Buying the Gold FAQ

Tanishq Digital Gold powered by SafeGold is a safe and transparent platform for buying/selling/exchanging “SafeGold” offered by Digital Gold India Private Limited (“DGIPL”) in compliance with all applicable laws and regulations. Tanishq Digital Gold is neither financial product nor a deposit but a method of purchasing gold for your personal needs. Each time you purchase SafeGold from the Platform, Gold will be purchased on your behalf on the basis of clear funds being made available by you for the transaction. Gold in grams up to 4 decimal places shall be credited to your account.

SafeGold is a product of DGIPL- an institutionally owned company, where the World Gold Council is a minority investor (through World Gold Council (India) Private Limited).

All Indian citizens with a valid PAN Card can buy Tanishq Digital Gold. Please note NRIs can neither purchase, sell or redeem Tanishq Digital Gold.

Tanishq Digital Gold offers SafeGold which is 24 Karat Gold of 995 fineness (99.5% pure) or higher purity which are LBMA “good delivery” bars sourced by DGIPL from trusted sources.

The minimum amount of purchase is Rs. 100. There is no maximum amount, subject to the completion of KYC verification for your account.

There is no minimum lock in period- you can make a one-time purchase of SafeGold, without being obligated to make any fixed or periodic payments. You can choose to sell any amount of gold at the live sell price starting with minimum of Re. 100/- to maximum of the amount of gold that you own.

You can register through Tanishq’s online platform (http://www.tanishq.co.in/digigold/home). You will be required to provide your name, mobile number, email address, pin code and PAN to get started. At stores, you can only redeem the SafeGold Balance that is available in your account, but buy and sell is possible only through the Tanishq Digital Gold powered by SafeGold platform.

No, this is an entirely digital product, and hence Post-Dated Cheques (PDCs) are not available as a payment method for this product.

No, you cannot cancel the purchase order of gold once it has been successfully placed on the platform.

If your email address has been provided, an invoice shall be emailed to you as an attachment after each successful transaction. It is also available on the platform, by clicking on the invoice button.

An online statement will be available at all times on the platform.

No, you cannot open a joint account for Tanishq Digital Gold powered SafeGold.

The gold purchased on your behalf is stored with Brink's, the leading safe keeper of precious metals across the world. The gold is insured, for both storage and transit when being delivered to you. Further, the Security Trustee has a charge on all gold stored in the vault in your favour. This ensures that your gold is protected at all times regardless of any external events.

To provide you SafeGold through the Tanishq Digital Gold Platform, DGIPL has entered into a relationship with IDBI Trusteeship Services Limited to act as a Security Trustee for all digital gold customers. The Security Trustee is entitled to act on your behalf and ensure that your interests are protected. The Security Trustee will have a charge on the gold associated with accumulations held by you.

The gold associated with the accumulations in your account is separate from the other assets of the SafeGold. IDBI Trusteeship Services Limited, an independent trustee, acts for and on your behalf. The gold purchased by DGIPL associated with the accumulations in your accounts is held with the Custodian. When you ask for delivery, the requisite quantity of gold will be removed from the Custodian and delivered to you through a reputed courier service. Since the Security Trustee has a charge over the gold, any unlikely adverse event happening to DGIPL will not affect the gold associated with the accumulations in your account. Further, the title of the gold clearly rests with you and the physical gold stored with the Custodian on account of SafeGold customers is not an asset of SafeGold in any way.

The secure storage provider (Brink's) has a comprehensive, global insurance policy that includes the insurance cover on your gold stored in their vaults. In addition, DGIPL has an additional insurance policy to cover gold in transit.

You can store your gold with DGIPL for a period of 10 years from the date of purchase. The custody shall be without charge for the first 5 years, and thereafter, will continue to be stored by DGIPL for a nominal fee to cover storage costs. You will be intimated in advance of being charged the fee, and will have the option to sell or request delivery of your gold at all times.

We will always endeavour to provide you with immediate access to your gold. If, however, your account has been suspended for any reason, we would request you to get in touch with DGIPL’s customer service centre, in order to reactivate your account and access your gold once again. Customers may get in touch with Tanishq’s customer service centre as a secondary recourse.

The Gold Rate in SafeGold is the price of Raw Gold that is being traded in the commodity markets which is influenced by various macroeconomic factors including global commodity pricing and Rupee valuation against USD. This Gold rate is not the selling gold rate of a finished product. There are operational costs involved even after raw gold is purchased from the market to convert the gold for amenability to make jewellery and these processing costs are why the Gold Rate of all jewelers (not just Tanishq) differs from the commodity rates.
In addition, the SafeGold rate varies based on the time of the day, as there are intra-day price movements in the commodity market as well.