How to redeem JioGold into physical gold

What is JioGold?

When you buy digital gold through the JioFinance App, physical gold of the same value and 24K purity is stored in your name in top-tier secure vaults by Brink’s. It is validated by a trustee and is insured, assuring that your purchase is 100% secure. Simply put, your digital investment is actually backed by real, securely stored gold.

What makes JioGold a smart investment is that it makes buying gold very affordable. You can invest on a daily, weekly or monthly basis and start with an amount as small as ₹10. Unlike buying physical gold, digital gold saves you from the trouble of its storage and security.

JioGold also gives you the easy option to redeem your investment in physical gold. This makes it a much more useful option for those figuring out how to buy physical gold in the safest way possible.

Why redeem digital gold?

Investing in digital gold can probably be the best option to invest in gold. This is also because it allows you to convert your investment and redeem 99.9% pure gold. It helps you ensure that you make the most of your hard-earned money. Some common reasons to redeem digital gold include:

• If you plan to gift someone on the occasion of festivals, weddings or any special occasion
If you wish to redeem gold into physical form for practical and emotional reasons
• If you want the best way to buy physical gold
• If you wish to diversify your portfolio and go beyond digital gold.

What are the steps to redeem JioGold into physical gold?

JioGold gives you complete flexibility when it comes to redemption. If you need money, you can sell your gold anytime without worrying about hidden costs.

If you want physical gold, you can easily convert your balance into gold coins ranging from 0.5g to 10g and get them delivered to your home. You can also use your gold balance to buy jewellery from Tanishq and Caratlane stores.

If you wish to redeem gold from your JioGold holdings into physical coins or bars, you need to follow the given steps.

• Step 1: Log in to the JioFinance App
• Step 2: On the dashboard, navigate to JioGold
• Step 3: Your portfolio would be displayed on the screen. Before proceeding, it is suggested that you carefully assess the ‘live gold market rate’
• Step 4: Check your gold balance and click on ‘Redeem’
• Step 5: Enter the amount of gold that you wish to redeem. You can pick between coins and bars, or exchange the digital gold for jewellery. When redeeming, JioGold allows you to use your total digital gold balance.
• Step 6: If you are getting physical gold delivered to your place, you’ll have to fill in your address.
• Step 7: Before you confirm the order, make sure to review the order, check the delivery and the charges.

Points to keep in mind before redeeming digital gold

Redeeming digital gold can be the best way to buy physical gold​ for many. However, just like all other types of investments, it is suggested that you exercise caution. Redemption should be a well-thought-out decision, and you must keep the following things in mind:

1. When you redeem gold, make sure you understand the charges that come with it
2. If you are buying jewellery from a store against the digital gold, make sure to factor in the making and other charges
3. In most cases, the gold prices will be locked at the time of the redemption request, so you may want to time your redemption to maximise the return
4. Make sure you fill in your address details carefully to avoid delays
5. Once you receive physical gold, consider proper storage and safety.

Conclusion

JioGold offers a convenient and hassle-free redemption experience, designed around your preferences. You can make the most of this digital convenience and redeem gold physically. JioGold is a hybrid approach which can be the best way to buy physical gold, balancing ease, safety, and accessibility. Download the JioFinance App today.