FAQ / Others

Related to SELLING OF GOLD & SILVER :

Q1. WHAT ARE THE BENEFITS OF SELLING TO DGOLD.IN?

A1.WE GIVE YOU THE HIGHEST COMMODITY PRICE, PROFESSIONAL COMPUTERIZED VALUATION & SPOT PAYMENTS.

Q2. HOW IS VALUATION DONE AND HOW LONG DOES IT TAKE?

A2. VALUATION IS NO MORE COMPLEX PROCEDURE, WE ADHERE TO THE LATEST COMPUTERIZED TESTING (XRF TESTING) & ACID TEST IN CASE OF SILVER ARTICLES, A BASIC TEST CAN TAKE UPTO A MINUTE PER ARTICLE.

Q3. DO YOU CHARGE FOR TESTING AND VALUATION?

A3. ESTIMATION VALUATION IS PROVIDED FREE OF COST, BUT HOWEVER IF YOU ONLY REQUIRE A VALUATION AND DON'T WANT TO SELL THE JEWELS THEN VALUATION CHARGE IS RS 100/TEST & RS 200/TEST WITH A REPORT

Q4. HOW DO YOU DETERMINE THE VALUE OF A COMMODITY?

A4. IT IS VERY SIMPLE : WEIGHT OF COMMODITY (X) PURITY PERCENTAGE (X) BUYING RATE = VALUE (-) TAX N SERVICE CHARGES = NET VALUE

Q5. WHAT ELSE WILL BE DEDUCTED?

A5. STONES , BEADS, ENAMEL & MELT CHARGES WEIGHT IF PRESENT WILL BE DEDUCTED FOR VALUATION.

Q6. WILL MY ORNAMENTS GET DAMAGED DUE TO TESTING?

A6. NO, YOUR ORNAMENTS WILL NOT GET DAMAGED IF A COMPUTER XREF TEST IS PERFORMED. HOWEVER IF WE FEEL THAT A MELT TEST IS REQUIRED THEN ON YOUR APPROVAL WE WILL BREAKDOWN THE ORNAMENT INTO PARTS AND MELT IT FOR TESTING.

Q7. HOW WILL I BE PAID ?

A7. ALL PAYMENTS WILL BE BASED ON OUR COMPANY GUIDELINES EITHER BY CASH / NEFT / RTGS / DD / CHEQUE.

Q8. WHAT ARE THE DOCUMENTS REQUIRED FOR SELLING GOLD ORNAMENTS?

A8. YOU MUST PRODUCE 1 PHOTO ID & 1 ADDRESS PROOF OUT OF THE FOLLOWING DOCUMENTS I.E. DRIVING LICENSE, PASSPORT, RATION CARD, ELECTION ID, WORK ID, TELEPHONE BILL, MOBILE BILL, PROPERTY SALE DEED.

Q9. I AM NOT A RESIDENT OF BANGALORE CAN I SELL ORNAMENTS & WHAT ARE THE DOCUMENTS REQUIRED ?

A9. YES, YOU CAN SELL YOUR ORNAMENTS BY PROVIDING 1 PHOTO ID & 1 (LOCAL) ADDRESS & 1 (NATIVE) ADDRESS PROOF.

Q10. ONCE SOLD CAN I BUY BACK MY ORNAMENTS LATER?

A10. NO, WE WILL NOT BE ABLE TO RE-SELL IT. AS WE WILL BE MELTING IT FOR PURIFICATION IMMEDIATELY. (PLEASE DECIDE BEFORE YOU SELL)

Q11. SOME GOLD BUYERS CHARGE Zero SERVICE CHARGES OR A LOW SERVICE CHARGES COMPARED TO DGOLD WHY?

A11. MOST GOLD BUYERS IN BANGALORE ATTRACT CUSTOMERS WITH VERY ATTRACTIVE OFFERS, BUT WHAT YOU NEED TO KNOW IS THAT NO BUSINESS CAN RUN WITHOUT A PROFIT, THESE BUYERS WILL LOWER THE VALUE OF THE GOLD PURITIES TO ADJUST THEIR CHARGES WHICH WE FEEL IS A CORRUPT PRACTICE. AT DGOLD WE FOLLOW ETHICAL PROCEDURES AND SERVICE CHARGES ARE LEVIED SEPARATELY. 

Q12. CAN I SELL GOLD / SILVER BELONGING oF MY RELATIVE, NEIGHBOR, FRIEND ?

A12. NO YOU CAN’T, YOU CAN SELL GOLD / SILVER / DIAMONDS WHICH BELONGS TO YOU, YOUR SPOUSE OR YOUR PARENTS WITH THEIR CONSENT.

Q12. I AM 18 TO 21 YEARS OLD CAN I SELL MY JEWELRY?

A12. IF YOU ARE AGED BETWEEN 18 TO 21 YEARS YOU HAVE TO BE ACCOMPANIED WITH YOUR PARENTS OR LEGAL GUARDIAN IN ORDER TO TRANSACT. WE HAVE A STRICT NO MINORS POLICY AND WE DO NOT PURCHASE FROM PERSONS AGED BELOW 18 YEARS.

Q13. UPTO WHAT QUANTITIES CAN I SELL MY BROKEN OR TAMPERED JEWELRY?

A13. NO QUANTITY IS TOO SMALL OR BIG FOR US, YOU CAN SELL OR BUY ANY QUANTITY. EVEN IF YOU HAVE A GRAM TO SELL OR BUY YOU ARE WELCOME. YES WE PURCHASE BROKEN & TAMPERED GOLD JEWELRY.

Q14. DO YOU PURCHASE WHITE GOLD?

A14. YES, WE PURCHASE WHITE GOLD, ROSE GOLD, PINK GOLD, YELLOW GOLD, AS FAR AS IT IS GOLD.

Q15. CAN I GET THE PAYMENT BY NEFT OR RTGS ?

A15. YES you CAN, BELOW 2 LAKHS THROUGH NEFT AND ABOVE 2 LAKHS THROUGH RTGS. (NAME AS PER BANK RECORDS, ACCOUNT NO. & TYPE, IFSC CODE , BANK NAME & BRANCH DETAILS ARE REQUIRED): NOTE YOUR CHEQUE BOOK WILL CONTAIN ALL THIS INFORMATION.

Related to BUYING :

Q1. WHAT ARE THE BENEFITS BUYING THROUGH DGOLD.IN?

A1. THE "LOWEST PRICE" FOR 24KT 999 SUISSE GOLD, NO WASTAGE, MAKING CHARGES OR ANY ADDED PREMIUM.

Q2. Do you Buy back / Exchange Jewellery brought from your store?

A2. DEFINITELY YES WE PROVIDE YOU A BUY BACK BASED ON THE DAYS MARKET PRICE. 

Q3. What are your Making charges / Wastage?

A3. ZERO MAKING CHARGES & WASTAGE.

Q4. Do i need to submit my ID proof and Address proof for Purchasing?

A4.YES, AS PER THE LATEST MANDATE BY THE CENTRAL GOVERNMENT ALL CASH PURCHASES MADE ABOVE (2 LAKHS FOR BULLION) AND (5 LAKHS FOR JEWELRY) MUST SUBMIT PAN. TCS WILL APPLY, THIS CAN BE AVOIDED BY MAKING THE PAYMENT THROUGH CHEQUE, NEFT, RTGS, IMPS.

Q5. How can i determine the prices of Gold and Silver?

 A5. JUST SMS GOLD TO 9880077297 TO GET THE LATEST SPOT PRICES OF BOTH COMMODITIES.

Q6. What is the TAX component on purchases?

A6. CURRENTLY THE KVAT TAX ON GOLD JEWELRY & BULLION IS 1% (MAY CHANGE AS PER GOVERNMENT NOTIFICATION)

Related to GOLD INVESTMENT :

Q1. Eligibility for investing & how does this investment work?

A1. IT IS FOR PERSON/S WHO INTEND TO INVEST IN PHYSICAL GOLD BULLION IN SMALL QUANTITIES AS AN INVESTMENT OR WHO INTENT TO UTILIZE IT FOR OWN USE, YOU WILL BASICALLY BUY GOLD AT YOUR TIME AND WILL AND ACCUMULATE GOLD PERIODICALLY. WE DO NOT OFFER ANY SCHEMES OR BENEFITS AS IT IS BARRED BY THE RBI, YOU CAN JUST TRANSFER FUND TO OUR BANK A/C AND AN EQUIVALENT AMOUNT IN TERMS OF GOLD 24KT 999 PURITY GETS ACCUMULATED IN YOUR ACCOUNT. 

Q2. What are the benefits of such an investment?

 A2. WHEN YOU PURCHASE FROM DGOLD YOU GET GOLD AT THE LOWEST PRICE, NO ADDED CHARGES LIKE WASTAGE, MAKING CHARGES, DYE CHARGES ETC.. OUR RATES WILL BE MUCH LOWER THAN BANKS, RETAILERS & E-TAILERS. YOU ADDITIONALLY GET BUY BACK FACILITY ALSO.

Q3. How is this different from ETF?

A3. Very much different, ETF is only paper money and actual physical gold is not involved whereas here gold gets accumulated physically in your account.

Q4. When can I collect the accumulated gold?

A4. YOU CAN COLLECT YOUR GOLD WHENEVER YOU WANT, WE WILL ONLY BE THE CUSTODIANS OF YOUR GOLD, AS YOU ACCUMULATE A FAIR QUANTITY YOU CAN INFORM US AND COLLECT THE GOLD. 

Q5. How do i enroll for this investment?

A5. JUST VISIT OUR OFFICE ALONG WITH YOUR PHOTO ID AND ADDRESS PROOF AND REGISTER YOURSELF (FOR THE FIRST TIME), LATER YOU CAN TRANSACT BY JUST TRANSFERRING THE AMOUNT TO OUR BANK ACCOUNTS.

Q6. What is the minimum & maximum quantity i can invest at one time?

A6. MINIMUM INVESTMENT IS 1 GRAM AND THERE IS NO MAXIMUM LIMIT.

Q7. What is the type of Gold will i get if i choose to collect my gold?

A7. You will get Suisse Gold 24KT of 999 purity.

Q8. How do i check DGold selling price of Gold?

A8. Once you register with us you will be given a customer ID and your registered mobile number can be used to ask for gold rates through SMS.

Q9. What if i have to withdraw from the scheme?

A9. As conveyed earlier this is not a scheme, we are only accumulating & holding gold on your behalf, Once you release the Gold from us the transaction gets completed.

Q10. Can i get Cash instead of Gold i have accumulated?

A10. Yes you can opt for Cash at the current market buying price.

Q10. Is there any TAX involved?

A10. YES you will have to pay KVAT 1% on the total value.

Related to Release of Gold from Banks: 

Q1. CAN YOU RELEASE GOLD WHICH HAS ALREADY BEEN PLEDGED IN A BANK OR FINANCE COMPANY? 

A1. YES, WE HAVE THIS SERVICE WHERE WE RELEASE YOUR GOLD PLEDGED IN BANKS, MUTHOOT, MANNAPURAM, IIFL, KOSMATTAM FINANCE, POPULAR FINANCE, PAWN BROKERS ETC.

Q2. How Does this work, how do I proceed? 

A2. FIRST GET THE DETAILS FROM YOUR BANKER OR FINANCER REGARDING THE RELEASE AMOUNT (PRINCIPLE + INTEREST) AND THEN VISIT US WITH YOUR PLEDGE RECEIPTS, ID, ADDRESS PROOF, AND CHEQUE BOOK. OUR EVALUATION TEAM WILL VERIFY THE DETAILS AND SUGGEST YOU IF IT IS WORTH RELEASING THE GOLD. IF WE FEEL THERE IS ANY BENEFIT FROM RELEASING THEN WE WILL ARRANGE FOR A RELEASE OF GOLD IMMEDIATELY YES, WE HAVE THIS SERVICE WHERE WE RELEASE YOUR GOLD PLEDGED IN BANKS, MUTHOOT, MANNAPURAM, IIFL, KOSMATTAM FINANCE, POPULAR FINANCE, PAWN BROKERS ETC.

Q3. How long will this take and will i be paid instantly?

A3. Once we release the gold, it will be brought back to our office and final settlements will be made after evaluation.

Q4. What is the minimum quantity for release of gold ?

A4. The minimum quantity is 45 grams for release gold.

Q5. Can i keep some part of my Gold which has been released?

A5. YES you can, however you will need to inform us prior to the transaction.

Q6. What if i am not satisfied with the valuation after release of Gold?

A6. Before releasing the Gold we would ensure to give you an estimation based on the details provided by you, However, if you are not satisfied with the valuation after release you will have to repay the amount advanced by us + an additional 5% of the released value.

Q6. What if the value of the gold turns out to be lower than the released value?

A6. BEFORE RELEASING THE GOLD WE WOULD ENSURE TO GIVE YOU AN ESTIMATION BASED ON THE DETAILS PROVIDED BY YOU, HOWEVER, IF YOU ARE NOT SATISFIED WITH THE VALUATION AFTER RELEASE YOU WILL HAVE TO REPAY THE AMOUNT ADVANCED BY US + AN ADDITIONAL 5% OF THE RELEASED VALUE.

Q7. Can you release my Gold loan from multiple locations ?

A7. YES we can release Gold from multiple locations which are within Bangalore BBMP limits.

Q8. Are there any additional service charges for this service?

A8. NO this service is FREE, If you wish not to sell the Gold after release only then 5% of the value of the release amount will be charged as service charges.

Q9. Will i be accompanied by your representative to the Bank or Finance company?

A9. YES you will be authorising our representative to release the gold on your behalf, our representative will deposit the cash to the financier and collect the gold in your presence. Once the Gold is released you will be accompanied to our office by our representative for final valuation & settlements.

Related to Other issues:

Q1. Why do you collect my ID & Address proof?

A1. As per our company policy it is mandatory to perform KYC as transactions involve huge values, As most customers would not have preserved their Bill/Invoice copies it becomes difficult for us to know if the ornaments or bullion is a legitimate possession or otherwise.

Q2. What are the grounds for rejection of my transaction?

A2. Incorrect KYC submitted, Under age, Improper explanation related to ownership, selling on behalf of others are a few grounds your transaction can be rejected.

Q3. Will my data be shared with any one?

A3. Your data is stored confidentially, No person will get access to your information and wont be misused that's a promise, however if a request is made by Government agencies we shall comply with them.