FAQ's

What is Digital Gold?

Digital Gold is an organised and transparent method of buying 24 carat gold in compliance with all applicable laws and regulations, brought to you by SafeGold. Digital Gold is neither financial product nor a deposit but a method of purchasing gold for your personal needs. You can buy the gold under this plan according to your wish and have complete freedom to seek physical delivery of gold anytime and on as many occasions as you want. Since it is not physically possible to deliver a fractional quantity of gold, the minimum quantity for which the delivery is proposed to be made has been kept as low as 0.5 gram and in multiples of 0.5 gram. Gold will be purchased on your behalf on the basis of clear funds being made available by you for the transaction. Gold in grams up to 4 decimal places shall be credited to your account.

What is SafeGold?

SafeGold is a product of Digital Gold India Private Limited- an institutionally owned company, where the World Gold Council is a minority investor (through World Gold Council (India) Private Limited).

What is the Purity of Gold offered through SafeGold?

SafeGold offers 24 Karat Gold of 995 fineness (99.5% pure) or higher. SafeGold, sources LBMA or India “good delivery” bars from trusted sources for the digital gold offered to you.

Why is the Buy Price different from the Sell Price?

SafeGold offers international grade bullion from institutional suppliers and sells this to consumers. When customers sell gold back to us, we sell it back to institutional participants in the wholesale bullion market, where the buyback rate is lower than the selling rate – this is referred to as the buy-sell spread.

In addition to the buy-sell spread in the commercial bullion market, GST is added to the buy price, but it is not levied on any sell transactions. Further, there are charges incurred on the payment gateway, trustee, insurance and custodian fees which also contribute to the difference in buy and sell price.

What is the minimum lock in period?

There is no minimum lock in period- you can make a one-time purchase of digital gold, without being obligated to make any fixed or periodic payments. Alternatively, you can also sign up to a Gold Savings Instalment Plan (Gold SIP).

What is the role of the “Security Trustee”?

SafeGold has entered into a relationship with Vistra to act as a Security Trustee for all digital gold customers. The Security Trustee is entitled to act on your behalf and ensure that your interests are protected. The Security Trustee will have a charge on the gold associated with accumulations held by you.

What will happen to the gold associated with accumulations in my account, in the unlikely event of the SafeGold going into liquidation?

The gold associated with the accumulations in your account is separate from the other assets of the SafeGold. Vistra, an independent trustee, acts for and on your behalf. The gold purchased by the Company associated with the accumulations in your accounts is held with the Custodian. When you ask for delivery, the requisite quantity of gold will be removed from the Custodian and delivered to you through a reputed courier service. Since the Security Trustee has a charge over the gold, any unlikely adverse event happening to Company will not affect the gold associated with the accumulations in your account. Further, the title of the gold clearly rests with you and the physical gold stored with the Custodian on account of SafeGold customers is not an asset of SafeGold in any way.

What is the minimum & maximum amount I can purchase?

The minimum amount of purchase is ₹10. There is no maximum amount, subject to the completion of KYC verification for your account.

How do I sign up?

You will be required to provide your name, mobile number, email address and pin code to sign up and get started with purchasing. In case you wish to purchase more than the requisite KYC threshold amount, you may also be asked to provide your KYC information like your PAN number.

How do I sell my gold?

SafeGold provides a live sell price quote. You can choose to sell any amount starting with a minimum of ₹10 to a maximum of the amount of gold that you own. The sell quote may be temporarily unavailable in the unlikely event of a disruption in the bullion market.

At what price is gold sold/ bought from customers?

SafeGold will provide a live buy-sell quote for you, which will be derived from the wholesale bullion market plus a commission to cover operating costs. The actual purchase price paid by you will always be transparently published so that you have a chance to compare with all other sources before entering into a transaction.

Where can I find the invoice for each order?

If your email address has been provided, an invoice shall be emailed to you as an attachment after each successful transaction. It is also available on the platform, by clicking on the invoice button.

How can I get my holding statement?

An online statement will be available at all times on the platform.

Is the gold associated with my accumulations kept in safe custody?

The gold purchased on your behalf is stored with Brink's the leading safe keeper of precious metals across the world. The gold is insured, both for storage and transit when being delivered to you. Further, Vistra has charge of all gold stored in the vault in your favour. This ensures that your gold is protected at all times regardless of any external events.

Who will insure the physical vault?

The secure storage provider (Brink's) has a comprehensive, global insurance policy that includes the insurance cover on your gold stored in their vaults. In addition, SafeGold has an additional insurance policy to cover gold in transit.

What is the maximum period of time for which my gold can be stored with SafeGold?

You can store your gold with SafeGold for a period of 10 years from the date of purchase. The custody shall be without charge for the first 5 years, and thereafter, will continue to be stored by SafeGold for a nominal fee to cover storage costs. You will be intimated in advance of being charged the fee, and will have the option to sell or request delivery of your gold at all times.

Is there any lock-in period for this plan?

No, there is no lock-in period from the date of purchase. You can choose to sell any amount of gold at the live sell price starting with minimum of ₹10 to maximum of the amount of gold that you own.

Can I have a joint account for this plan?

No, you cannot have a joint account for Digital Gold.

Can I cancel my sell order/request of gold sell?

No, you cannot cancel the order once it has been successfully placed on the platform.

What if I die during the tenure of the plan?

In the event of your death, as per the process specifically allowed by SafeGold, and subject to the required due diligence, the title to your Gold lying in the vault and your account shall transfer to your legal heir.

What will happen to my gold if my account is not operational on the platform?

We will always endeavour to provide you with immediate access to your gold. If, however, your account has been suspended for any reason, we would request you to get in touch with the platform’s customer service centre, in order to reactivate your account and access your gold once again.

What is the Digital Gold Savings Instalment Plan?

A Digital Gold Savings Plan (“Gold SIP”) is a systematic savings tool that allows customers to accumulate gold by choosing a fixed instalment amount on a weekly/monthly basis for a selected duration. Customers can accumulate gold and later use it to exchange gold for jewellery at the Jeweller Partner (i.e. the Jeweller through whom you have the relationship with SafeGold).

How do I sign up for the Gold SIP?

You can sign up for the Gold SIP by registering for a digital gold account with SafeGold, and completing the process for KYC verification and setting up an e-mandate through your debit card or UPI.

Can I choose multiple Gold SIPs?

Yes, you can choose more than 1 Gold Savings Plan by adding individual SIP details for each.

Can I pay through Post Dated Cheques?

No, this is an entirely digital product, and hence Post-Dated Cheques (PDCs) are not available as a payment method for this product.

Can I choose the frequency of the instalment?

Yes, the frequency of the instalment is up to you. You can choose to purchase on a monthly or weekly basis.

Is there any minimum or maximum term for the Gold SIP?

The minimum term for the Gold SIP is 2 months. There is no maximum term- i.e. you can save through a multiyear instalment plan as well.

What is the minimum amount required to start a Gold SIP?

You can choose a minimum of ₹100 to start the Gold SIP.

Can I make changes to an existing Gold SIP?

Yes, you can make changes to your Gold Savings Plan in two ways – either increase the instalment amount or increase the duration of the plan. However, you cannot decrease the instalment amount, or change the frequency of the instalment. Please write to care@safegold.in to make these changes. It'll take us 2-3 working days to change it for you.

Is this a cash deposit scheme or will I be buying physical gold through the Gold SIP?

The Gold SIP enables you to purchase a quantity of gold in grams or as per a fixed rupee value, on a periodic basis. You will be buying physical gold through each instalment, i.e. this is not a cash deposit scheme.

What proof will I receive for each instalment?

Once the payment for an instalment has been successfully completed, you will be issued an invoice for the purchase.

What price will be applied to each of my instalments?

Instalments shall be deducted at a predetermined time on the date of the instalment. The price for each instalment shall be as per the prevailing buy price offered by SafeGold at the time of completing the transaction.

Will I be eligible for receiving interest on my Gold SIP?

The Gold SIP offered by SafeGold is towards the periodic purchase of physical gold, hence there is no interest component applicable on this.

What if I need to cancel/pause my Gold SIP?

You can cancel or pause your Gold SIP at any time by writing to our customer support team at care@safegold.in. It normally takes 4-5 working days to process a cancellation or pause request, post which you will not be charged for the next instalment. For any instalment that occurs in this timeframe, the amount will be deducted.

How can I withdraw my gold?

You can request delivery for all or part of your gold holding, starting from 0.5 gm, and multiples thereof. You can select the quantity and denomination of the gold you wish to withdraw from the available options of coins. Each coin will have different making charges, based on the weight and design of the coin. You must confirm the transaction by paying the additional making and delivery charge. The coins will be delivered at your notified address by a logistics provider arranged by SafeGold, and you will receive a confirmation on your registered mobile number.

The delivery can be tracked at any time by logging into the platform.

Is it possible to store my withdrawn gold coins in safe custody and have them delivered later?

Once you place a delivery request, you have to accept the delivery made to you. It cannot be made at a later date.

Can I put in a different address from the one I used at the time of registration on the platform?

Yes. you can enter a different address; however, verification of the address change request shall be subject to the platform’s norms. In the event that the new delivery pin code does not fall in our serviceable area, you may have to enter different address.

Can I change my delivery address once I have placed a delivery request?

No, your address on the delivery request, once accepted on the platform, cannot be changed.

Can I cancel my purchase order/request of gold purchase?

No, you cannot cancel the purchase order of gold once it has been successfully placed on the platform.

Can I cancel my delivery order/request of gold?

Once you place a delivery request, you must accept the delivery made to you. It cannot be cancelled or delivered at a later point in time.

Where is delivery of Gold available?

In case of delivery of coin/ bar, the shipment will be mandatorily delivered to your registered address as provided by you and confirmed at the time of delivery request. SafeGold maintains a list of serviceable pin codes, and prior to making any purchase. You will be informed whether their pin code is serviceable by the us.

Are there any charges for delivery of gold?

Yes, you will be required to pay the minting/ making charges, delivery charges and applicable taxes. All coins are independently assayed to certify purity and delivered in tamper proof packaging. Charges are as per the table below:

Can someone else redeem the physical gold coins on my behalf?

No, only you can request for the delivery of physical coins from your SafeGold balance. However, in the event of your death, your legal heir will be able to collect the gold coins by showing their proof of identity of along with the original / notarized copy of the death certificate and proof that the person is your legal heir.

How can I be assured that the gold coins delivered to you are genuine and trust worthy?

All our coins are assay certified for purity by government licensed agencies and delivered in tamper proof packaging and are dispatched directly from our premises. The coins are also insured through transit, and checked before delivery to avoid any risk of fraud. However, in case of any discrepancy, please get in touch with our customer service centre.

What happens to my gold if I deactivate or close my account with SafeGold balance present?

At the time of deactivation, you will be offered the option to withdraw your SafeGold balance or request for delivery of your gold.

What is the process for converting my digital gold balance to jewellery?

You can exchange your digital gold balance for jewellery online or offline, by visiting your Jeweller Partner, and following the process below:

• Choose the jewellery product, for which the Jeweller Partner will instruct you on the quantity of gold to be transferred (as per the Karat weight of gold in the jeweller product). Eg. You may be asked to transfer 3 gms of 18K gold for a chain.
• Log in to the SafeGold platform and navigate to the Exchange for Jewellery tab.
• Enter the weight and purity of gold to be transferred. SafeGold shall calculate the weight of Digital Gold Balance to be transferred in terms of 24K (99.5% purity) weight.
• You will receive an OTP to confirm the transaction
• On verification of the OTP, your digital gold balance shall be transferred to the Jeweller Partner.
• Once you have paid the making charges and completed the payment for the jewellery, your order shall be complete.

Can I exchange my digital gold balance at any other jewellery chain?

If you have purchased Digital Gold through the Jeweller Partner, you can only exchange it for jewellery at their store or online platform.

I have some queries regarding my gold account, how can I get in touch?

Please raise a ticket or get in touch with SafeGold’s customer service centre, through care@safegold.in or by calling 8881000800.

Is there any regulator or Grievance redressal mechanism?

SafeGold is neither a Collective Investment Scheme nor a Deposit. Thus, this plan doesn’t fall under the purview of SEBI or RBI, and there is no regulator for this product offering. To ensure that your interest is of foremost importance, a Security Trustee has been appointed for SafeGold. For any grievances specifically in relation to your gold purchase and related transactions, you can approach the Security Trustee.