Digital Gold-Learn About Digital Gold Online| DBS Bank

Digital Gold -Powered by SafeGold*

*SafeGold is a product of Digital Gold India Private Limited. DBS Bank is only the payment facilitator for the product

Buy Gold YOUR Way from SafeGold And Pay via DBS Bank!

You can buy gold for as low INR 1, and sell it at the minimum quantity possible.

Buy Gold in Just a Click

Buy Gold YOUR Way

One Click Hassle-Free Purchase

Buying gold has never been easier! Purchase digital gold from SafeGold with just a click right from your phone via your DBS Bank account. The money gets debited from your account – no OTP or paperwork. Transact anytime, anywhere, even on bank holidays!

Buy Gold in Just a Click

One Click Hassle-Free Purchase

*SafeGold is a product of Digital Gold India Private Limited. DBS Bank is only the payment facilitator for the product

Ready to Get Golden?

Buy Gold in Just a Click

*SafeGold is a product of Digital Gold India Private Limited. DBS Bank is only the payment facilitator for the product

Ready to Get Golden!

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What happens when payment is deducted through one’s DBS Bank account, but the gold is not credited in one’s SafeGold balance?

What are the roles and responsibilities of DBS with respect to Digital Gold?

digiStore, on the digibank app, is a platform to enable customers of DBS Bank India Limited (“DBS”) to avail the goods/services offered by CDNA Technologies Pvt Ltd (“Nuclei”) and conveniently make payments from their DBS Account.

DBS customers can make payments from their DBS’ bank account for purchase of gold on Nuclei’s platform, using Digital Gold service.

The gold product is being offered by Nuclei in partnership with Digital Gold India Private Limited (“SafeGold”).

DBS is neither selling nor rendering the products/services displayed by Nuclei. DBS is only acting as a facilitator by enabling DBS’ customers to make payments.

Who will manage consumer complaints?

care@safegold.in

What is the eligibility criteria for SafeGold?

Any resident Indian with a valid PAN Card/Form 60 and Bank Account (in their own name) can enroll for SafeGold. The customer must also have at least one of these accounts with DBS in an active state:

digiSavings

Upgraded DBS Bank accounts

Savings Treasures/digi Treasures

Savings Plus

Savings Power Plus

Savings Treasures

Savings Treasures Priority

Savings Special- Staff

Savings Treasures Staff Accounts

Aspire / Corporate Salary Accounts

Are NR customers eligible to invest in Digital Gold through the DBS Bank app?

NR customers are eligible to invest in Digital Gold through the digibank app using NRO account only. DBS Non-Resident customers can make payments only from their DBS’ Non-Resident Ordinary bank account for purchase of Digital Gold on Nuclei’s platform.

Do you charge for storage of my gold?

SafeGold offers free storage for up to 5 years, after which SafeGold reserves the right to charge a yearly nominal fee for the storage of your gold, which would be in the range of around 0.03 - 0.04% (per annum) of your gold balance.

Is it mandatory to upload my PAN card?

What is the Purity of Gold offered under SafeGold?

What is the minimum & maximum amount needed to buy gold on SafeGold?

The minimum amount will change depending on the gold rate and you can purchase a minimum of .0002 gm of gold. There is no limit on the maximum amount you can spend, as long as the KYC requirements are complied with.Currently you can store up to 30 gm of gold in your locker. You cannot buy any more gold once the locker capacity reaches 30 gm.

How can I get my holding statement?

You can access your holding statement by logging into SafeGold's website (www.safegold.com) using the same mobile number which was used for the purchase of gold. SafeGold will also send quarterly statements to your registered email address.

At what price is the gold sold/ bought from customers?

SafeGold will publish a live buy-sell quote for customers 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.

Why is the Buy Price different from the Sell Price?

SafeGold buys international grade bullion from institutional suppliers and sells this to consumers. When customers sell gold back to us, SafeGold sells it back to institutional participants in the wholesale bullion market, where the buy-back rate is lower than the selling rate – this is referred to as the buy-sell spread.In addition to the buy-sell spread in the commercial bullion market, GST is added to the buy price, but it is not levied on any sell transactions. Further, there are charges incurred on the payment gateway, trustee, insurance and custodian fees which also contribute to the difference in buy and sell price.

Is the gold associated with my accumulations kept in safe custody?

Yes, the gold associated with the accumulations credited in your account is kept in safe custody with a Custodian in accordance with the terms of the offer mentioned in the product brochure. Only reputed firms such as Sequel Logistics and Brinks will be used as a custodian.

Who will insure the physical vault?

SafeGold has partnered with the global market leader in secure logistics and vault services- Brink’s, to store your gold. As part of their process, the secure storage provider takes out a comprehensive insurance policy, which includes the cover on your gold. Over and above that, SafeGold has insurance cover for the period where gold is in transit or when the gold leaves the vault. SafeGold reviews their risk & insurance policies regularly, to ensure that they are covered for additional or specific risks.

Is there any regulator or Grievance redressal mechanism?

SafeGold is neither a Collective Investment Scheme nor a Deposit. Therefore, it does not fall under the purview of SEBI or RBI. However, to ensure that your customer interest is always prioritized, a Security Trustee has been appointed for SafeGold. For any grievances the customer can approach the Security Trustee.

What is the role of the “Security Trustee”?

The Security Trustee is there to protect your interests, by acting on your behalf when it comes to matters concerning your gold. This includes periodic checks of the vault to ensure that there is always more than adequate inventory of gold and providing confirmations each time the gold leaves the vault, including for deliveries.

What will happen to the gold associated with accumulations in my account, in the unlikely event of the Company going into liquidation?

The gold associated with accumulations in your account is separate from the other assets of the Company. An independent trustee appointed by the Company will act for and on behalf of the customers. The gold purchased by the Company associated with the accumulation in customer accounts is transferred to the Custodian appointed by the Company for the product. When the customer asks for delivery, the requisite quantity of gold will be removed from the Custodian and delivered to the customer through a reputed courier service. Since the Security Trustee has a charge over the gold over other commercial creditors till the time of fulfillment and the gold is separate from the other assets of the Company, any unlikely adverse event happening to the Company should not affect the gold associated with the accumulation in your account. Further, the title of the gold clearly rests with the customer and the physical gold stored with the Custodian on account of SafeGold customers is not an asset of the Company in any way.

Which are the agencies which certify Gold in India?

The Government of India has identified the Bureau of Indian Standard as the sole agency in India to operate the BIS Hallmarking Scheme. The BIS Hallmarking Scheme has been aligned with International criteria on hallmarking (Vienna Convention 1972). A Hallmark, consists of five components i.e. BIS Mark, the Fineness number (corresponding to given carratage), Assaying and Hallmarking Centre's Mark, Jeweller's identification Mark and year of Marking denoted by a code letter and decided by BIS (e.g. code letter `A' was approved by BIS for year 2000, `B' being used for the year 2001 and `C' for 2002 and 'J' for 2008). The marking is done either using punches or laser marking machine. Some manufacturers also issue Assay Certification which can be obtained through Assay Offices. Assay offices are institutions set up to assay (test the purity of) precious metals, in order to protect consumers. All coins and jewelry offered by SafeGold are BIS hallmarked.

What is the benchmark for the Price of SafeGold? Can MCX be taken as a benchmark?

There is no benchmark for comparing the price of SafeGold. MCX cannot be considered as a benchmark, since there are many differences between SafeGold and MCX. MCX gives the prices of a futures contract which doesn’t give the landed prices by factoring in cost of logistics, insurance, safekeeping, etc. MCX also does not include pan India delivery, and based on the contract it gives delivery at only a few locations like Mumbai, Ahmedabad, Delhi, etc. SafeGold gives delivery across the country, and includes the cost of storage, insurance, trustee fees and gives you the landed, complete price of Gold. Also, the gold price quoted in newspapers and on various websites is the wholesale price in multiples of 1kg of gold. SafeGold price is valid for fractional grams and therefore is not directly comparable.

Who is Digital Gold India Private Limited?

Digital Gold India Private Limited (Company) 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. SafeGold is the retail brand of the Company.

Will the customer need to show any identity proof at the time of taking the physical gold coins?

Can someone else redeem the physical gold coins on my behalf?

Only in case of death of the applicant, the legal heir will be able to collect the gold coins by showing the proof of identity along with the original / notarized copy of the death certificate and proof that the person is the legal heir of the applicant.

What if the customer dies during the tenure of the plan?

The legal heir of the customer can claim the customer’s account by following the process detailed above. Thereafter, they can access the customer’s account, including selling the gold balance or requesting for delivery of the gold.