An SGB calculator for Sovereign Gold Bond returns and tax
Sovereign Gold Bonds pay twice: 2.5% interest a year on the issue price, and on redemption the value of the gold, at the RBI’s price per gram. This SGB calculator puts both together for any of the 67 tranches issued between November 2015 and February 2024. Choose your series and number of units and it fills the issue date, issue price and interest rate, and — for tranches that have already matured — the RBI’s final redemption price.
You can model holding to maturity, early redemption through the RBI on an interest date after five years, or selling on the stock exchange (or valuing your bonds today), and whether you subscribed at issue or bought in the market. It shows every interest payment, the capital gain, the tax under the current rules, and the annualised return (XIRR) before and after tax. No new tranches have been issued since February 2024, but the existing bonds run until 2032.
How to use the Sovereign Gold Bond (SGB) Calculator
- Choose your tranche (e.g. SGB 2018-19 Series I) and enter the number of units — one unit is one gram.
- Say whether you subscribed at issue (tick the box if you paid online with the ₹50 discount) or bought on the exchange, with the date and price.
- Choose the exit: maturity, early redemption via RBI on an interest date, or sale on the exchange / value today.
- Check the redemption or sale price per gram — filled in from RBI for matured tranches, otherwise type the RBI price or your estimate.
- Enter your tax slab, then read the total value, interest, gain, tax and XIRR.
Sovereign Gold Bond (SGB) Calculator features
Every tranche
Issue dates, nominal prices and interest rates (2.75% for the first five issues, 2.5% after) for all 67 series.
RBI redemption prices
Final redemption prices for matured tranches from RBI press releases, with the release date.
Three exits
Maturity, premature redemption on the 10th–15th interest date, or exchange sale on any date.
Tax after Budget 2026
Works out whether the gain is exempt or taxable from the dates and how you hold the bonds.
XIRR before and after tax
An annualised return from the actual dates of every cash flow.
How SGB returns are calculated
Interest each half-year = units × issue price × rate ÷ 2, paid on the nominal issue price (the online discount does not reduce it); the 16th payment comes with the principal at maturity. Redemption value = units × the RBI redemption price, which the RBI sets as the simple average of the India Bullion and Jewellers Association’s closing price of 999 gold for the three business days before the redemption date (RBI FAQ on SGBs; older releases used the previous week).
Worked example: 10 units of SGB 2018-19 Series I, issued on 4 May 2018 at ₹3,114, paid ₹389.25 every six months — ₹6,228 over eight years. The RBI’s final redemption price for 4 May 2026 was ₹14,901 (press release of 30 April 2026), so the bonds returned ₹1,49,010: a capital gain of ₹1,17,870, tax-free for an individual who subscribed at issue, and ₹1,55,238 in all on ₹31,140 invested.
Tax on Sovereign Gold Bonds (as of 19 October 2026)
- Interest is taxable at your slab rate every year; no TDS is deducted (RBI FAQ).
- Redemption at maturity is exempt for an individual who subscribed at the original issue and held the bonds continuously until maturity. The Finance Act 2026 (assented 30 March 2026) narrowed the exemption to exactly this case from tax year 2026-27; before 1 April 2026, any individual’s redemption through RBI — including bonds bought on the exchange and premature redemption — was exempt.
- Everything else is taxable: selling on the exchange, bonds bought in the market, and — on the commentary available — premature redemption from April 2026. Gains on bonds held more than 12 months are long-term, taxed at 12.5% without indexation; otherwise at your slab rate.
- This summary is not tax advice; confirm the treatment for your case. Our capital gains tax calculator covers other assets.
Final redemption prices in the tranche list
| Series | Redemption date | RBI price per unit | Press release |
|---|---|---|---|
| SGB 2015-I | 30 Nov 2023 | ₹6,132 | 24 Nov 2023 |
| SGB 2016-17 Series II | 30 Sep 2024 | ₹7,517 | 27 Sep 2024 |
| SGB 2016-17 Series IV | 17 Mar 2025 | ₹8,624 | 13 Mar 2025 |
| SGB 2017-18 Series I | 9 May 2025 | ₹9,486 | 2 May 2025 |
| SGB 2017-18 Series II | 28 Jul 2025 | ₹9,924 | 25 Jul 2025 |
| SGB 2017-18 Series XII | 18 Dec 2025 | ₹13,245 | 17 Dec 2025 |
| SGB 2017-18 Series XIII | 26 Dec 2025 | ₹13,563 | 24 Dec 2025 |
| SGB 2017-18 Series XIV | 1 Jan 2026 | ₹13,486 | 31 Dec 2025 |
| SGB 2018-19 Series I | 4 May 2026 | ₹14,901 | 30 Apr 2026 |
Sovereign Gold Bond (SGB) Calculator FAQ
How is SGB interest calculated?
Units × issue price × 2.5% ÷ 2 every six months. 10 units issued at ₹3,114 earn ₹389.25 each half-year. The SGB calculator lists every payment date.
How is the SGB redemption price decided?
The RBI takes the simple average of IBJA’s closing price for 999-purity gold over the three business days before the redemption date and announces it in a press release.
Is SGB maturity tax-free?
For an individual who subscribed at issue and held until maturity, yes. Since 1 April 2026, bonds bought on the exchange or redeemed early do not get the exemption.
When can I redeem SGB early?
Through the RBI on an interest payment date after the fifth year, by applying via your bank, post office or depository participant before the window. You can also sell on the stock exchange at any time.
Is there an SGB calculator in Excel?
You can reproduce it: interest = units × issue price × rate ÷ 2 per half-year, plus units × redemption price, and XIRR on the dated cash flows. This page does the same in your browser and shows the steps.
Is this investment advice?
No — calculations only. Gold prices rise and fall, and SGB prices on the exchange can differ from the gold price.