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The safest place to accumulate and hold your long term savings.

999 purity physical gold bought and stored at the MCX Exchange for 1% Commission.

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The estimated accumulation is based on the assumption that gold price appreciates 10% CAGR p.a.. Actual grams accumulated depend on actual gold prices.

Protect your savings from inflation & financial market risks

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Withdraw any time. 6 Options
milliGOLD Product Overview
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Any time Withdrawal

You can withdraw the accumulated gold balance in your account, fully or partially, any time, even before the end of the plan period. There are 6 ways to withdraw your Gold balance as shown above.

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Physical Gold

All payments are converted to 999 physical gold on the same day using MCX Exchange quoted price plus a fixed commission. The Gold bars are bought and stored at the MCX Exchange Warehouse in Ahmedabad with warehouse receipts and traceable serial numbers.

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Digital Payments

Every payment you make through the banking channel, is digitally tracked and instantly processed with a GST Bill.  There are 6 ways to add Gold to your milliGOLD account  as shown above. Bank Collection charges: Rs 20 per gram.

How to start a Gold Saving Scheme?

  milliGOLD is a PWA App. Works on a mobile browser. No need to install from play store. Type https://app.milligold.in on your browser, login with OTP and go to Save Menu

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Step 1

Select Amount and Duration

Select an amount that can be automatically debited from your bank account at the beginning of the month. (Min Rs 1000 PM). Whenever you have excess money to save, You can always make additional ad-hoc UPI payments – any amount, any time - over and above your monthly subscription. Your UPI Pay-In ID is milligold.accountno@icici which you can pay from any UPI app without even coming to our app.

The duration you choose will determine the expiry date of your e-Mandate, after which, if you want to continue saving gold, you have to renew the e-Mandate once again. There is no link between e-Mandate duration and withdrawal. You can withdraw your Gold any time, even when your e-Mandate period is not over.

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Step 2

Enter Contact Details

Setup your name and email ID in the profile section. Top right Icon on Home menu.

Other profile details like Address, Pincode, Bank account details, Nominee details etc. are not compulsory to start the plan. But to ensure the safety and security of your account, you need to complete these information at app.milligold.in within 1 month.

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Step 3

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Authorize e-Mandate online (ECS/SIP)

e-Mandate is an online process similar to ECS and SIP and is managed by NPCI in partnership with all major banks and payment gateways. e-Mandate authorizes your bank to debit your account automatically every month, for a given amount, on a preferred date (Example 5th, 10th etc). You can cancel the e-Mandate  or change the monthly amount and duration any time. After you have created your plan, you can find the eMandate Authorization link in the Manage Tab of the Save Menu. You can also set up a live call / video call / live chat with our customer service team to guide you through the e-Mandate process.

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Our top 12 Features.

Our top 12 Features.

1.

Gst bill for each payment

2.

100% converted to 999 gold on same day

3.

Home delivery of Coins & Bars

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Jewel Chit

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Digital Gold

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Gold ETF

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milliGOLD

11.

Exchange Quoted Price & Fixed Trade Margin

12.

No discount at the time of selling

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Jewel Chit

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Digital Gold

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Gold ETF

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milliGOLD

4.

No 11 month limit (3 months to 30 years)

5.

Sell any day. Settled within 2 days

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Jewel Chit

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Digital Gold

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Gold ETF

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6.

100% Auditable storage at MCX Exchange Warehouse

7.

Option to have a locker in your own name

8.

Warehouse receipts and Traceable Serial Nos

9.

Buy Jewellery in any shop of your choice

10.

Convert to RBI Gold Bond on next issue

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Jewel Chit

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Digital Gold

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Gold ETF

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milliGOLD

Jewel Chit

Gold ETF

Digital Gold

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Secure

GST bill for each payment

100% converted to 999 gold on same day

No 11 month limit (3 months to 30 years)

100% Auditable storage at MCX Exchange Warehouse

Option to have a locker in your own name 

Warehouse receipts and Traceable Serial Numbers

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No

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No

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No

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No

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No

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No

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No

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No

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No

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No

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Yes

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No

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No

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No

Transparent

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No

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No

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Yes

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No

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5 Redemption Options

Buy Jewellery in any shop of your choice

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X

No

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No

Yes

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No

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Yes

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Yes

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Yes

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Yes

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Yes

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Yes

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Yes

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No additional discount at the time of selling

Exchange Quoted Price & 1% Commission

Home delivery of Coins & Bars

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No

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Yes

Move to Locker in your own name

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No

No

No

Sell any day. Settled to your bank account.

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No

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Yes

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Yes

Convert to RBI Gold Bond (Every issue or Every Year)

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No

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No

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No

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Yes

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Yes

Top 12 features

Simple, transparent Pricing & Charges.

Buy

+6.0 paisa / mg

MCX Prev. Trading Day Closing Price + 1% milliGOLD Trade Margin

Redeem

-6.0 paisa / mg

MCX Prev. Trading Day Closing Price - 1% milliGOLD Trade Margin. 

Applicable for bank settlement and conversion to RBI Gold Bond

Bank Payment Processing & GST

2.0 paisa / mg

For e-Mandate and UPI

3% GST

As per Government Rules

Home Delivery of Coins/Bars

2% + Rs 100

Minting charge + Postage

Settlement while you are at Jewellery Shop

Rs 25 per gram

Our customer service team will coordinate with you over live chat.

Rented Locker in your own name

1% fee to move +
Rs 36.5 per gram per year

Only gold bought through milliGOLD / MCX can be stored.

Pricing & Charges
Redeem gold

Frequently Asked Questions.

  • 1. Why Save Gold?
    Gold outperforms all products, including PF, Mutual funds and Equity Index Funds over the long term. Because, when the economy and markets are doing well, people buy more jewellery appreciating its price. But people don't sell their Gold for ordinary expenses. They pledge it and pay interest and thus holding the price. Gold as an asset, is free from market risks. Provides security. Protects our savings from eroding value of money. And you can sell it anytime giving instant liquidity. Gold also protects our savings from our own spending habits. Because we won't touch gold for ordinary expenses. The accumulated gold can be used to buy Jewellery, fund college education, invest in property or use it post retirement. The graph below shows the performance of Gold from 2000 to 2020 compared to PF and NIFTY50 Equity Index. Rs 10,000 invested in Gold in the year 2000, appreciated to Rs 120,000 in 2020. PF with compound interest appreciated only to Rs 60,000. That is 2X performance. NIFTY50 Equity Index grew from 1500 to 12000 between 2000 to 2020, whereas Gold grew from Rs 430 per gram to Rs 5200 per gram during the same period. A 50% better performance.
  • 2. Gold ETF funds also invest in Gold right?
    Yes but they invest only 50% of funds in Physical Gold and the balance in financial derivatives. They are quoted in mutual fund units (not Gold grams) with NAV. There is no legal right of possession for the Gold, as you don't own the gold, only the mutual fund units. So Gold ETFs are not as secure and safe as Physical Gold coins and bars stored in your own locker.
  • 3. Why is milliGOLD the Safest, Simplest and Cheapest Gold Saving Product?
    Safest because, we buy and store the Gold in a SEBI approved exchange locker. Simplest because, you can accumulate milligrams as gifts and rewards from corporates and brands. You can also add your own savings to it through single click UPI payment or monthly SIP through ECS/ eMandates. Cheapest because, we use the MCX exchange price, have zero buy-sell spread, zero making charge, zero wastage and a transparent commission of 1%.
  • 4. Can I use the accumulated Gold balance to buy Jewellery in any shop of my choice?
    The short answer is Yes. There are 3 ways you can do this: 1) Ensure that your address details are updated at app.milligold.in. Redeem your accumulated gold balance as 999 purity Coins / Bars delivered to your home address from time to time. (Example every 10 grams). You can then give these coins/ bars to the Jewellery shop where you are buying and get the bill adjusted for the market value of Gold given. 2) Ensure that your bank details are updated at app.milligold.in. When you redeem, choose "Bank settlement" option. The market price of the gold on the date of redemption, will be credited to your bank account. Now you can use your own debit card to buy Jewellery in any shop of your choice on the same day at the same gold price. 3) If you are worried, that you will spend the money for some other purpose, choose "Direct Settlement at Jewellery Shop" option. This is same as Bank Settlement explained above, except that the transfer of money to your bank account will be timed to happen just a few minutes before you reach the billing counter of the Jewellery shop. (Our customer service officer will coordinate with you over live chat). We will soon be launching a Rupay Card that can be used only in Jewellery shops. * Please refer to the section on "Fees and Charges" to know the exact calculation formula used for buying price and settlement amount. * Please note that there will be a cooling off period of one month every time you update your address or bank account details, before you can redeem. This is to reduce the risk of someone misusing your phone / login to commit fraud.
FAQ
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RSR, CEO

30+ Years in Management & 15+ Years in Strategic Consulting, across a wide variety of domains and products.

Our Team.

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Deepak, CTO

18 Years in the IT industry with extensive experience in large scale systems like Insurance, e-governance & manufacturing.

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Rohini, Advisor

15 Years in the Banking industry, specializing in Anti-Money-Laundering, e-KYC, Compliance, Control and Risk.

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