FAQ

About Digital Gold

1What is Digital Gold?
Digital gold is a virtual form of gold. It allows you to purchase specific quantities of this precious metal online, eliminating the need to buy gold in its physical form. It can be bought in multiple transactions, of any denomination and accumulated over a long period of time. When needed, you can redeem your savings as cash into your bank account.
2Is Digital Gold real Gold?
Yes, it is 24k pure gold. It is backed by physical gold that's stored in vaults, so you don’t have to worry about storing it. You just need to start investing on Invest BharatPe and you’re good to go.
3How is Digital Gold better than Physical Gold?

There are multiple reasons where digital gold is better than owning physical gold.

  • Convenient: You can buy any amount of gold, starting from ₹100, and can easily sell it online, 24/7 at real time prices.
  • Authenticity: It is certified 24k gold of 99.99% purity, unlike physical gold, where the authenticity is often questionable, depending on the genuineness of the selling jeweler.
  • Pricing: There are no making charges involved, and the buy rates are derived from the wholesale bullion market.
  • Safety: All the gold is kept in a secure vault, so you don't need to rent a locker or pay insurance to protect your gold.
4What is Safegold?
Safegold is Invest BharatPe’s Commercial Partner which enables the digital gold platform. All the purchases and selling related to digital gold is facilitated through Safegold. This enables you to purchase and sell 24k gold on your phone, without any hassle. SafeGold is the retail brand of Digital Gold India Private Limited, which 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.
5Where is my Gold stored? Is it safe?
The gold you purchase through our platform is stored with Brink’s - the global market leader in providing secure logistics and vault service for precious metals. The safe storage provider insures your gold as part of their obligation by obtaining a full insurance coverage.
6What is the role of the ‘security trustee’?
Safegold has partnered with IDBI Trusteeship Services Limited, a SEBI regulated trustee to protect the customer’s interests. They have a charge on all gold stored in the vault, in your favor. This guarantees that, in spite of external circumstances, your gold is always safe. This also entails conducting routine inspections of the vault to guarantee that there is always an ample supply of gold on hand and offering verifications each time the gold is removed from the vault.
7What is the purity of Gold purchased?
The gold offered by Safegold is 24K gold of 99.99% purity, meaning that it is 99.99% pure.
8Where can I see the current Gold price?
  • While buying gold, you can view the live price of gold at the top-right of the 'Invest in Gold' page.
  • While selling gold, you can view the live price of gold at the top-right of the 'Sell gold' page.
9Why is Gold’s buying and selling price different?
The gap between the price you pay to buy gold and the lower price you get if you want to sell it is known as the buy-sell spread. This spread exists because of various factors like fees, demand and supply, market volatility etc. These prices are set by gold partners and regulatory bodies based on the above criterias. You will see this difference in most of the tradable commodities, including gold.

Buying

1Is KYC required to start investing in Gold on Invest BharatPe?
Yes, we require you to complete your KYC before you start investing in gold. This makes using your account safer by preventing unauthorized access to your gold and preventing account misuse.
2How to start investing in Gold?

You can start investing in gold on Invest BharatPe in just a few simple steps.

  • Open the Invest BharatPe app
  • On the ‘Home’ screen, tap on ‘Invest’
  • On the ‘Choose my own’ screen, tap on ‘Invest Now’ on the gold card
  • Enter the amount of gold you want to purchase, and tap ‘Continue to invest’
  • Complete your payment to successfully invest in gold

OR

  • Go to ‘Portfolio’
  • Tap on ‘Invest now’
  • Complete your payment to successfully invest in gold
3What is the minimum / maximum value of Gold I can buy?
The minimum amount of gold you can buy is ₹100. There is no maximum limit on gold as long as the KYC is completed. However, some UPI apps have a daily transaction limit which you need to keep in mind.
4What are the payment options available to buy Gold?
You can pay for your gold purchase using UPI. You can use any UPI app available with you to pay for it.
5Are there any charges applied while buying Gold?
While buying gold, you need to pay 3% GST on the amount invested in gold. For example, let’s say you decide to invest ₹1000 in Gold, the tax on it will be ₹30 (3% of ₹1000), so the total amount of gold purchased will be ₹1000 - ₹30 = ₹970.
6Is the price shown inclusive of taxes?
Yes, the price is inclusive of the 3% GST which is levied, which you can see at the time of purchase.
7Can I cancel a purchase after paying for it?
No, you can not cancel a purchase once it is paid for.
8How can I check my gold transactions?

You can check your gold transactions in the History section.

  • Go to ‘Profile’
  • Tap on ‘History’
  • Tap on the Product filter, and select ‘Gold’ to view all the transactions related to Gold. You can filter it based on Status and Type as well.
9How can I get an invoice for my Gold transactions?

You can get an invoice for your gold transaction from the transaction history page.

  • Go to ‘Profile’
  • Tap on ‘History’
  • Select the transaction for which you want to view the invoice
  • Click on ‘View invoice’ to open the generated invoice

Note: The invoice might take some time to generate. If you don’t see the ‘View invoice’ button, wait for some time and check it again.

10Payment has been deducted from my bank account, but I can’t see the Gold in my portfolio. Why?

We are really sorry that you are facing this. Usually, this occurs as a result of some errors at our Commercial Partner’s end. We will reach out to our Commercial Partner, and try to have the gold reflected in your portfolio within 24 hrs of purchase. In case it doesn’t, feel free to reach out to our customer support team at support.invest@bharatpe.com

Withdrawal

1When can I withdraw my savings in Gold?
You need to wait for 2 days from the date of purchase before you can sell any gold that you have purchased. This is done to prevent any frauds.
2What is the minimum and maximum amount/weight of gold I can sell?
When selling by amount, the minimum amount of gold you can sell is ₹10, and the maximum amount is the total amount of withdrawable gold owned by you at that point of time. When selling in grams, the minimum weight of gold you can sell is the weight corresponding to ₹10 at that point of time. It is calculated by dividing 10 by the live sell rate at that time. The maximum weight of gold you can sell is the total weight of withdrawable gold owned by you at that point of time.
3How can I sell my gold?

You can withdraw money invested in gold in a few easy steps.

  • Go to ‘Portfolio’, and tap on ‘Gold’
  • Tap on ‘Sell’ to land on Sell Gold page
  • Choose if you want to sell by amount or by grams, and then the enter the amount/weight you want to sell, then click on ‘Continue’
  • Confirm your registered bank account and tap on ‘Continue to sell’ to confirm the sale
4Where will my money be transferred to?
As part of the KYC, we ask you for your bank account details. When you choose to withdraw your investments, your money will be transferred to the chosen bank account, which will be shown to you before the withdrawal takes place.
5Are there any fees charged by Invest BharatPe while withdrawing money?
No, Invest BharatPe does not charge any fees from you while selling your gold.
6How much time does it take to get the money transferred to my bank after selling my Gold?
It takes 24 hours to get the money credited to your account once you have sold your gold. If the sale was completed on a Friday, Saturday, or Sunday, you will get the proceeds of your sales by Monday of the following week.
7What should I do if the money isn’t transferred even after 4 days?

We are really sorry that you are facing this. This usually happens in one of the below cases:

  • Incorrect or outdated bank account details
  • Issues on your bank server’s end: In this case, please get in touch with your bank and try again later if there is a problem on their end.
8Do I have to pay any taxes on the sale of Gold?

Yes, the income from the sale of digital gold is treated as an income from capital gains. The amount of tax depends on the time for which the gold is held.

  • If you sell the gold after holding for less than 24 months, it will come under Short Term Capital Gains (STCG). It will be taxed as per your applicable income tax slab rate.
  • If you sell the gold after holding for more than 24 months, it will come under Long Term Capital Gains (LTCG). It will be taxed at 12.5%, without indexation.

Delete account

To close/delete the 12% club account, follow the steps mentioned here.