FAQ's

  • What is the eligibility criteria for SafeGold?

    Any resident Indian with a valid PAN Card/Form 60 and a Bank Account in their name can enroll for SafeGold.

  • Do you charge for storage of my gold?

    SafeGold offers free storage for up to 5 years, after which we reserve the right to charge a yearly nominal fee for the storage of your gold, which would be in the range of around 0.03 - 0.04% (per annum) of your gold balance.

  • Is it mandatory to upload my PAN card?

    It is not mandatory to upload your PAN card, however, you may be prompted to do so:

    • if you wish to make a single purchase of gold that is worth more than Rs. 2,000,
    • if you wish to purchase gold worth more than Rs. 10,000 in one calendar month,
    • or if you wish to purchase more than 10 grams of gold in total

  • Why is KYC needed?

    The safety and security of your gold is always our highest priority, and we are continuously working to improve these aspects. We have upgraded the SafeGold experience to prevent the misuse of your account or unauthorised access to your gold. This will ensure a much safer experience for you, while also allowing you to buy, sell or gift more gold than before.

  • What is the Purity of Gold offered under SafeGold?

    SafeGold offers 24 Karat Gold of 995 purity (99.5% pure).

  • What are the various tenures available under SafeGold?

    Customer is not obligated to make any fixed or periodic payments unless enrolled in a Gold Savings Plan.

  • What is the minimum & maximum amount needed to buy gold on SafeGold?

    The minimum amount of purchase is 10. There is no limit on the maximum amount as long as KYC requirements are complied with. In case of Gold Savings Plan, a customer has to invest in at least 100 worth of gold.

  • How can I get my holding statement?

    An online statement will be available at all times which you can view online by clicking on Transaction History link. A quarterly balance statement will also be sent to customers through email.

  • Can I have a joint account for this plan?

    No, you cannot have a joint account for SafeGold.

  • Is nomination mandatory for SafeGold?

    Nomination norms will be followed as per the distributor’s standards for their product.

  • At what price is gold sold/ bought from customers?

    The Company will publish a live buy-sell quote for customers which will be derived from the wholesale bullion market plus a commission to cover operating costs. The actual purchase price paid by the customer will always be transparently published so the customer has a chance to compare with all other sources before entering into a transaction.

  • Why is the Buy Price different from the Sell Price?

    SafeGold buys 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.

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

    Yes, the gold associated with the accumulations credited in your account is kept in safe custody with a Custodian in accordance with the terms of the offer mentioned in the product brochure. Only reputed firms such as Sequel Logistics and Brinks will be used as a custodian.

  • Who will insure the physical vault?

    SafeGold has partnered with the global market leader in secure logistics and vault services- Brink’s, to store your gold. As part of their duty, the secure storage provider takes out a comprehensive insurance policy, which includes the cover on your gold. Over and above that, SafeGold has insurance cover for the period where gold is in transit, when the gold leaves the vault. We review our risk & insurance policies regularly, to ensure that we are covered for additional or specific risks.

  • Who will manage consumer complaints?

    Distributors will provide the first level of customer support. The Company will be available to satisfy any issues/ questions that may be escalated. You may write to us at care@safegold.in or call our Customer Service team at 8881000800.

  • Is there any regulator or Grievance redressal mechanism?

    SafeGold is neither a Collective Investment Scheme nor a Deposit. Therefore we do not fall under the purview of SEBI or RBI. However, to ensure that your the customer interest is always prioritised, a Security Trustee has been appointed for SafeGold. For any grievances the customer can approach the Security Trustee.

  • What is the role of the “Security Trustee”?

    The Security Trustee is there to protect your interests, by acting on your behalf when it comes to matters concerning your gold. This includes periodic checks of the vault to ensure that there is always more than adequate inventory of gold and providing confirmations each time the gold leaves the vault, including for deliveries.

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

    The gold associated with accumulations in your account is separate from the other assets of the Company. An independent trustee appointed by the Company will act for and on behalf of the customers. The gold purchased by the Company associated with the accumulation in customer accounts is transferred to the Custodian appointed by the Company for the product. When the customer asks for delivery, the requisite quantity of gold will be removed from the Custodian and delivered to the customer through a reputed courier service. Since the Security Trustee has a charge over the gold over other commercial creditors till the time of fulfillment and the gold is separate from the other assets of the Company, any unlikely adverse event happening to Company should not affect the gold associated with the accumulation in your account. Further, the title of the gold clearly rests with the customer and the physical gold stored with the Custodian on account of SafeGold customers is not an asset of the Company in any way.

  • Which are the agencies which certify Gold in India?

    The Government of India has identified Bureau of Indian Standard as the sole agency in India to operate the BIS Hallmarking Scheme. The BIS Hallmarking Scheme has been aligned with International criteria on hallmarking (Vienna Convention 1972). A Hallmark, consists of five components i.e. BIS Mark, the Fineness number (corresponding to given carratage), Assaying and Hallmarking Centre's Mark, Jeweller's identification Mark and year of Marking denoted by a code letter and decided by BIS (e.g. code letter `A' was approved by BIS for year 2000, `B' being used for the year 2001 and `C' for 2002 and 'J' for 2008). The marking is done either using punches or laser marking machine. Some manufacturers also issue Assay Certification which can be obtained through Assay Offices. Assay offices are institutions set up to assay (test the purity of) precious metals, in order to protect consumers. All coins and jewellery offered SaeGold are BIS hallmarked.

  • Is there any lock-in period for this plan?

    For security reasons, you can sell gold only after 2 days of a purchase by date - i.e. if you buy gold on 1st Jan, you can sell any amount from 4th Jan onwards. When it comes to Gold Savings Plans, you can decide the period and frequency you’d like to opt for, but we offer the flexibility of letting you pause the plan if it isn’t possible for you to make a payment on the due date.

  • What is the benchmark for the Price of SafeGold? Can MCX be taken as a benchmark?

    There is no benchmark for comparing the price of SafeGold. MCX cannot be considered as a benchmark, since there are many differences between SafeGold and MCX. MCX gives the prices of a futures contract which doesn’t give the landed prices by factoring in cost of logistics, insurance, safekeeping, etc. MCX also does not include pan India delivery, and based on the contract it gives delivery at only a few locations like Mumbai, Ahmedabad, Delhi, etc. SafeGold gives delivery across the country, and includes the cost of storage, insurance, trustee fees and gives you the landed, complete price of Gold. Also the gold price quoted in newspapers and on various websites is the wholesale price in multiples of 1kg of gold. SafeGold price is valid for fractional grams and therefore is not directly comparable.

  • Who is Digital Gold India Private Limited?

    Digital Gold India Private Limited (Company) is an institutionally backed company, primarily owned by Invent Advisors Private Limited (Invent). The World Gold Council (India) Private Limited, as well as various other investor funds, hold minority stakes in the Company. SafeGold is the retail brand of the Company.

  • Will the customer need to show any identity proof at the time of taking the physical gold coins?

    No, there is no identity proof required to be shown at the time of delivery.

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

    Only in case of death of the applicant, the legal heir will be able to collect the gold coins by showing the proof of identity of along with the original / notarized copy of the death certificate and proof that the person is the legal heir of the applicant.

  • What if the customer dies during the tenure of the plan?

    The legal heir of the customer can claim the customer’s account by following the process detailed above. Thereafter, they can access the customer’s account, including selling the gold balance or requesting for delivery of the gold.

  • How can one change their registered mobile number on SafeGold?

    If you would like to change your registered mobile number on SafeGold, you will need to submit your KYC details on our customer care email id at care@safegold.in and we will update you.

  • How can one update their Aadhar Card on SafeGold?

    If you would like to update your Aadhar Card details on SafeGold, you will need to submit the updated card details on our customer care email id at care@safegold.in and we will update you.

  • What happens when payment is deducted through one’s credit card/debit card but the gold is not credited in one’s SafeGold balance?

    If the payment has been debited from your debit/credit card and the gold in your SafeGold balance has not been credited, you will need to contact our customer care team at care@safegold.in and we will resolve your issue.