Digital Gold refers to a virtual investment instrument, with much more convenience and flexibility than if you were purchasing gold from a shop. Gold has always been the investment of choice, especially to act as a hedge against inflation; and digital gold makes the entire process more transparent and seamless. You can trade in 24K gold at market prices, and have the entire gold redeemed when you want to. Digital Gold on Finserv MARKETS allows you the option to invest safely in the precious metal, all at the click of a button.
By investing in Digital Gold, investors can enjoy a host of benefits that are over and above the benefits that come with purchasing physical gold at a store. Investing in Digital Gold on Finserv MARKETS lets investors avail the following benefits:
No Storage Cost: On Finserv MARKETS, investing in Digital Gold allows you to store your gold in a vault for five years at no additional cost.
Purchase Gold in Small Amounts: You can buy Digital Gold on Finserv MARKETS for as little as Rs. 100.
Buy at Market Rates: When you buy Digital Gold on Finserv MARKETS, you are buying it at the live market prices which are the same across the country. You also get to save making fees and other charges associated with buying gold in the physical form.
Redeem at your convenience: Storing gold in the form of jewellery drives up costs not just through the making charges, but also in terms of storage costs. By investing in Digital Gold on Finserv MARKETS, you can choose to have the gold redeemed only when it is absolutely essential.
Safety and Purity Assured: Digital Gold you purchase on Finserv MARKETS is Assay certified 24K gold. The gold you purchase is backed up by physical gold with the portal, thereby ensuring your investment’s security at all times. You also get access to a vault at no additional cost, for five years; after which point you can choose to redeem or sell the gold.
Easy Liquidity: While gold as an investment instrument is preferred owing to the easy liquidity it offers, digital gold is even more liquid. You can buy and sell it at market rates that are the same across the country, and avail cash easily in case of a financial emergency.
Buying Digital Gold on Finserv MARKETS is extremely simple. All you have to do is follow these simple steps:
Step 1: As an existing customer of Finserv MARKETS, you need to log into the Customer Portal using your mobile number. You will need to confirm your email address and pin code as well. If you are a new customer, you will first have to sign yourself up.
Step 2: Once you have logged into your account on the Customer Portal, you can proceed to purchase gold. Choose whether you wish to purchase the gold in INR or in grams. Make the payment and the gold is yours!
You can sell the Digital Gold accumulated in your Finserv MARKETS account very easily online. Check the market prices for the day, and then once you’ve decided to sell; it’s only a two-step process! Here’s how you can sell the gold in your account:
Step 1: Once again, you will have to log into the Customer Portal for Finserv MARKETS.
Step 2: Just enter the amount of gold you wish to sell, either in INR or as grams. For the payment to be credited, you will have to enter your bank account details. And you’re done!
When you buy Digital Gold on Finserv MARKETS, you have the option to redeem the gold in physical form. The gold will be redeemed in grams and delivered to your doorstep. All you need to do is:
Step 1: Log into the Customer Portal using your mobile number.
Step 2: Choose whether you wish to redeem the digital gold you own, as coins or bars. You can add multiple gold coins or bars, on the basis of how much you plan to redeem.
Step 3: Add the selected amount to the cart. View the charges that will be levied for redeeming this amount of gold.
Step 4: Confirm your residence address as the delivery address for the redeemed gold.
Step 5: Pay the minting and delivery charges for the redeemed gold, and you’re set!
The amount of gold that you redeem (in grams) will be redeemed from the digital gold stored in your locker with Finserv MARKETS. The gold will now be handed over to you at your address.
Digital Gold on Finserv MARKETS can be bought for as little as Rs. 100.
To buy Digital Gold on Finserv MARKETS, you will only be required to provide your name, registered mobile number and pin code for the place where the transaction has been initiated; assuming the cumulative purchases cross Rs. 50,000. If a single transaction amounts to Rs. 2 lakh or more, your PAN card details have to be provided.
NRIs can currently not buy or sell Digital Gold. If you have been a customer of Finserv MARKETS and are now leaving the country, you must either sell or redeem the digital gold that had been purchased. However, NRIs can avail benefits of ‘GoldRush’, which allows for purchase of digital gold through the Stock Holding Corporation of India. NRIs can register for the scheme by providing an ID proof, address proof and their passport. Once the enrollment is complete, they can open a metal account and buy digital gold.
Yes. Individuals wishing to trade in Digital Gold on Finserv MARKETS must be aged 18 years and above.