Historical · not currently available
Sovereign Gold Bonds are history
The Government of India has not opened a new Sovereign Gold Bond tranche since the 2023-24 Series IV, and no issuance calendar for a new series has been announced. SGBs are therefore not listed as a way to invest on this site.
Discontinued — no fresh tranche issued since February 2024
Bonds already issued are unaffected. The RBI continues to publish premature-redemption windows — the calendar covering October 2026 to March 2027 lists tranches from 2019-20 onward, with premature redemption permitted after five years from issue.
Source: RBI — SGB Scheme calendar for premature redemption, Oct 2026 – Mar 2027 (press release, 21 Aug 2026).
The record
How the scheme worked while it was open
Government-issued bonds denominated in grams of gold — an interest-bearing claim on the metal's price, redeemed in cash, not bars.
- Issued by the Reserve Bank of India on behalf of the Government of India.
- Denominated in grams of gold; minimum investment of one gram, in multiples of a gram.
- Maximum subscription of 4 kg for individuals and HUFs, and 20 kg for trusts and similar entities, per financial year.
- Fixed interest of 2.50% per annum on the initial investment, paid semi-annually, with the final interest payment at maturity.
- Redeemed in cash at the prevailing market price of gold.
- Issued to resident investors, including individuals, HUFs, trusts, universities and charitable institutions; joint holding allowed.
That combination — gold-price exposure plus a fixed 2.50% coupon, with no making charges, storage or spread — is why discontinued SGBs still anchor so many comparisons. It is also why their absence matters: nothing currently on sale replicates a government-backed bond with a fixed coupon. The comparison matrix and calculators on this hub exclude SGBs on purpose rather than presenting a dead option as live.
Source: RBI — Sovereign Gold Bond FAQs.
Existing holders
Maturity and premature redemption
Bonds already issued run to maturity unaffected. Premature redemption is permitted after five years from the issue date inside the RBI's published windows — check the current calendar on the RBI's release before acting.
Record reviewed 2026-09-20. Tax treatment of holdings is its own question — confirm historical treatment with a tax adviser. See our methodology.