01About these terms
These terms are an agreement between you and [Company legal name] (“Save My Gold”, “we”, “us”). They apply when you use the Save My Gold app or this website. By creating an account, you accept them.
Your gold is sold to you by [Gold partner] and stored by [Vault partner]. Their terms also apply to your gold, and you can read them in the app.
02Who can use Save My Gold
- You must be 18 or older and live in India.
- You must have a PAN and a bank account in your own name.
- You must complete verification (KYC) before you buy gold.
- You can have only one account.
03Your account
Give us accurate details and keep them up to date. Keep your PIN, OTPs and phone safe, and don't share them with anyone, including people who say they work for us.
You are responsible for what happens in your account. If you think someone else has got into it, contact us straight away.
04Buying gold
- You can buy from ₹100 at a time.
- The buy price, GST, any charges and the grams you'll get are shown before you pay. The price is held for [5 minutes].
- Gold is added to your balance once your payment is confirmed. If a payment fails, no gold is bought, and any money taken is refunded [within X working days].
- Your balance is shown in grams to four decimal places.
05Auto save
When you set up auto save, you allow us to take the amount you chose on each scheduled date through [UPI AutoPay or e-mandate] and buy gold with it at that day's price.
You can change, pause or stop auto save at any time in the app. Changes apply from the next scheduled save. If a payment fails, no gold is bought for that date.
06Selling gold
You can sell all or part of your gold at the sell price shown in the app. The money is sent to the bank account linked to your profile, which must be in your name, [usually within X working days]. [State any minimum sale amount or holding period.]
07Physical gold
You can convert your gold into [coins or bars] from [1 g] and have it delivered to your address. Making and delivery charges are shown before you confirm. [Describe delivery times, checks on receipt and returns.]
08Storage and ownership
The gold you buy belongs to you. It is held for you by [Vault partner] in [City], under the oversight of [Trustee name]. Save My Gold does not hold your gold and cannot use it.
[State any limit on how long gold can be stored, any storage fee, and what happens when the limit is reached.]
09Fees and taxes
GST, currently 3%, is added when you buy gold. [Describe any platform fee.] All charges are shown before you pay. You are responsible for any tax due on gains when you sell, such as capital gains tax.
10Risks
- The price of gold goes up and down. The value of your gold can fall, and you may get back less than you paid.
- Because the sell price is lower than the buy price, selling soon after buying usually returns less than you paid.
- Digital gold is not regulated by SEBI or the RBI. It is not a security, so SEBI's investor protection and complaint process do not cover it.
- Past price movements don't guarantee future returns.
11Acceptable use
Don't use Save My Gold for anything illegal, including fraud or money laundering. Don't try to get into other people's accounts, interfere with the app, or copy or scrape it with automated tools.
12Suspending or closing accounts
You can close your account at any time once your gold balance is zero.
We may suspend or close an account if the law requires it, if we suspect fraud or misuse, or if you break these terms. Where we can, we'll tell you why and give you the chance to sell your gold or take delivery of it.
13Our responsibility to you
We will run the service with reasonable care and skill. We are not responsible for losses caused by changes in the gold price, by events outside our reasonable control, or by you sharing your PIN or OTP. [Set out any further limits of liability.]
Nothing in these terms limits your rights under Indian consumer law.
14Changes to these terms
We may update these terms. We'll tell you about significant changes in the app or by email at least [30 days] before they take effect. If you don't agree, you can sell your gold and close your account.
15Governing law and disputes
These terms are governed by the laws of India. If you have a complaint, contact support first, then our grievance officer. The courts in [City] have jurisdiction over any dispute.
16Contact us
[Company legal name], [Registered address]. Email support@savemygold.example.