The Government of India launched Sovereign Gold Bonds (SGBs) as a way to invest in gold without the risks of physical storage. Every year, the Reserve Bank of India (RBI) announced SGB issue tranches in different months where investors could subscribe through banks, brokers, or online platforms.
While fresh SGB issues were discontinued after February 2024, millions of investors still search for redemption dates, older issue calendars, and the process to subscribe if tranches resume in the future. Let’s break it down clearly.
What is an SGB Issue/Tranche?
- An issue/tranche is a specific subscription window announced by the RBI where investors can apply for new SGBs.
- Each tranche has:
- Subscription period (5 days, usually Mon–Fri).
- Issue date (bonds credited ~1 week later).
- Issue price (linked to average IBJA gold rate; discount for online buyers).
- Investors get certificates/demat credit once the issue closes.
Example: SGB 2023-24 Series IV opened on 12 Feb 2024 and issued on 21 Feb 2024.
SGB Issue Calendar – Past & Present
- 2015–2024: RBI regularly released annual calendars with 4–6 tranches each year.
- Last issue: SGB 2023-24 Series IV (Feb 2024).
- Status in 2025: No new issue dates announced; the Finance Ministry has paused fresh issuances due to cost considerations.
Current Focus (2025):
- No fresh subscriptions available.
- Only secondary market purchases (NSE/BSE) or redemptions of older series are ongoing.
Where to Find RBI’s Official SGB Calendar
- RBI Notifications: Published on rbi.org.in
- Depositories: NSDL & CDSL update tranche schedules.
- Banks/Brokers: SBI, ICICI, Zerodha, HDFC Bank publish notices.
- Press Releases: Ministry of Finance and PIB.
Pro Tip: Subscribe to RBI alerts or your broker’s notifications to never miss an SGB tranche.
How to Subscribe (When Issues Are Active)
Offline Method (Traditional)
- Visit your bank branch, post office, or SHCIL office.
- Fill out the SGB application form.
- Pay via cheque, demand draft, or electronic transfer.
- Collect the receipt; bonds get issued to your name or demat account.
Online Method (Faster & Cheaper)
- Log in to NetBanking (SBI, HDFC, ICICI, etc.) or RBI Retail Direct Portal.
- Select Sovereign Gold Bonds under “Investments/Services.”
- Enter the amount in grams you want to buy.
- Complete payment via UPI, NEFT, or debit.
- Receive bonds in your demat account or digital certificate.
Online investors usually get a ₹50/gram discount compared to offline buyers.
Key Subscription Details
- Minimum: 1 gram of gold.
- Maximum: 4 kg/year per individual, 20 kg for trusts/institutions.
- Tenure: 8 years, with exit from the 5th year onwards.
- Interest: 2.5% annually, credited semi-annually
What If No New Issues Are Announced?
If you want exposure to SGBs but no fresh issues are available:
- Buy on NSE/BSE: Many old SGBs trade like bonds.
- Track Redemption Windows: RBI publishes half-yearly redemption schedules.
- Compare Alternatives: Gold ETFs and Digital Gold remain options for liquidity seekers.
Why SGB Issue Calendars Matter
- Helps investors plan cash flow before the subscription opens.
- Allows for tax planning (long-term capital gains, exemption at maturity).
- Ensures you don’t miss the discounted entry price offered online.
| Series | Subscription Dates | Issue Date |
|---|---|---|
| 2023-24 Series IV | Feb 12–16, 2024 | Feb 21, 2024 |
| 2023-24 Series III | Dec 18–22, 2023 | Dec 28, 2023 |
The SGB issue calendar once offered Indian investors multiple entry points to buy secure, government-backed gold investments each year. While fresh tranches are currently paused, keeping track of past calendars, redemption schedules, and secondary market opportunities ensures you don’t miss out.
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