Digital gold: Where to purchase? Features and drawbacks defined

Ahead of the festive seasons in India, jewellers are promoting gold for as little as ₹100. Digital gold gross sales aren’t a brand new idea in India, with rising digital purchases extra persons are exploring the choice of shopping for the yellow steel through the web. Tata Group’s Tanishq, Kalyan Jewellers India Ltd., PC Jeweller Ltd are promoting gold for as little as ₹100 both instantly on their web sites or by way of tie-ups with digital gold platforms.

What is digital gold?

Buying digital gold could be very straightforward. It may be purchased on-line and is saved in insured vaults by the vendor on behalf of the shopper. All you require is Internet/cellular banking and you’ll put money into gold digitally anytime, anyplace.

Key options of digital gold

Safety Guaranteed

Unlike bodily gold, it’s nearly purchased and also you don’t have to fret about theft or costly locker charges. 

Sell anytime from residence

Sell anytime, with out going anyplace and obtain cash instantly in your account.

Convert to bodily gold

You can convert your digital gold to bodily gold anytime within the type of jewelry in our retailer or our web site.

Buy as little as ₹100

Digital gold doesn’t require a big sum of cash for purchasing. You can purchase primarily based in your finances

How you should buy digital gold through Tata Group’s Tanishq

1) Login or Register with Tanishq.

2) Complete your account setup with eKYC

3) Enter your quantity in rupees or gold in grams to purchase

4) Choose your fee technique. You could have a number of fee choices to select from equivalent to an account, card, or pockets.

Three main digital gold sellers

India has three main digital gold sellers—Augmont Gold; MMTC-PAMP India Pvt. Ltd

Advantages of digital gold

One of some great benefits of digital gold is that it offers the choice to take bodily supply of gold. One can take bodily supply on the completion of the funding interval or every time one sells the gold. But bear in mind, there are making prices as bodily gold must be delivered within the type of cash or bars, relying on the amount. Making prices varies relying on the design of the coin. Apart from this, supply prices must be paid individually.

Disadvantages of digital gold

1) GST on digital gold

When you purchase digital gold, it’s good to pay 3% items and providers tax (GST) similar to within the case of shopping for bodily gold.

2) Lack of an official government-run regulating physique equivalent to RBI or SEBI.

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