturity proceeds. While original subscribers remain unaffected, market participants warn the move reduces the relative attractiveness of SGBs compared to gold ETFs and physical gold, especially for secondary market investors.
The Reserve Bank of India (RBI) has published the Sovereign Gold Bond (SGB) premature redemption calendar for April through September 2026, offering investors a comprehensive schedule to plan their exits. According to the RBI, "The Reserve Bank of India (RBI) has released Sovereign Gold Bonds (SGB) premature redemption dates for April 2026-September 2026. However, these dates may change due to unscheduled holidays. Investors must submit their premature redemption requests within the official window through banks, post offices, NSDL, CDSL, or RBI Retail Direct to avoid rejection."
For April 2026, key SGB series with scheduled redemption dates include the 2018-19 Series II on 23 April, the 2019-20 Series V on 15 April, the 2019-20 Series VI on 30 April, the 2020-21 Series I on 28 April, and the 2020-21 Series VII on 20 April. Each series has a specific request window ranging from 10 to 20 days before the redemption date, and these vary depending on the series.
In May 2026, investors can redeem SGB 2018-19 Series III on 13 May, 2020-21 Series II on 19 May, 2020-21 Series VIII on 18 May, 2021-22 Series I on 25 May, and 2021-22 Series II on 1 June (with the request window mostly in May). These windows are critical, as missing the deadline means waiting for the next eligible redemption cycle.
June 2026 presents several redemption dates, including 2019-20 Series I on 11 June, 2019-20 Series VII on 10 June, 2020-21 Series III on 16 June, 2020-21 Series IX on 4 July (with a June request window), and 2021-22 Series III on 8 June. Request windows for these series typically begin one month before the date and close about a week prior.
SGBs with premature redemption in July 2026 span multiple series: 2018-19 Series IV on 1 July, 2018-19 Series V on 22 July, 2019-20 Series II on 16 July, 2019-20 Series VIII on 21 July, 2020-21 Series IV on 14 July, 2020-21 Series X on 18 July, and 2021-22 Series IV on 20 July. The respective request windows for these bonds range from early June to mid-July.
For August 2026, notable premature redemption dates include the 2018-19 Series VI on 12 August, 2019-20 Series III on 14 August, 2019-20 Series IX on 11 August, 2020-21 Series V also on 11 August, 2021-22 Series V on 17 August, and 2021-22 Series VI on 7 September (with the request window mostly in August). The July and August request windows are detailed for each series, enabling timely submission of applications.
September 2026 includes the 2019-20 Series X on 11 September and 2020-21 Series XII on 9 September as the main redemption opportunities, with request windows beginning in August and closing in early September. Investors should take note of the exact opening and closing dates to optimise their exit strategy.
Change in SGB taxation from April 1
Finance Minister Nirmala Sitharaman’s Budget unsettled Sovereign Gold Bond (SGB) investors by proposing to withdraw the capital gains tax exemption for bonds purchased from the secondary market. Under the revised framework, effective April 1, 2026, only original subscribers who buy SGBs at primary issuance from the RBI and hold them until maturity will retain full tax-free redemption benefits.
Until now, SGBs were regarded as one of India’s most tax-efficient gold investment vehicles. Investors earned 2.5% annual interest and enjoyed complete capital gains exemption at maturity, irrespective of whether the bonds were acquired during the initial issue or later via stock exchanges.
The Budget narrows this benefit. Secondary market buyers redeeming SGBs after April 1, 2026 will have to pay capital gains tax on the price appreciation. Short-term gains will be taxed at slab rates, while long-term gains will attract applicable LTCG tax, removing the blanket exemption previously available.
The government’s intent is to curb arbitrage, as some investors bought discounted older tranches on exchanges and still claimed tax-free maturity proceeds. While original subscribers remain unaffected, market participants warn the move reduces the relative attractiveness of SGBs compared to gold ETFs and physical gold, especially for secondary market investors.