How to Buy Real Gold Online?

When you invest in gold, you can choose gold mutual funds, gold exchange-traded funds (ETFs), or physical gold (gold coins and bars). You can also choose digital gold and Sovereign Gold Bonds (SGBs). Digital Gold has been introduced recently where you can buy real gold online. You can use your mobile wallets like PhonePe, Paytm and also the Gold Rush Plan of Stock Holding Corporation of India to buy gold. Let us look into these in detail:

PhonePe:

  • The app allows you to buy gold from MMTC-PAMP and also SafeGold. It starts from Re.1 or 0.001 grams.
  • In order to sell gold, you should have a minimum gold worth of Rs.5.
  • You cannot buy and sell gold on the same day.
  • The rate of gold quoted on PhonePe comes with taxes and custom duties.
  • There is a differential that is quoted by SafeGold and MMTC-PAMP because of the difference in gold fineness.
  • The live rate of purchasing is valid for 5 minutes and for selling rate it is for 4 minutes.
  • You can accumulate up to Rs.2 lakh.
  • The gold coin/bar will be delivered in tamper proof packaging.

Paytm:

  • The minimum value to purchase gold begins from Re.1 and goes up to Rs.1.5 lakh. In terms of grams, you can purchase a minimum of 0.0005 grams and a maximum of 50 grams.
  • The selling of gold begins from 0.0005 grams (Re.1).
  • The live price of hold is valid for 7 minutes.
  • When you make a sale, you need to provide your bank account and also the IFSC code details.

GoldRush from Stock Holding Corporation:

  • Purchasing of gold begins from Rs.100 and then in multiples of Re.1.
  • There is no limit for you on the maximum amount you can invest in gold.
  • If your purchase is over Rs.50,000, you need to submit your PAN card copy.
  • In order to purchase gold from Stock Holding, you will need to open an account and also complete the KYC process.
  • There is no registration fee.
  • The form for account opening will be available on the Stocking Corporation website.
  • The settlement of the account will be done through physical delivery of gold.
  • The physical delivery of gold will begin from 1 gram.
  • The gold that is purchased will be kept in a secured vault.
  • Withdrawal begins from 1 gram of gold.

MMTC-PAMP and SafeGold both will offer gold of 24KT. When it comes to the fineness, MMTC-PAMP will offer gold of 99.9% purity and SafeGold offers you 99.5% purity. Fineness is the weight of metal in proportion to total weight (including alloy and other impurities).

If you purchase gold from the MMTC-PAMP platform, there is no storage charge. You can keep the gold for five years. After that, you should convert it into gold coins or you can sell it.

If you buy gold from SafeGold, you will have to pay storage charges. There is no charge for the first two years. If the amount of gold you have purchased is less than 2 grams by the end of two years, a fee of 0.05% every month will be charged.

Check - Today Gold Rate

FAQs on How to Buy Real Gold Online

  1. Where can I get 24K Gold online?

    MMTC-PAMP and SafeGold both will offer gold of 24KT.

  2. On Paytm how much gold can I buy?

    The minimum value to purchase gold begins from Re.1 and goes up to Rs.1.5 lakh. In terms of grams, you can purchase a minimum of 0.0005 grams and a maximum of 50 grams.

  3. Do I have to pay taxes on gold bought via PhonePe?

    The rate of gold quoted on PhonePe comes with taxes and custom duties.

  4. Will the gold be delivered safely?

    The gold coin/bar will be delivered in tamper proof packaging.

  5. Is there any eligibility criteria to purchase gold on Stock Holdings?

    In order to purchase gold from Stock Holding, you will need to open an account and also complete the KYC process.

Also Check Gold Price in Metro Cities

Gold Rate In Metro Cities
Gold Rate In Other Capitals
Gold Rate In Other Major Cities
Gold Rate In States
Bank Gold Schemes

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