Got SGBs? Here's when you can redeem early between Oct 2025 and Mar 2026

Investors holding SGBs from 2018-21 can opt for early exit between Oct 2025 and Mar 2026 as RBI announces the redemption schedule

The Reserve Bank of India (RBI) has released the schedule for premature redemption of Sovereign Gold Bonds (SGBs) between October 2025 and March 2026. The announcement is significant for investors who may want liquidity before the bonds reach their full eight-year maturity.

 

How SGBs work?

SGBs are government securities issued by the RBI on behalf of the Government of India, denominated in grams of gold. They are designed to serve as a safe substitute for physical gold. Investors pay for the bonds in cash and receive the redemption value in cash upon maturity.

 

SGBs offer two distinct benefits:

 

·  A fixed annual interest of 2.5 per cent, credited twice a year

 

·  The potential for capital appreciation in line with gold prices

 

While the standard tenure is eight years, investors are allowed to exit after the fifth year, but only on the redemption dates announced by the RBI.

 

How is redemption calculated?

The redemption value is based on the simple average of gold’s closing price of 999 purity, published by the India Bullion and Jewellers Association (IBJA), over the three working days preceding redemption. Investors must submit requests within the RBI’s notified window through receiving offices, NSDL, CDSL, or RBI Retail Direct.

 

Tranches eligible for redemption and submission windows

The following series will be available for premature redemption between October 2025 and March 2026. Investors must apply within the specific submission window notified for each tranche.

 

2018–19 issuances 

Series I: issued May 4, 2018, redemption on November 4, 2025, submission window October 4 – October 27, 2025

 

Series II: issued October 23, 2018, redemption on October 23, 2025, submission window September 22 – October 13, 2025

 

Series III: issued November 13, 2018, redemption on November 13, 2025, submission window October 13 – November 3, 2025

 

Series IV: issued January 1, 2019, redemption on January 1, 2026, submission window December 1 – December 22, 2025

 

Series V: issued January 22, 2019, redemption on January 22, 2026, submission window December 22, 2025 – January 12, 2026

 

Series VI: issued February 12, 2019, redemption on February 12, 2026, submission window January 12 – February 2, 2026

 

2019–20 issuances 

Series I: issued June 11, 2019, redemption on December 11, 2025, submission window November 10 – December 11, 2025

 

Series II: issued July 16, 2019, redemption on January 16, 2026, submission window December 16, 2025 – January 6, 2026

 

Series III: issued August 14, 2019, redemption on February 13, 2026, submission window January 14 – February 3, 2026

 

Series IV: issued September 17, 2019, redemption on March 17, 2026, submission window February 13 – March 7, 2026

 

Series V: issued October 15, 2019, redemption on October 15, 2025, submission window September 13 – October 6, 2025

 

Series VI: issued October 30, 2019, redemption on October 30, 2025, submission window September 29 – October 20, 2025

 

Series VII: issued December 10, 2019, redemption on December 10, 2025, submission window November 7 – December 1, 2025

 

Series VIII: issued January 21, 2020, redemption on January 21, 2026, submission window December 20, 2025 – January 12, 2026

 

Series IX: issued February 11, 2020, redemption on February 11, 2026, submission window January 9 – February 2, 2026

 

Series X: issued March 11, 2020, redemption on March 11, 2026, submission window February 7 – March 2, 2026

 

2020–21 issuances

 

Series I: issued April 28, 2020, redemption on October 28, 2025, submission window September 27 – October 18, 2025

 

Series II: issued May 19, 2020, redemption on November 19, 2025, submission window October 18 – November 10, 2025

 

Series III: issued June 16, 2020, redemption on December 16, 2025, submission window November 15 – December 6, 2025

 

Series IV: issued July 14, 2020, redemption on January 14, 2026, submission window December 12, 2025 – January 5, 2026

 

Series V: issued August 11, 2020, redemption on February 11, 2026, submission window January 9 – February 2, 2026

 

Series VI: issued September 8, 2020, redemption on March 7, 2026, submission window February 5 – February 25, 2026

 

Series VII: issued October 20, 2020, redemption on October 20, 2025, submission window September 19 – October 10, 2025

 

Series VIII: issued November 18, 2020, redemption on November 18, 2025, submission window October 18 – November 10, 2025

 

Series IX: issued January 5, 2021, redemption on January 5, 2026, submission window December 5 – December 26, 2025

 

Series X: issued January 19, 2021, redemption on January 19, 2026, submission window December 19, 2025 – January 9, 2026

 

Series XI: issued February 9, 2021, redemption on February 9, 2026, submission window January 9 – January 30, 2026

 

Series XII: issued March 9, 2021, redemption on March 9, 2026, submission window February 6 – February 27, 2026

 

What should investors do?

The RBI has advised bondholders to carefully note the submission windows for each tranche, as requests outside these dates will not be accepted. Proceeds will be credited directly to the registered bank account, so investors should ensure their details are up to date.