Mark Your Calendar: SGB's Maiden Tranche Matures on Nov 30
The Golden Step
The
RBI issued the first tranche of SGB in November 2015
, which is maturing after 8 years on November 30, 2023.
Issue Price
SGB was priced at
Rs 2,684
per unit for the first tranche.
The Bonus Feature
The interest rate offered for this tranche was
2.75%
per annum.
The Maturity Price
The redemption price is
Rs. 6132
per unit, based on the simple average closing price of Gold from November 20 to November 24, 2023.
Calculation Simplified
The above image shows the scimplified calculation for SGB's returns.
The Learning
The price of gold has doubled since then. This is undoubtedly a bonanza of earnings for the investors.
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Earn 9 - 11%
Fixed Returns
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