FAQ

1.Is it safe to buy digital gold?

It’s completely safe. More Safer than jewellers from which you buy. Remember we are buying it back from you at market rates without any deduction and can't claim later on its sub-standard since you have never taken the delivery.

2.Is buying Gold / Silver @ Gold Zap safe?

Yes, it is very safe to buy Gold/Silver from Gold Zap. The best part of buying the gold online @ Gold ZAP is all your gold purchased is 100% insured.

3.Why purchasing in Gold Zap is advantageous?

  • Buy Small Quantity – Gold Zap allows you to purchase Gold / Silver for as low as Rs.1.00/-
  • Better Prices – The Gold/ Silver is available at wholesale market prices.
  • Buy Back – You can sell the Gold/Silver bought from us at very low spreads.
  • Account Opening – Opening an Account is a hassle free process.
  • Verification – Verify the mobile number for successful registration.
  • Brokerage Costs – No brokerage is charged.
  • Storage Costs – No charges for storage is charged.
  • Insurance cost – No cost for insurance is charged.
  • Delivery – The customer can avail delivery (i.e. Gold Coins/ Silver Bars) at their doorstep.
  • Prompts Customer Service – Contact the Customer Service Desk by Email, Telephone or Live Chat during business hours.

4.What is the quantity of Gold/Silver that I can sell back?

You can sell any quantity of Gold/Silver on Gold Zap on the prevailing buying price. However, you are allowed to sell only the Gold/Silver that you have bought from Gold Zap.

5.What does Gold Zap offer to customers?

Gold Zap through its mobile app and website sells 24 carat 999 Gold and 24 carat 999 Silver.

6.When can I buy/sell on Gold Zap?

Gold / Silver can be bought, sold or withdrawn online 24 hours a day, 7 days a week, and 365 days a year.

7.Why is there a difference in the Buy and Sell price on Gold Zap?

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

8.How does Gold Zap ensure a Fair and competitive price?

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 customers, making us more competitive as compared to others.

9.How can I exit/terminate ongoing ‘Gold ZAP’ account?

You can request to terminate your account by contacting the customer support desk. We will terminate the account, on the request received from you. But, before termination of account you shall do the following:

If you hold any quantity of Gold/Silver in your Gold ZAP account, the quantity should be sold back at market prices. If there is any balance advance with us the same shall be withdrawn by you by submitting a withdrawal request.

10.Where is physical Gold/Silver stored?

The physical Gold/Silver purchased is stored in a highly secured State of art "Safe vault" with full insurance cover, so you can be rest assured about the safety of your asset. You can also build a habit of regularly saving in Gold with as low as Rs. 1.00/-

11.Who is insuring the physical gold/silver?

Insurance is done with a leading insurance company which insures the physical gold/silver stored in vaults and the gold, silver and jewelry at the time of delivery in transit.

12.What is Systematic Investment Plan (SIP)?

  • The Systematic Investment Plan (SIP) is a scheme where in you can buy Gold/Silver of a certain fixed amount every month. It allows accumulating Gold/Silver in smaller quantity through periodic installments. Thus the monthly installment is used in a month on your selected date to buy Gold/Silver at Daily prices at 1:00 pm.

  • For example: If you create a SIP of Rs. 1000 per month, Rs.1000 will be utilized on selected date for purchase of Gold/Silver.

13.Gold Zap SIP?

  1. How to start with Gold Zap SIP?

    Once you are successfully registered, you need to click on the SIP link, fill in a simple form specifying your choices and submit. Your application to SIP will be completed and you will get a confirmation sms. You have the option of using ECS (Direct Debit) wherein this amount shall be debited in your bank account on a regular basis.

  2. What is the minimum amount of investment for SIP?

    The SIP investment can be started with a minimum amount of Rs. 1,000/-month. There is no limit on the maximum amount for SIP investment and you can invest in multiples of Rs. 1,000.

  3. What is the SIP investment tenure?

    The customer has the option to select SIP Investment Tenure ranging from 1 year to 10 years.

  4. Can the tenure of SIP plan be extended?

    No, the tenure of SIP plan cannot be extended once the SIP plan is successfully created. However, you can avail a fresh SIP plan at the completion of the existing SIP in just one click.

  5. How many SIPs can I create with my Gold Zap account?

    You can create as many SIPs (with different options) as you want from on single Gold Zap account.

  6. Can I sell the SIP accumulated quantity during SIP tenure?

    YES, the SIP accumulated quantity can be sold anytime during SIP tenure. The customer can sell the gold and silver accumulated under the SIP completely at the market price of ‘Gold Zap’ on that day.

  7. Are there any charges for exit the SIP plan?
    .

    No, the member doesn’t have to pay any charges for exit the SIP plan.

14.Gift of Gold/Silver?

  1. Can my Gold/Silver be gifted?

    Yes, you can gift the Gold/silver in your account balance by clicking on Gift and transfer by entering the beneficiary mobile number. The gift transferred will be sent by sms. The same will be credited in the beneficiary account once the Gold Zap app is downloaded.

  2. What if the beneficiary dose not claims the gift?

    If beneficiary does not claim the gift within 15 days. The same will be credited back to the issuer account.

15.What is GST?

All our prices quoted on the app are exclusive of GST and other applicable taxes.

16.How do I request delivery of the Gold/Silver bought from Gold Zap app?

You can request delivery of the Gold/Silver bought on Gold Zap in the form of coins and bars and they shall be delivered at your doorstep. The customer can request the delivery by selecting from a wide range of coins and bars and paying a nominal delivery fee.

17.Can I track where my delivery is?

Once the delivery request has been placed by you and accepted by Gold Zap, you will receive a link in email/Sms which will help you keep a tab on the status of your order. You can also check the status of your order in the Request Delivery tab on the dashboard.