Digital Gold

Advantages

Safe Gold is a product of Digital Gold India Pvt. Ltd. The gold purchased electronically is physical gold. Axis Bank is a provider of payment platform for purchase/sale of digital gold and is not liable for the actual product.

What is Digital Gold?

Digital Gold is a mode of buying and selling gold digitally, without having to store it physically. This ensures that while you enjoy benefits of buying gold, such as price appreciation, you don’t have to worry about the hassles related with it, such as storing it safely. Axis Bank enables you to buy digital gold online through the official website or through the mobile/internet banking application.

When you buy digital gold, not only is the transaction securely carried out online, but you can also purchase it for as low as ₹10 instead of having to spend a minimum amount required to buy physical gold by its weight.

If you want to sell or redeem digital gold, you can sell it instantly and get the funds credited to your account instantly. You can also opt for delivery of the gold coins against the gold balance in your account. The physical gold can either be delivered to you or you can exchange it for physical gold at designated offline and online jewellery outlets.

Features and Benefits
Buy & Sell
Terms and Conditions
FAQ's
Support
Related Products

Features and Benefits

Quality assurance:

Every unit of digital gold is backed by the purity of 24K (99.5% purity) physical gold. When you redeem digital gold for physical gold, a quality assurance and purity certificate is issued for the same.

Safe and secure asset:

Digital gold is purchased as an asset, and so it is stored securely in a safety vault under the investor’s name after being covered by insurance. This eliminates any chance of the gold asset being misplaced, lost or stolen.

Physical gold delivery:

After purchasing digital gold online, you can choose to have it redeemed for physical gold that will be delivered to your doorstep as gold coins. The minimum quantity you can opt for gold delivery is 0.5 grams.

Quick and transparent buying:

The purchase price and the buying and selling of digital gold are published in real time such that one can compare prices before buying it. This makes the purchase process quicker as well as more transparent.

Buy & Sell Digital Gold

With an active Axis Bank savings/current account, you can buy digital gold as per your needs. Here is how you can buy digital gold:

Go to the official Axis Bank website and go to the “Explore Products” section
Under this tab, select “Digital Gold” under “Investments”
You can also log into the Axis mobile/internet banking application and select “Digital Gold” under “Investments”
You can buy digital gold online for as low as ₹10 as per the market rates.

You can sell digital gold from your account. Ensure that you provide your correct Axis Bank savings/current account details while making this transaction. Here is how you can sell digital gold:

Log into your Axis Bank mobile app or internet banking account
Go to Digital Gold option and select the ‘sell’ option
You can see the prevailing gold price per gm
Select whether you want to sell by price or in quantity i.e. per gm
Check if the amount of gold holdings in your account is more than the quantity you want to sell

Why should you buy Digital Gold?

Digital gold is not only safe and secure but buying and selling it is easier as compared to physical gold. Here are a couple of other reasons for buying digital gold:

Investors should ideally hold some portion of their portfolio in gold since it offers risk diversification. Traditionally gold prices have served as a hedge against high levels of inflation and uncertain economic conditions. While buying and selling physical gold requires you to make provision to store it safely, buying and selling digital gold is simple and easy. It offers the same benefits of investing in gold without the hassles associated with handling physical gold.
One can opt for either receiving delivery of physical gold or carrying out a sell back if the opportunity is available. Furthermore, anyone with a bank account and a valid PAN card or Form 60 can buy digital gold, which will be safely stored until one wants to redeem it.

Why should you buy Digital Gold?

The eligibility criteria to buy digital gold are simple:

The individual should be a resident of India
The individual should have an active savings bank account or a current account

As an Axis Bank customer with a valid savings bank account, you can easily buy and sell digital gold in a safe and secure manner!

However, you cannot be eligible to buy digital gold if you are:

A minor account holder (below 18 years of age)
An NRI customer without an NRO account

How to get gold delivered at home?

The minimum weight for redeeming or getting delivery of gold coins is 0.5 gm of gold, and the maximum is 20 gm. Here’s how you can get physical delivery of Digital Gold:

Log into your Axis Bank mobile app or internet banking account
To redeem digital gold as per the corresponding options of gold coin (for physical delivery), choose the quantity of the units you want.
Check if the digital gold holding in your account is higher than the quantity you want to redeem.
There will be separate making charges for the gold coins selected on the basis of their weight.
The app will instantly show if the gold can be delivered to your address (using PIN code) or not. In case your PIN code is not serviceable, the order will be rejected, and you can opt for a sell-back of your holdings if possible.
Make the payment for the making and delivery charges of the gold coins through a valid payment mode. This indicates the confirmation of delivery.
Following this, the gold will be delivered to the address you have provided.

How Axis Bank aids buying and selling of Digital Gold

When you buy digital gold, the purchase or sale will be carried out through Axis Bank, which is the payment facilitator. You can use the Axis bank mobile or internet banking application for an easy and hassle-free transaction.

The digital gold is offered by SafeGold, a digital platform that allows you to check the live buy and sell prices of digital gold before you make your purchase. It is necessary to note that these rates can be affected by different factors such as the exchange rates, global gold prices and so on.

When making the purchase, there is a timeframe of 5 minutes during which you should complete your transaction. This is done because gold pricing can be dynamic and may fluctuate every so often.

After confirming the order, verify the OTP on your phone to complete the transaction and have the digital gold credited to your account. You can buy digital gold for as low as ₹10 and need not save a lump sum amount.

To sell digital gold, simply select the quantity you want to sell, check and confirm the market rate and initiate the transaction. After the order is confirmed, the gold will be sold from your account, and the amount will be credited to your bank account within a day.

Things to keep in mind when purchasing Digital Gold

Buying digital gold online comes with a range of benefits, as described above. However, here are some points to remember before you buy and sell digital gold:

Trusted Asset:

Your investment portfolio should comprise different assets and that also includes gold. Buying gold has been one of the oldest investments because largely, daily market fluctuations do not greatly impact gold prices when compared to other assets.

Hedge against Inflation:

When the market faces a downward trend and there is a rise in the inflation rate, the value of gold either remains steady or may also increase. This is why, adding gold to your investments not only diversifies your portfolio but also acts as a hedge against many market risks.

Long-term Asset:

Gold is a financially sound investment for the long term, and since it’s possible to buy digital gold in small quantities over time, you never have to time the market again. Even though digital gold has made it easier to sell your gold at any time, it is far better to keep gold in your portfolio over the long term instead of trading in it in the short term. Buying small quantities of gold over the years can, thus, benefit your investments.

Terms and Conditions

User means the customer of Axis Bank Limited (“Axis Bank”) who holds a savings account or current account with Axis Bank.
Digital Gold means 24 karat (physical) gold kept in a vault that the User can purchase from SafeGold. The User can purchase the gold in fractional quantity from SafeGold (defined hereinafter).
Gold Wallet means the virtual wallet maintained by SafeGold where the Digital Gold balance shall be displayed for the User. The Gold Wallet can be accessed by the User on Axis Bank’s Mobile application and internet banking.
Delivery: SafeGold shall deliver the Digital Gold to the User when the User has bought a minimum 0.5 gram of Digital Gold.
The facility to purchase Digital Gold is provided in accordance with the payment services agreement between Axis Bank and Digital Gold India Private Limited (“ SafeGold”) and conditions pertaining to such agreement shall be updated by Axis Bank and Digital Gold India Private Limited mutually in writing from time to time.
The User accepts that it shall be responsible for entering correct details when initiating a transaction for purchase of Digital Gold. In no case shall Axis Bank be held liable for any erroneous transactions incurred, arising out of or relating to the User entering wrong details during transaction.
Axis Bank shall be responsible for only communicating the transaction requests of the User to SafeGold and facilitating the payment for the purchase of Digital Gold. All subsequent activities, including but not limited to, credit/refund of Digital Gold in the User’s Gold Wallet, Delivery of Digital Gold , sending acknowledgement, resolution of complaints regarding quality or quantity of Digital Gold etc., will be carried out by SafeGold.
Axis Bank shall not be responsible for any of the above mentioned activities of SafeGold and does not make any representation, warranty or undertaking in respect of such activities or the service levels of SafeGold in relation to such requests.
Terms and conditions of Axis Bank and SafeGold apply for purchase of Digital Gold. Axis Bank is not responsible for SafeGold’s products, goods, services and offers.
Usage of any SafeGold’s product / service shall constitute a contract between the User and SafeGold and SafeGold and the User acknowledges and accepts any terms and conditions specified by Digital Gold India Private Limited at https://www.safegold.com/terms-of-use, as amended from time to time or as specified elsewhere.
SafeGold and Axis Bank reserve the right at any time, without notice, to add/alter/change/ or vary any or all of these terms and conditions or to replace, entire or in part, this offer by another offer, whether similar to this offer or not, or to withdraw it altogether.
The User acknowledges that there may be delays or deficiencies in service levels by SafeGold, for which Axis Bank cannot accept any liability.
Nothing contained herein shall constitute or be deemed to constitute an advice, invitation, offer or solicitation to sell/purchase any products/services of Axis Bank.
Axis Bank expressly disclaims any liability to any person, in respect of anything done or omitted to be done by any such person by placing reliance upon the contents showcased for Digital Gold on internet banking platform and Mobile application.
The information provided herein is provided by ‘SafeGold’ and has been provided to Axis Bank for showcasing on its digital channels for general understanding and information. Axis Bank holds no responsibility for the accuracy of the information provided by SafeGold.
In connection with Digital Gold, I hereby acknowledge and agree to the following:
I hereby give consent to SafeGold to contact me from time to time in relation to the services/ goods offered by SafeGold.
Axis Bank shall not be responsible for delay/non Receipt of the Digital Gold balance or Delivery of the Digital Gold.
Axis Bank shall not be responsible for any incorrect information with respect to the Digital Gold available on digital channels of Axis Bank.
For any queries the user can contact [email protected] or call 088810 00800.
All issues / queries / complaints / grievances relating to SafeGold, if any, shall be addressed to Digital Gold Pvt Ltd directly at [email protected] without any reference to Axis Bank. The same shall be addressed by SafeGold within 2 working days of transaction.
All disputes, if any, arising out of or in connection with or as a result of above offers or otherwise relating here to shall be subjected to the exclusive jurisdiction of the competent courts/tribunals in Mumbai only, irrespective of whether courts/tribunals in other areas have concurrent or similar jurisdiction.

FAQs

Storing gold with SafeGold is free of cost for up to 5 years. After this tenure, SafeGold will charge a small fee for the storage which is calculated as 0.3% - 0.4% of your gold balance.

Yes, if you want to purchase digital gold through Axis Bank platforms, it is mandatory to have a valid PAN card

The gold purchased is international grade bullion, which is sold to customers. However, when customers sell the gold, the buyback rate is low, also known as the buy-sell spread. Moreover, the GST is only levied when the gold is purchased but not when it is sold. Lastly, the insurance fees and the fee for storing the gold, which are included in the buy price, will also impact the difference in the buy and sell rates.

The change in live prices of digital gold can be quite frequent, subject to the market conditions and are updated from time to time.

Once you place an order to purchase digital gold, you cannot cancel the transaction or get a refund for the same. However, you may sell and redeem it for physical gold or have the value from the transaction transferred to your bank account.

When you buy digital gold through Axis Bank you can use internet banking or mobile banking application to facilitate digital gold payments.

There are no making charges involved if you want to buy or sell digital gold. However, if you redeem the digital gold against physical gold, you will have to incur the minting charges of the gold coins.

To close your digital gold account, you can simply submit a request to redeem the digital gold. You could also opt to sell it if there is a chance of liquidating the holding.
If there is no digital gold balance in your account, then the account does not need any action from your end.

It is possible to transfer the digital gold balance if the payment facilitating platform is the same for both accounts, between which the gold balance needs to be transferred.

No, there are no additional charges that you need to pay when transferring the digital gold balance.

As an asset class, gold is an effective portfolio diversifier. And therefore from an asset allocation standpoint, holding at least 10-15% of your entire portfolio in gold with a long-term investment horizon is a prudent strategy.

Digital gold purchases are certified 24 karat Gold with 99.5% or higher purity. This ensures that you never have to worry about the quality of gold you’re buying and when you sell, you will receive the market price for the same high-quality gold at that time.

Any Axis Bank customer having an active savings or current account with Axis Bank can use this platform. Customer's PAN number should be available with Axis Bank. Minor account holders & NRI customers not having the NRO account are not eligible to use this platform.

You can buy Digital Gold from Axis Bank Website or Axis Mobile App or Axis Internet Banking. On the website you can find the option under Explore Products > Investments > Digital Gold. On Mobile App & Internet Banking, Digital gold is available in Investments section.

Customer can purchase gold for as low as Rs.10 from the Digital Gold platform.

A live buy-sell quote is published on the screen 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. Gold in grams up to 4 decimal places shall be credited to the customer's account on receipt of funds.

An invoice is sent to you by email/ SMS after each transaction. It is also available in the Orders section on the dashboard.

You can buy/sell gold, 24x7, including weekends and public holidays.

Sell transaction is not allowed for the gold purchased on the same date. However, you can sell your previous gold balance, if any

One can opt for delivery of physical gold in the form of coins. Since it is not physically possible to deliver a fractional quantity of gold, minimum quantity for which the delivery is proposed to be made has been kept as low as 0.5 grams. Delivery can be sought of gold in various denominations such as 0.5, 1, 2, 5, 10 and 20 gms.

The gold purchased on behalf of the customer shall be stored with a reputed custodian on a consolidated basis i.e. daily purchase across all the customers. The Security Trustee (Vistra ITCL India Limited) acts on the customer’s behalf to ensure that gold balances match with customer holdings on a daily basis, and an independent auditor also confirms the balances with the custodian and Trustee each quarter, to reconcile the amounts.

The proceeds for your sell transaction will be deposited in the linked account of Axis Bank that you have selected at the time of selling. The proceeds will be deposited within 2-4 hours for the successful sell transaction.

Digital Gold India Pvt Ltd 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, DIgital Gold India Pvt Ltd has insurance cover for the period where the gold is in transit, when the gold leaves the vault. The risk & insurance policies are reviewed regularly by the company to ensure adequate coverage for additional or specific risks.

For any queries with respect to your gold, you can reach out to [email protected] or call on 8881000800. For any issues with regard to payment, please reach out to Axis Bank.