FAQ's

Goldsikka is an organised and transparent method of buying 24 carat gold in compliance with all applicable laws and regulations. Goldsikka is neither a financial product nor a deposit and also not a Profiteering or a Collective Investment Scheme (CIS), but a method of purchasing gold for the personal needs of the customer. The customer has complete freedom to seek physical delivery of gold or bars anytime and on as many occasions as he wants. Since it is not physically possible to deliver a fractional quantity of gold, minimum quantity for which the delivery is proposed to be made has been kept as low as 1 gram and in multiples of 1 gram. The gold on behalf of the customer would be purchased including GST as and when his/her clear funds are available.

An invoice is emailed to the customer after each transaction. It is also available in the order history section on the Company's website as well as the distributor platform.

The Company will provide a sell price quote on its website as well as distributor platforms. Customers can choose to sell any amount starting with a minimum of 1 Gram to a maximum of the amount of gold that they own. Proceeds will be sent to the customer's bank account after deducting any applicable transaction charges (which will be disclosed in advance).

Any Indian resident can enroll for Goldsikka.

An online statement will be available at all times. The holding statement will be sent to the customers through email if requested.

No, goldsikka does not allow customers to open a joint account.

Yes, Nomination is mandatory for all goldsikka plans.

Customer can request for their gold at anytime. They will have to collect gold from our network of authorized distributors. Customer has to produce a valid ID proof at the time of collection.

Yes, customer has to pay the minting/ making charges and applicable taxes.

The Company 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.

If required, the Company may take out an additional insurance policy as well to cover specific risks.

Distributors will provide the first level of customer support. The Company will be available to satisfy any issues/ questions that may be escalated.

Goldsikka is neither a Collective Investment Scheme nor a Deposit.

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 offer mentioned in the product brochure. Only reputed firms such as Sequel Logistics and Brinks will be used as a custodian.

The gold associated with the accumulations in your account is separate from the other assets of the Company.

Government of India has identified 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.

There is no benchmark for comparing the price of Goldsikka. MCX cannot be considered as a benchmark, since there are many differences between Goldsikka 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 doesn’t give PAN India Delivery and based on the contract it gives delivery at only a few locations like Mumbai, Ahmedabad, Delhi, etc. Goldsikka gives delivery PAN India, includes the cost of storage, insurance, trustee fees and gives the landed price of Gold. Also the gold price quoted in newspapers and on various websites is the wholesale price in multiples of 1kg of gold. Goldsikka price is valid for fractional grams and therefore is not directly comparable.

The customer will need to arrange for an identity proof to be available at the registered address at the time of taking delivery.

No, only the applicant can collect the gold. In case of applicant death the person nominee in the application form can collect the gold by showing the proof identity along with the original notarized copy of the death certificate. In case of nominee death the legal heir can collect gold by providing necessary documents.

Small Purchase Quantity : Goldsikka allows you to purchase Gold and Silver quantity in the forms of coins ranging from 1gram to 50 grams of gold and 1gram to 500 grams of silver.

Better Prices : The Gold/Silver is available at wholesale market price.

Ease of Account Opening: Opening an account is a hassle free process.

Ease of Operations : The funds can be transferred through Online/Offline mode and the purchaser/customer can transact through the platform making it very secure and convenient to operate.

Minimum Verification : All that the purchaser/customer needs to do is verify his mobile number for successful registration.

No Additional Costs : No brokerage is charged at any given point of time. The purchaser/customer do not have to pay for storage.

Prompt Customer Service : In case of queries or assistance, the customers service desk will be available by Email, Telephone or Live chat during business hours.

In Goldsikka, the Buy & Sell prices are quoted on the basis of wholesale prices in the spot market. We share the benefit of wholesale market prices with our purchasers/customers, making us more competitive as compared to others. Prices are quoted by Goldsikka for buying and selling irrespective of the quantity to be bought or sold. At any point of time, there will be a very nominal difference between buy and sell prices.

The buy and sell prices of Gold ETFs are quoted by multiple Authorized Participants. Also, the quoted buy/sell prices of Gold ETFs do not coincide with physical Gold prices due to the involvement of cash component. The prices are eventually higher due to fees of the asset management companies and brokerage charged by broking firms. Therefore, the Gold ETFs are likely to cost higher for retail buyers. In Goldsikka, the buy and sell prices are quoted by us on the basis of wholesale prices in the spot market. We share the benefit of wholesale market prices with our customers. So, you can buy/sell Gold and Silver at the most competitive prices.

Goldsikka is a savings product which urges purchasers/customers to save in physical Gold for their future physical Gold requirements - like Daughter's Marriage, Wedding Anniversary etc. Hence one should not look upon Goldsikka from an investment perspective. However if you look at Gold as an asset class, it has given a decent return with very little volatility in the Indian markets.

On the home page, look for Sign Up section. Enter your mobile number and verify the same. You will receive an OTP on your registered mobile number. You need to enter the OTP on the website to verify your mobile number. In case you do not receive the OTP you can also click on the resend OTP option available on the website. Once the mobile number is successfully verified you can start buying on Goldsikka. In the future for logging in, you may use the mobile number to login on the website.

The purchaser/customer can upload a scanned copy of any one of the below mentioned Identity Proofs.

Type of Member	KYC Required
Individual	PAN Card/Voter ID/Passport/Aadhar Card
Partnership Firm/Company	Pan Card

For Corporate Members, additional documents to be sent are mentioned below:

1.Company MOA, AOA, Board Resolution for Authorised Person.

2.Partnership Firm / LLP/ HUF Constitution Deed.

Goldsikka team shall verify and approve the KYC. Purchaser/Customers can request for delivery & withdrawal only once the KYC verification is completed.

The Goldsikka website reflects the price for Gold/Silver (i.e. Buy/Sell), and there is always a small spread between the buy and sell prices on Goldsikka. The spread changes on the basis of various factors including price volatility, supply, external market conditions and etc.

The purchaser/customer can download various reports from the Transaction History section to monitor his activity on the website.

No, account details cannot be modify on goldsikka.com. However they can send us a written request for modification with proof.