myDigiGold

Q: Who is myDigiGold?

A: myDigiGold is a cutting-edge digital platform owned by Senco Gold Limited, offering users a seamless way to buy, sell, and redeem gold. Backed by over eight decades of legacy, Senco Gold & Diamonds is one of India’s most trusted jewelry brands, recognized for delivering 24K gold with 99.5% purity. It offers customers a secure, transparent platform to engage in digital gold transactions while providing the flexibility to redeem gold at any of the 160+ Senco Gold and Diamonds showrooms.

Q: What are the eligibility criteria for enrolling in myDigiGold?

A: To enroll in myDigiGold, any Indian resident above the age of 18 with a valid PAN Card, Aadhar Card, and an active bank account can join the platform. These essential documents ensure compliance with regulatory norms and enable users to engage in seamless digital gold transactions.

Q: What is the myDigiGold Refer and Earn program?

A: The myDigiGold Refer and Earn program is a rewarding initiative that allows existing customers to invite their friends and family to join the platform. By referring new users to myDigiGold, you earn bonus gold when your friend completes their first transaction. Both you and your friend benefit from this program, helping you grow your digital gold holdings while sharing the advantages of digital gold investment.

Q: What is the referral code for myDigiGold?

A: The referral code for myDigiGold is HCHAA28179.

Q: Who is eligible to participate in the myDigiGold Refer and Earn program?

A: The myDigiGold Refer and Earn program is open to all registered customers of the platform. To qualify, users must have an active myDigiGold account and must have successfully completed their KYC process. Any existing user can participate by inviting friends or family who are not yet registered with myDigiGold, allowing both parties to benefit from the program.

Q: Who can I refer to myDigiGold?

A: You can refer any new user who hasn’t previously registered with myDigiGold. This means you can invite friends, family members, or colleagues who are interested in buying, selling, or investing in digital gold. The referred person must be a first-time user of the platform to qualify for the bonus.

Q: How do I access the myDigiGold Refer and Earn section?

A: Accessing the Refer and Earn section is simple. Once you log in to your myDigiGold account, navigate to the homepage or main menu, where you'll find the "Refer and Earn" option. This section provides everything you need to generate your unique referral code or link and track your referrals. The program is designed to be user-friendly, making it easy to participate.

Q: How do I generate and share my myDigiGold referral code?

A: To generate your referral code, go to the "Refer and Earn" section on the myDigiGold app or website. A unique referral code or referral link will be automatically generated for you. You can then share this code or link via social media, email, or messaging apps. Simply copy and paste the link or code to invite others to join myDigiGold.

Q: How does my friend use my myDigiGold referral link or code?

A: When your friend clicks on the referral link or enters the referral code during their registration process on the myDigiGold app or website, they will automatically be registered under your referral. Once they successfully sign up and make their first gold purchase, both you and your friend will receive bonus gold in your respective myDigiGold accounts.

Q: What rewards do I get for referring friends on myDigiGold?

A: For every successful referral, you receive bonus gold worth Rs. 200, and your referred friend receives bonus gold worth Rs. 100 after their first transaction on myDigiGold. The bonus is credited digitally to your myDigiGold account, where you can view and manage your accumulated gold. This bonus system encourages both you and your friends to actively invest in gold.

Q: How soon do I receive the bonus gold for a successful myDigiGold referral?

A: The bonus gold is credited to both your account and your friend’s myDigiGold account once your friend completes their first purchase on the platform. The process is typically quick, with rewards being credited shortly after the transaction is confirmed. You can view your bonus gold in the "Portfolio" section of your account.

Q: How can I track my referrals and earned rewards on myDigiGold?

A: myDigiGold offers a dedicated Refer and Earn dashboard where you can easily track the status of your referrals. You can see how many friends you have referred, whether they have completed their first transaction, and the total amount of bonus gold you've earned. This feature helps you stay updated on the progress of your referrals and the rewards you’ve accumulated.

Q: Is there a limit to how many friends I can refer through myDigiGold?

A: No, there is no limit to the number of friends or family members you can refer to myDigiGold. The more people you refer, the more bonus gold you can accumulate, giving you the potential to grow your digital gold holdings significantly. However, all referrals must meet the eligibility criteria of being new users.

Q: What happens if my referred friend does not complete a purchase on myDigiGold?

A: If your referred friend registers but does not complete their first purchase on myDigiGold, neither of you will receive the bonus gold. To ensure that you both benefit from the program, your friend must complete the purchase of a designated amount of gold on the platform. If the purchase isn’t completed, the referral remains incomplete.

Q: What types of referrals are considered eligible for the myDigiGold Refer and Earn program?

A: Only unique, new customers who have never registered with myDigiGold before are eligible for the Refer and Earn program. Self-referrals, duplicate accounts, or referrals involving existing users are not eligible for bonus gold. To ensure fairness and transparency, myDigiGold monitors all referrals closely to prevent abuse or fraudulent activity.

Q: Can myDigiGold modify or terminate the Refer and Earn program?

A: Yes, myDigiGold reserves the right to modify or terminate the Refer and Earn program at any time. Any changes, including modifications to the rewards structure or terms, will be communicated through the platform. Users are encouraged to regularly review the terms and conditions to stay informed about any updates to the program.

Q: What should I do if I encounter issues with my myDigiGold referral bonus?

A: If you experience any issues with receiving your referral bonus or encounter any other problems related to the Refer and Earn program, you can contact myDigiGold customer support. The support team is available via email at customerfeedback@sencogold.co.in or by phone at 18001030017 (Toll-Free). They will assist you in resolving any issues promptly.

Q: What happens if a referred friend or referrer violates the terms of the myDigiGold Refer and Earn program?

A: If any participant, whether a referrer or a referred friend, is found violating the terms and conditions of the myDigiGold Refer and Earn program—such as engaging in fraudulent activity or using duplicate accounts—myDigiGold reserves the right to disqualify them from the program. In such cases, any rewards earned through the fraudulent referrals may be revoked, and the participant may be banned from future participation.

Q: Is KYC mandatory for myDigiGold?

A: Yes, completing KYC is mandatory for all myDigiGold users. You will need to upload your PAN and Aadhar card to your myDigiGold account to complete the KYC verification process. Without successful KYC, you won’t be able to make transactions, ensuring that all operations are compliant with regulations.

Q: What is the minimum and maximum amount of gold I can buy on myDigiGold?

A: The minimum purchase value for myDigiGold is 0.050 grams of gold, while the maximum purchase per transaction is Rs. 10 Lakhs. Additionally, you can buy up to Rs. 1 Crore worth of gold per day, provided KYC and other regulatory requirements are fully met. This ensures flexibility for both small and large-scale gold buyers.

Q: What is the purity of gold offered under myDigiGold?

A: myDigiGold offers customers 24 Karat gold of 995 purity (99.5% pure). This international standard gold is securely stored, and users can rely on the platform’s trusted custodian for high-quality gold transactions, ensuring peace of mind for every investor.

Q: How can I get my myDigiGold portfolio statement?

A: Your portfolio statement is available online at all times. You can view your gold holdings and transactions by clicking on "Portfolio Statement" in your myDigiGold account. Additionally, a quarterly balance statement will be sent to your registered email, helping you stay updated on your gold investments.

Q: How are the buy/sell rates for myDigiGold determined?

A: myDigiGold displays daily buy and sell rates based on prevailing market conditions. These rates reflect international market prices, payment gateway charges, and nominal platform service fees. This dynamic pricing ensures that customers always trade gold at competitive rates.

Q: How can I sell my gold on myDigiGold?

A: Selling gold on myDigiGold is easy and can be done digitally. Log in to your account, select the quantity of gold you wish to sell, and follow the step-by-step instructions on the homepage. Your gold value will be credited directly to your linked bank account after the transaction is completed.

Q: How can I redeem my myDigiGold holdings?

A: You can redeem your accumulated myDigiGold at any of the 160+ Senco Gold and Diamonds showrooms across India or online through sencogoldanddiamonds.com. You can purchase gold jewelry, coins, or even diamond and platinum items. Additionally, you can convert your accumulated gold into the Marigold Scheme payment voucher to pay for jewelry purchases in-store.

Q: Why is the Buy Price different from the Sell Price on myDigiGold?

A: The buy and sell prices on myDigiGold differ due to multiple factors. When buying gold, GST, payment gateway fees, and custodian charges are added to the price, while these costs are excluded during sales. Moreover, the wholesale bullion market operates at different rates, which impacts the pricing structure, resulting in a difference between the buy and sell prices.

Q: Is my digitally purchased gold kept in safe custody on myDigiGold?

A: Yes, your gold is securely stored in a safe custody arrangement with reputed partners like Sequel Logistics. myDigiGold collaborates with global market leaders in secure vaulting and logistics, ensuring that your gold is safely stored and fully insured for its duration in storage.

Q: Who insures the physical vault for myDigiGold?

A: myDigiGold has partnered with secure logistics providers who insure the physical vaults where your gold is stored. In addition to the custodian's comprehensive insurance policy, myDigiGold provides transit insurance, covering your gold from the moment it leaves the vault until it reaches you, ensuring full security at all times.

Q: Who handles consumer complaints for myDigiGold?

A: myDigiGold offers dedicated customer support to handle any issues or queries. You can reach out to the support team via email at customerfeedback@sencogold.co.in or call the toll-free number 18001030017. Whether it’s a technical issue or a general query, the team is ready to assist.

Q: What happens if myDigiGold payment is deducted, but the gold is not credited?

A: In the unlikely event that a payment is deducted but the gold is not credited to your myDigiGold account, please contact the customer care team immediately at 18001030017 (Toll-Free) or via email at customerfeedback@sencogold.co.in. The support team will investigate the issue and resolve it as quickly as possible.

Q: What happens to my gold if the company goes into liquidation?

A: Even in the event of company liquidation, your gold remains safe. Since your gold is stored with an independent custodian and fully insured, you maintain ownership of your purchased gold. You would retain the right to claim your gold, and it can be transferred to another custodian or directly to you. myDigiGold cannot pledge or lay claim to your gold holdings.