Apart from buying and selling gold, you can even choose to redeem it and have your purchase delivered to your doorstep. However, do keep in mind that you can only redeem gold in grams. To facilitate this process, here’s what you need to do –
- Log in/Sign-up to the Customer Portal using your mobile number.
- Choose how you wish to redeem your 24 karat gold. The options available include coins and bars. Moreover, you can add multiple gold coins basis how much you plan on redeeming. Once done, you just need to add this to your cart.
- View/Know the charges levied for the minting of coins.
- Confirm your delivery address.
- Proceed to pay the coin minting and delivery charges.
- The amount of gold you have redeemed (weight in grams) will be deducted from the gold that you have stored in your safety locker.
Upon redeeming your gold, it is delivered to your registered address.
Features of Digital Gold with Bajaj Markets
Redeeming Gold
If you wish to withdraw or redeem the gold that you have purchased, you can request for all or part of your gold holding, between 1 gm and multiples thereof. Thus, you can also get gold delivered to your doorstep by choosing to redeem your accumulated reserves as coins or bars.
Manage all your queries here
Is there any change in the price of gold if I buy and sell it on the very same day?
The price at which one sells gold, irrespective of the day, is always lower than the price at which one purchases this commodity. Several factors such as bank charges, processing fees and taxes are responsible for this. The price of gold when purchased in grams includes a host of taxes, customs duty, foreign exchange conversion and operational costs. However, making or manufacturing charges and delivery charges are not factored. Hence, the price is updated on a regular basis. You can check the pure gold rate on our website before making a decision.
What KYC documents are required to buy/sell gold online?
Here is the information that you must provide to buy coins/bars online:
1. Your name
2. Your registered mobile number
3. Pin Code of the place where the purchase of digital gold is initiated.
The information mentioned above is necessary for cumulative transactions that cross ₹50,000. For single transactions that amount to ₹2 Lakhs or more, you will be required to provide your PAN card details.
Is there a cap on the minimum amount of digital gold that one can purchase?
Are gains made on the sale of digital gold taxable? Also, can I show the losses while filing for taxes?
Is there a locking period or validity of price when buying/selling digital gold?
What happens after I sell my pure gold?
Is there a time limit to keep my gold in a vault?
I have just purchased gold online but I’ve changed my mind. Is there a possibility for me to cancel my order?
Once your online gold purchase order is accepted, you cannot cancel it.
Are digital gold prices static across cities in India?
Gold price is linked to live market prices and not set any local gold association. Hence, the price of online digital gold is the same across the country.
IDBI Trusteeship Services Limited is the custodian for gold
*Assay-certified Gold
