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| Topics >> by >> how_to_convert_egold_to_phy |
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 The investment in e-gold is the same as physical gold. These e-gold investments are usually associated with NSEL (National Spot Exchange). The customer purchases e-gold in Demat format, and then deposits it into the beneficiary account at NSEL in the person's name. These beneficiary accounts are Demat accounts having one or more joint holdings. These beneficiary accounts, also called Demat accounts, are used by investors to trade e-gold. How can I convert egold into physical gold It is possible to convert e-gold into physical gold using a method which is systematic. 1gram is the minimum amount of e-gold that can be converted into physical gold. Here is a systematic guide to how to convert digital gold to physical gold; DP: Depository Participant takes care of the e-gold. The investor has to deliver the egold and a delivery slip (DIS) to NSEL before they are able to convert the gold into physical. These documents are available for free through the NSEL website. SRF: SRF stands for Surrender Request Form. Any investor looking to convert digital gold to physical gold gold has to submit an SRF to National Spot Exchange (NSEL) requesting the conversion of Demat units into physical gold. SRF also demands that the investor mention the denominations of physical gold to be provided. However, e-gold converted into physical gold is offered in denominations of 8 grams, 10 grams, 100 grams, and 1000 grams. TRF: When the customer in the depository has submitted an electronic gold certificate to NSEL, the acknowledgment certificate along with the Transfer Request Form as well as an instruction slip for delivery are delivered to NSEL. The investor will then specify the delivery center for physical gold. Nominal charges: After the delivery instruction slip (DIS) and the Surrender request form (SRF) are submitted, the NSEL in Charge starts to calculate any additional charges like packaging, delivery costs VAT, etc. These charges are added to the final sum, and then delivered to the investor by E-mail. The investor has to create a check that is in the name of National Spot Exchange Ltd.. Delivery of Physical gold: The physical gold stored in the vaults of NSEL is completely secured and insured. The vaults are available at specific locations across the country. Ahmedabad, Bangalore, Cochin, Chennai, Delhi, Hyderabad, Indore, Jaipur, Kolkata, Kanpur, and Mumbai are all NSEL-approved centers. While submitting the forms, investors specify the center they prefer to receive physical gold. Investors can pick up the gold in the physical form from the center on the 7th day but before 15 days from the date of submission of the request. In case the investor is not able to collect the physical gold from the center they are liable to pay storage charges as an amount of penalty. Method for delivery of physical electronic gold DIS and SRF are sent to the participant in depository. The NSEL account is debited by the depository participant with the e-gold in the form. in the form. The depositary then signs the TRF and hands over the documents (DIS SRF, DIS, and TRF) to the investor. The investor must submit the required documents to NSEL and provide the address of delivery. NSEL calculates the invoice that includes all taxes and any other costs. The investor is expected to receive an invoice along with the amount by email to the email address listed in the invoice documents. The investor is required to pay according to NSEL guidelines. After the 7th day and before the 15th day the investor is able to visit the designated center to collect the physical gold. The physical gold will be handed over to the investor after ID confirmation has been carried out by the NSEL authorities. |
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