FAQs - Digital Gold and Digital Silver

A joint venture between Switzerland based bullion brand, PAMP SA, and MMTC Ltd, a Government of India Undertaking, MMTC-PAMP seamlessly marries Swiss excellence with Indian insights. MMTC-PAMP India Pvt. Ltd. is internationally recognized as an industry leader for bringing global standards of excellence to the Indian precious metals industry.

Digital gold & Digital silver- a digital alternative to buying physical gold/silver coins, jewelry or bullion. It can be bought online and is stored in secured custodian vaults by the trustee-backed seller on behalf of the customer.

Yes, if the customer chooses not to sell the gold online, they can convert the digital gold to physical gold of 24K (999.9 purity), and get doorstep delivery from a choice of different SKUs of different denominations (nominal delivery and making charges will apply).

Yes, if the investor chooses not to sell the silver online, they can convert the digital silver to physical silver of 24K (999.9 purity), and get doorstep delivery from a choice of different SKUs of different denominations (nominal delivery and making charges will apply).

You will find a live buy-sell quote for gold and silver, on our platform, which will be derived from the international wholesale bullion market plus a spread 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. This live price is refreshed every 30 seconds.

Just like any commodity there is a small difference between buying and selling price also known as buy/sell spread. To cover operational costs, MMTC-PAMP, makes a nominal spread when the customer opts to sell back the gold to cover the cost of insurance, storage, vaulting, refinery operations, security, staff, trusteeship, auditor and custodian fee etc.

At his moment, only Indian Residents are eligible to buy Digital Gold or Silver.

You can buy and sell both gold or silver anytime you want. However, on your recent purchases, you can only sell after 72 Hours have elapsed. This is to safeguard your interest and minimize fraud risks.

MMTC-PAMP 24K 999.9 Digital gold is one of the easiest and most convenient and flexible way to buy gold without worrying about the purity, pricing, transparency, storage and non-uniformity, all at the click of a button with MMTC-PAMP. You can now buy Digital silver also.

In comparison to physical gold or silver, digital gold/ silver overcomes the hassles of storage, risk of theft or ingenuity. Here are other reasons why you should choose this modern way of buying precious metals:

• 100% Pure: Digital Gold is genuine, and the purity is 24K 999.9 with the digital gold offered by AWKASH via MMTC PAMP. Same goes for Digital Silver, which is of 999.9 purity.
• Eliminating Security & Safety Concerns: The best part about Digital Gold & Silver is that you own it and only you know it. You no longer have to worry about getting a bank locker or buying safe at home to protect your wealth. Your Gold / Silver is vaulted in India's most secure and 100% insured facility for free.
• Low investment: You can buy it in denominations of as low as ₹1.
• Buying/Selling as per your convenience: Time is money and we value it! Thinking about this we have integrated Digital Gold because you can buy it whenever you feel like investing. Do you wish to liquidate or sell your digital gold or digital silver? Well, selling is also a simple seamless process.
• Flexible sale options: You can exchange digital gold for gold coins and bullion, gift it to a friend or sell it for cash all through one platform. With Digital Silver, you can choose from a wide range of collectible coins, bars and coins, to convert into.
• Secured doorstep delivery: When you choose to convert your digital gold into physical, expect gold delivery at your doorstep through verified courier partners who process this premium tamper proof delivery.

You can invest in digital gold on the platform in just a few clicks. Go to our mobile app, complete the KYC process, if you haven't done that already, make an offer to buy Gold at the rate displayed on the platform in either rupees or grams and make the payment through your preferred mode of payment.

Once you invest in digital gold, MMTC-PAMP will purchase an equivalent amount of physical gold and store it under your name in secured vaults. Thereafter, you can sell the gold back to the provider or redeem it in the form of physical gold delivered to your doorstep. You can even gift your digital gold to your friends or family.

To start investing in digital gold, all you need to provide is your name, full address with pin-code, email ID and mobile number, which will be verified through OTP and your PAN card details.

The convenience of digital gold purchase extends to its payment modes as well. You have multiple payment options to choose from, including:

• Debit Cards
• Bank transfer
• UPI payment

There is no minimum lock in period for your digital gold purchase. You can make a one-time purchase of digital gold without being obligated to make any fixed or periodic payments. You can choose to sell any amount of gold at the live sell price anytime you want, with a cool-down period of 3 days on your recent purchase.

Stay worry-free as your digital gold is completely insured while it is inside the vaults, also, for all redemption orders also we have in-transit for delivery at your doorstep.

Your precious metal's physical custody can remain with the seller for an unlimited period, however it might entail additional cost. The free custody period is limited to 5 years and after that, the investor might be levied a nominal fee to cover storage charges for their hold securely placed with the custodian.

You can sell a quantity equal to/lower than your account holdings and have the equivalent proceeds credited to your bank account using bank details or UPI.

You can redeem a quantity equal to/lower than your account holdings from the available options of coins and bars through the catalogue on our platform. Each product shall have a different fulfilment charge attached to it depending on the denomination and product type. After paying fulfilment charges, the gold/silver product, will be delivered to you through a secure logistics partner.

Imagine waking up to a notification saying "You have been gifted Gold", wouldn't that be a nice surprise for you or to give someone? Digital Gold has made an easier option for gifting, so for digital silver. You have to simply enter the details of the recipient and the amount of Gold or silver that is to be gifted. The recipient needs to have an account with AWKASH to receive the gift, but don't worry, even If they don't, they can easily create an account to claim their gold gift.

That's the best part about our platform. You can buy for as low as ₹1, an amount no other gold investment avenue offers. If you're KYC compliant, there is no maximum amount of gold that can be bought.

Our dispatch team takes utmost care to ensure that the product shipment is dispatched is utmost mint condition, and the logistics partner are also vigil about the handling. However, in any rate event, the recipient might not find the product in the right desired condition. For such cases, you can reach out to us and we'll assist you to get the necessary action taken.

Gold is considered to be a non-equity investment, irrespective of how you choose to buy it – digital mode or physical. Hence, short-term capital gains (STCG) and long-term capital gains (LTCG) tax will apply on the sale of gold. As per existing rules, any gold held for less than 3 years prior to being sold will incur STCG at the applicable IT slab rate. If gold has been held for over 3 years from the date of purchase prior to being sold, LTCG at 20% of total gains with indexation benefits is applicable. These rates can change anytime, so please check the latest STCG and LTCG tax rates / guidelines issued by the Govt. of India.

No, the vault is fully insured through a comprehensive insurance policy, so you will not lose any money. There are also regular independent audits on the vault balances done by independent auditors, in supervision of an independent Trustee.

In case of an unfortunate event, the gold stored in the vault can be liquidated and the proceeds shall be transferred to your legal heir as per the legal succession process or submitting the relevant documentation and KYC of the legal heir.

Digital Gold and Silver are product designed as personal investment products. One may buy digital gold or silver in any capacity, even as a non-individual capacity, but there shall be no GST input credit available for such transactions.

We're here to help. Please reach out to [email protected] and we'll respond with a resolution to your concern.