Para 11 - Redemption - Sovereign Gold Bonds Scheme, 2015

11. Redemption. (1) The Gold Bond shall be repayable on the expiration of eight years from the 26th November, 2015, the date of the issue of Gold Bonds: Provided that premature redemption of Gold Bond may be permitted after fifth year from the date of issue of such Gold Bond on the date on which interest is payable. (2) On maturity, the Gold Bonds shall be redeemed in Indian Rupees and the redemption price shall be based on simple average of closing price of gold of 999 purity of previous week (Monday to Friday) published by the India Bullion and Jewelers Association Limited. (3) The receiving office shall inform the investor of the date of maturity of the Gold Bond one month before its maturity.