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How do I sell the digital gold purchased on Finserv MARKETS?

By Finserv MARKETS - Aug 27,2019
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How do I sell the digital gold purchased on Finserv MARKETS

Gold has value through history and is integrated into cultures for thousands of years. It is that piece of metal — which cannot be replicated or reproduced — we fall back to when the currency is devalued. It always carries insurance in hard times. Owning gold is looked upon as having the edge over both deflation and inflation, giving it the features that make it a brilliant addition to the investment portfolio.

However, when it comes to purchasing gold, there are a couple of things that you need to take care of — the authenticity of the gold and its safety after you buy it. With the market shifting platforms — from physical stores to online stores — buying gold too has taken a shift. Now, you can buy gold online on Finserv MARKETS without having to worry about the insecurities that are attached to purchasing physical gold. There is hardly any documentation required and you can track your finances anytime, anywhere.

The liquidity factor of gold

One of the best factors of going online for buying gold is that unlike traditional gold, you get access to high liquidity — you can sell all of your gold, or a part of your gold with just a few clicks and the money gets credited into the account within minutes.

How do I sell the digital gold purchased on Finserv MARKETS

The price of online gold, at large, can be volatile for the short term, but its tendency is such that it always attracts gains in the long run. The factor of long term gains which is associated with online gold also defines its investment strategy, where you have to purchase it in grams or rupees, let it stay in your portfolio for some time, and sell it when the rates are high. You can also make gold as a segment of your investment portfolio in the long run.

With liquidity at hand, gold is one of the most accessible means of investment.

How to sell online gold on Finserv MARKETS

The process of selling gold, much like buying gold is hassle-free and straightforward on Finserv MARKETS. It’s a two-step process that can be done with much ease.

All you have to do is log in to the customer portal using your mobile number and then enter the amount of gold that you want to sell — you can do so in grams or rupees. You need to provide your bank account details to have the amount credited.

Once you have done that, the money is credited to your bank account, and the transaction is completed.

You also have the option to redeem the gold that you have purchased on Finserv MARKETS. You can redeem the gold in grams and have it delivered to your doorstep. The process of it is quite simple. For this, you will have to log in to the portal, and then choose how exactly you want your gold to be redeemed. Do you want to have it converted to coin, or do you want to have them molded into bars?

That decided you need to add gold to your cart and then proceed to review the charges that are levied to mint it. Once that is done, you can confirm your delivery address and have the gold delivered to you. The quantity you have redeemed or converted into physical gold will be deducted from your account.

Some basic documents are required from your side to complete the Know Your Customer (KYC) process. To buy gold online, you will have to provide your name, your registered phone number, and the pin code of the place where the purchase has been initiated. If your transaction amount exceeds Rs 2 lakh, then you will also have to provide your PAN card number.

Conclusion

The minimum transaction amount for you to purchase gold online is Rs 100. As per the current Indian laws, only Indian citizens are allowed to purchase gold online, which means that NRIs cannot avail of this facility. If you plan on relocating to another country, then you will have to consider selling your gold or liquidating it.

NRIs, however, have the option to buy gold online through the Stock Holding Corporation of India, also known as GoldRush. With GoldRush, NRIs have the option to open an account for purchasing gold after complying with the registration process.

Finserv MARKETS, from the house of Bajaj Finserv, is an exclusive online supermarket for all your personal and financial needs. We understand that every individual is different and thus when you plan to achieve your life goals or shop for the gadget of your dreams, we believe in helping you Make it Happen in a few simple clicks. Simple and fast loan application processes, seamless, hassle-free claim-settlements, no cost EMIs, 4 hours product delivery and numerous other benefits. Loans, Insurance, Investment and an exclusive EMI store, all under one roof – anytime, anywhere!

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Bajaj Finserv Direct Limited ("BFDL"), erstwhile Bajaj Financial Holdings Limited is a registered corporate agent of Bajaj Allianz Life Insurance Company Limited and Bajaj Allianz General Insurance Company Limited under the IRDAI composite registration number CA0551 valid till 10-Apr-2021. BFDL also renders services to Bajaj Finance Limited (‘BFL’) and Bajaj Housing Finance Limited (‘BHFL’) (referred hereinafter as ‘Lending Partner’) in sourcing of customers, providing preliminary credit support activities, fulfilment services and post-acquisition customer services related to lending business. Registered Office: Bajaj Auto Limited Complex, Mumbai – Pune Road, Akurdi, Pune – 411 035 CIN: U65923PN2014PLC150522