Convert your Digital Gold to Physical Gold today on the Jar app with this step by step guide and all FAQs answered.
Gold has always been the go-to option for us Indians - be it for festivals, weddings, and even emergencies. Gold never betrays and always holds value. But if you have it in physical form, i.e., jewellery, gold coins or gold bars, there’s always a risk of it getting stolen or lost. We always live in this constant fear, isn’t it?
That’s why people are now opting for the safer option to acquire gold - Digital Gold. Every gram of gold in your account is backed by actual physical gold. It is 99.99% pure and saved on your behalf in third-party vaults. On top of that, your gold is even insured by the providers. This means that you are never in danger.
And you can always get it delivered to your doorstep - anytime and anywhere.
So how can you buy real physical gold from your digital gold investment?
What is Digital Gold?
Digital Gold is the new form of purchasing Gold through online channels. It is free of exchange rate manipulations and fluctuations, allowing you to trade all over the world without ever touching physical Gold.
Backed by physical Gold, it is a more convenient and cost-effective way for people to buy Gold.
For every gram of Gold purchased, there is actual 24k Gold stored in a locker in your name by one of India's three Gold banks - Augmont, MMTC - PAMP and SafeGold.
You can easily buy, sell or order physical Gold to be delivered at home with a click of a button on the Jar app. The best part? You can start from as low as ₹10.
Advantages of investing in Digital Gold
- Digital gold is easy to track and can be accessed at any time of the day.
- It offers high liquidity and can be bought and sold at any time of the day at market rates.
- With country-wide lockdowns and jewellery shops being closed, Digital Gold trader Augmont Gold Ltd. saw its businesses increase by 40-50% during the lockdown period. This just goes to show that many people have been moving towards digital gold.
- Gold is touted to be a hedge against inflation and can be used as collateral for loans.
- Gold rates have been increasing for the past 92 years. Apart from having cultural importance in India, gold also has intrinsic value and has been a great asset with even better returns YoY.
Why Should You Buy Digital Gold Instead of Physical Gold?
You should buy digital gold over physical gold for the following reasons:
- No minimum limit to buy digital gold - can start from as low as ₹10.
- Minimal making charges to be paid while buying digital gold.
- Zero holding costs – digital gold provider holds it for you in secure bank grade lockers free of cost.
- Digital gold eliminates the fear of authenticity as it represents certified 24k gold of 99.99% purity. The authenticity of physical gold is often questionable, depending on the genuineness of the selling jeweller.
- Digital gold can be easily sold online, 24/7 and at real time prices.
Buying physical gold from the Jar app is as easy as ordering food or buying a product online.
Here’s all you need to know about gold delivery through the Jar app:
1. How can I place a delivery order on Jar?
To place a delivery order on Jar, first enter the gold catalogue via any of the three methods:
- Gold Delivery card at the bottom of the home screen.
- Transactions -> Sell Gold -> Gold Delivery
- Hamburger -> Gold Delivery
Once the catalogue opens, select the gold coin of your choice, enter your delivery details and place the order. Easy!
2. What is the minimum amount of gold required to place a delivery order on the Jar app?
You need a minimum of 0.5 grams of gold to place a physical delivery order on the Jar app.
3. Is there any making and delivery charge for home delivery of gold on the Jar app?
Yes. Making and delivery charges will be applied based on the amount of gold you select for home delivery.
3. How much time does it take for gold to be delivered after placing the order on the Jar app?
Once an order for gold delivery is placed, it generally takes 7–10 days for the coin to be delivered to your doorstep. Our delivery partners always aim to deliver it within the promised time period.
What are you waiting for? Convert your digital gold to physical gold today and get it delivered to your doorstep. Download the Jar app now.