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Is there a minimum or maximum transaction value for digital gold on Finserv MARKETS?

By Finserv MARKETS - Aug 27,2019
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s there a minimum or maximum transaction value for digital gold on Finserv MARKETS?

If you ask the women of any average Indian household about their investment plans, expect an answer with 99.5 % probability in favour of investing in 24K gold, just like the purity of the metal. In India, the yellow metal is considered not just auspicious as a sign of wealth and prosperity, but also a reliable savings and investment instrument due to three key criteria- safety, liquidity and returns . Owing to a vast festive season round the year, gold is a highly popular commodity in India, making it the world’s second largest gold consumer after China.

Most Indians preserve their gold in its physical form such as jewellery and artefacts, which can be cumbersome when the reserves are huge. Of late, Indian consumers across all sections of the society have embraced a new initiative called the Digital Gold that’s creating a transformational impact in the way how consumers access gold. Digital Gold is a simple and convenient way to buy and sell gold online. It allows you to buy or sell gold online in fractions or grams by paying meagre amounts – a major departure from waiting to save enough for purchase of gold in desired quantity.

Why opt for Digital Gold investment?

For thousands of years, Indians are accustomed to buying physical gold from acquainted goldsmiths or trustworthy jewellers since it gives them a sense of guarantee about the gold’ quality and purity. So, the ‘golden’ question of every gold consumer is – why should one choose Digital Gold investment? The answer lies in the challenges that traditional form of gold purchase poses, some of which are listed below:

Investment quantity: Traditional form of gold purchase requires a minimum limit on the quantity of gold that can be purchased in the form of a gram and 1 gm of gold costs approximately Rs. 3800, as of date. On the contrary, Digital Gold investment is affordable, allowing you to buy and sell in much meagre denominations as low as Rs.10, and invest in smaller fractions of gold quantities that are less than a gram. This is a boon for people with limited incomes who wish to invest in gold.

Storage hassles: Security is a major concern for preserving physical gold and you would need a safe locker to preserve it. Keeping it at home can be risky since the chances of theft are enormous. You’ll need to preserve the physical gold by opening a safe vault in the nearest bank branch, and bear expensive annual charges, service charges, in addition to the registration charges levied depending on the locker size. On the other hand, you can accumulate your gold in safe Digital Gold vaults that are insured and do not levy any such charges.

Convenience: In addition to good riddance of storage woes, investing in digital gold shall save you the trouble of scheduling a visit to a physical jewellery store to buy or sell gold. You can invest in digital gold by creating an online account with a couple of mouse-clicks. Also, when you sell gold, you need not walk to a bank branch to deposit the money, since the money gets credited into your registered bank account directly in a few days.

Gold price at face value: Most jewellers levy exorbitant extra charges on the gold price like making charges, and the cost of any studded gem stones when you buy ornamental jewellery from their stores. When you liquidate this gold jewellery, these extra charges can never be claimed back. However, when you choose the digital gold option, you shall only trade in 24K pure gold with no or nominal making charges, and the entire money paid shall be invested only in gold. Also, the sale value is totally at current market-linked gold prices

Liquidity: Physical gold does face a few liquidity issues like selling it back to the bank or jeweller that you purchased from, to obtain its complete resale value. Moreover, the respective dealer shall ask for a purchase bill, to give the complete resale value of physical gold. With Digital gold investment, you can totally do away with such hassles when you want to sell gold and redeem a complete resale value. You can buy and sell gold anytime as per your wish.

 

How does Digital Gold work on Finserv MARKETS?

Several trustworthy digital platforms including Finserv MARKETS are offering gold in digital form which can be bought and sold with the click of a button. On Finserv MARKETS you need to sign up and log in to the Digital Gold’s customer portal using your mobile number. Once logged in, you can enter the amount of gold you wish to buy/sell in grams or INR. The minimum transaction amount for purchasing digital gold on Finserv MARKETS is 100 INR, and there is no cap on its maximum purchase limit. For sale of gold, register your bank account details for direct credit of payment. The gold you purchase online is insured on Finserv MARKETS until the time it is handed over to you in its physical form. Unlike minimum purchase limit, there is no minimum or maximum limit on the amount of gold (in grams or INR) that you can sell online at market-linked prices.

If you want to redeem the gold and have it delivered to your home address, you can do so by adding the number of coins or bars of gold (in grams) that you plan to redeem to the cart. Coin minting and delivery charges shall apply, and the weight of the gold redeemed (in grams) shall be deducted from the gold you have stored in your digital safety vault. Once redeemed, the physical gold shall be delivered to your registered address.

On Finserv MARKETS, you can be assured of seamless buying, selling and redeeming of gold processes with no hidden charges and documentation. You can now purchase 24K gold) online 99.5 percent purity, and be assured of the authenticity and security of the purchase. Your digital gold investment is insured without paying a single penny for gold storage, and with no additional costs like the making charges.

 

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