How Can I Check Sovereign Gold Bonds?

Sovereign Gold Bonds (SGBs) are government securities linked to the price of gold. They are denominated in grams of gold and were introduced as an alternative to holding physical gold. Under the scheme, SGBs had an eight year maturity and offered fixed interest of 2.50% per year on the nominal value, paid every six months.

However, the government has stopped issuing fresh SGBs. February 2024 SGB Series IV was the last issue. Later in February 2025, the government confirmed that the scheme would not continue, citing the high cost of borrowing associated with SGBs. Rising gold prices increased the government's redemption liability, while it also had to pay interest on the bonds.

Existing SGB holders can still check their holdings, interest payments, maturity dates and redemption details.

How Can I Check my SGB holdings online?

The easiest method depends on where your SGBs are held. It may include your demat account, depository statement, and SGB certificate.

Check SGBs through your Demat Account

If you purchased Sovereign Gold Bonds through a stockbroker and opted for dematerialisation, your SGBs should appear in your demat holdings. Log in to your broker's website or mobile application and follow these steps:

1. Open your Portfolio or Holdings section.
2. Select your Demat Holdings.
3. Search for "Sovereign Gold Bond", "SGB" or the relevant SGB series.
4. Check the number of units held.
5. Note the SGB series and quantity.
6. Check the current market price if the bonds are listed and available for trading.

Remember that SGBs are denominated in grams of gold. RBI's scheme framework specifies 1 gram as the basic unit of an SGB.

For example, if your demat statement shows an SGB holding of 20 units, this generally represents 20 grams of gold under the bond's denomination.

Check your depository statement

You can also verify dematerialised SGB holdings through your depository records. India has two securities depositories, NSDL and CDSL. Your SGB holding may appear in the consolidated account statement associated with your demat account.

This method can be useful when you have accounts with multiple brokers and want to verify your overall securities holdings. Look for details such as:

• SGB series
• ISIN
• Quantity
• Date of acquisition
• Security description

The ISIN is particularly useful because different SGB tranches have different security identifiers.

Check the SGB certificate

If you purchased SGBs without dematerialisation, you may have received an SGB Holding Certificate. The certificate contains important information about your investment, including the investor details, quantity of bonds and relevant SGB series.

If you cannot find the certificate, contact the bank, post office or other authorised receiving office through which you purchased the bonds.

Do not assume that the absence of a physical certificate means that your investment has disappeared. The issuing institution should be able to help verify the holding against its records.

How can I check the SGB maturity date?

The maturity date is one of the most important details to check. Under the SGB scheme, the normal tenor is eight years from the date of issue. Premature redemption is permitted after the fifth year, subject to the applicable interest-payment date.

You can calculate the expected maturity by looking at the issue date of your particular SGB series.

For example, if an SGB was issued on 15 September 2018, its normal maturity would fall approximately eight years later, subject to the specific terms and official redemption schedule.

However, investors should not rely only on their own calculation. RBI publishes official announcements for final and premature redemption of specific SGB series. Its SGB website lists redemption announcements by series and date.

Therefore, after identifying your SGB series, check RBI's official SGB announcements for the applicable redemption information.

How can I check SGB interest payments?

SGBs provide periodic interest in addition to exposure to gold prices. Under the standard SGB scheme terms, the interest rate is 2.50% per annum on the nominal value, with interest paid every six months.

For example, suppose you purchased 10 grams of SGB at an issue price of ₹6,000 per gram.

Your nominal investment would be: 10 × ₹6,000 = ₹60,000

At 2.50% annual interest: ₹60,000 × 2.50% = ₹1,500 per year

The interest is generally paid in two instalments. However, remember that the interest is calculated on the initial investment value or nominal value, not on the current market value of your SGB.

Therefore, if gold prices rise substantially after your purchase, your SGB's market value can increase while the fixed interest calculation continues to use the applicable nominal value.

READ MORE: What is paper gold?

Is any SGB currently available for fresh subscription?

No. There is currently no fresh SGB tranche open for subscription. The last SGB issues listed by the RBI were part of the 2023-24 series. The RBI's official SGB portal does not currently list a new subscription calendar after these issues.

Therefore, an investor looking for a new SGB directly from the government cannot currently purchase one through an RBI subscription window. An existing SGB series may still be available through the secondary market.

Why has the SGB scheme stopped new issuances?

The decision to stop fresh SGB issuance is linked to the increasing cost of the scheme for the government. SGBs were launched in 2015 to provide an investment alternative to physical gold and help reduce demand for imported gold.

However, the sharp increase in gold prices increased the government's potential redemption liability on outstanding SGBs.

The government also pays a fixed interest rate on these bonds. As a result, SGBs became a relatively expensive borrowing instrument compared with conventional government securities.

This is why the government has not announced fresh SGB tranches after February 2024. The discontinuation of fresh issuance does not cancel existing bonds. Older SGBs continue to operate under their original terms.

Final thoughts

For new SGB availability, there is currently no active government subscription window. For existing SGBs, the series, ISIN, issue date, maturity date, interest details and redemption schedule can be checked through RBI records and demat statements.