Sovereign Gold Bonds (SGBs) can be redeemed in two ways — either through the primary market with the Reserve Bank of India (via the FYERS SGB portal) or through the secondary market by selling on NSE/BSE using FYERS platforms. The redemption price depends on which route you use.
Redeeming SGBs via Primary Market (RBI)
- Eligibility: Redemption is available only after the 5th year from the issue date.
- Window: Allowed only on RBI interest payment dates.
Process:
- Submit your redemption request through the FYERS SGB portal: https://sgb.fyers.in/
- RBI redeems the bond at the market-linked gold price (average closing price of 999 purity gold over the last 3 business days).
- Automatic redemption: If you hold the bond till full maturity (8 years), RBI will automatically redeem and credit proceeds to your linked bank account.
Redeeming SGBs via Secondary Market
You can sell your SGBs anytime in the secondary market through FYERS Web, FYERS App, or FYERS Trader. This works like selling a stock on NSE/BSE.
Platform links:
Note: The screenshots below are from FYERS Trader. The process is similar on FYERS Web and App.
Steps to redeem SGBs on FYERS (Secondary Market)
- Login to FYERS Web/App/Trader: Use your trading credentials to sign in.
- Search for your SGB series: In the Add Symbol/Search bar, type the bond name (e.g.,
SGBJUL29-GB).
- Check the chart and price: Review current bid/ask price and trading volume.
- Place a sell order: Select CNC – Market (or limit), enter quantity, and confirm.
- Execution: The order is filled only if matching buyers exist. If liquidity is low, you may need to adjust the price.
Sell Price Summary
Primary Redemption (RBI): You receive the official RBI redemption price, calculated as the average closing price of 999-purity gold over the last 3 business days before redemption.
Secondary Redemption (FYERS Web/App/Trader): The price you receive depends on the current market demand on NSE/BSE. This may be higher or lower than RBI’s reference price, depending on liquidity and buyer availability.
What if...
| Scenario | Resolution |
|---|
| You want to redeem after 5 years but before 8 years | Submit a redemption request through sgb.fyers.in, aligned with the next RBI interest date. |
| You need funds urgently and cannot wait for RBI redemption | Sell your SGBs in the secondary market via FYERS Web/App/Trader. Check out this article to learn about the buying process. |
| No buyers for your SGB at listed price | Modify your sell order closer to the current bid. To know about liquidity, refer to this article. |
| You miss selling before maturity | RBI will automatically redeem the bond at maturity (8 years) and credit funds to your bank account. |
Plan your redemption early — Primary market requests are only available on RBI interest dates, while secondary market sales may face low liquidity.
Last updated: 24 Sep 2025
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