Once you've decided digital gold makes sense for you, the next questions are practical: How much do you need to start, what does it cost, and what paperwork does it involve? Here's everything on buying digital gold through RamMudra™, IGM's digital gold app.
Who can buy RamMudra™ Digital Gold?
Resident Indians who meet the applicable eligibility requirements can buy RamMudra™ Digital Gold. Depending on the value and nature of your transactions, you may need to complete KYC and provide valid identification and banking details.
How do I buy digital gold with RamMudra™?
You can buy digital gold through the RamMudra™ app. Choose the amount of gold you want to buy in grams or rupees, complete the transaction at the applicable price, and the corresponding quantity of gold is added to your digital holding.
What is the minimum amount of digital gold I can buy?
You can start buying RamMudra™ digital gold with as little as ₹10, there's no fixed or recurring commitment required.
Can I buy digital gold in small amounts?
Yes. RamMudra™ supports fractional ownership, allowing you to accumulate gold in smaller quantities rather than buying a complete coin or bar.
Can I buy digital gold regularly?
Yes. You can set up daily, weekly or monthly Autopay, or do a one-time purchase, and build your holding over time.
How is the quantity of gold I receive calculated?
The gold credited to your account is based on the amount you pay, the applicable GST, and the live gold price at the time of your transaction. Your gold quantity is calculated and displayed in your RamMudra™ account.
What price do I pay when buying digital gold?
You pay the applicable gold price displayed on the RamMudra™ app at the time of your transaction. Since gold prices change with market conditions, the price may differ from an earlier quote.
Are there any charges for buying digital gold?
You have to pay applicable taxes at the time of purchase. There are no additional charges and the details will be clearly displayed before you complete a transaction.
Is GST charged on digital gold?
Yes, on the buy transaction. GST of 3% is included in the amount you pay, and the gold quantity credited to your account is calculated after accounting for it. There's no GST when you sell your digital gold.
Do I need KYC to buy digital gold?
KYC isn't required for purchases up to ₹2 lakh. Above that limit, or for certain cumulative holdings or transactions, KYC and additional verification are required. RamMudra™ may also request documents at any time for regulatory compliance, fraud prevention or account security.
The takeaway
Buying digital gold on RamMudra™ is designed to be simple and convenient: start from ₹10, pay the live market price with GST already factored in, and no separate purchase charges on top. KYC only kicks in once you cross ₹2 lakh in eligible purchases.
