Systematic Purchase Plan (henceforth referred to as "SPP") is a disciplined accumulation of Gold Digitally. The SPP enables the customer to buy gold digitally of a fixed amount on a daily/weekly/monthly basis and accumulate Gold at a "Live Rate".
To start the SPP, the customer needs to register/log in to his/her myDigiGold account, click on ‘SPP’ and fill in all the mandatory required details. Upon successfully submitting the Online SPP application, the customer shall get a confirmation via SMS/Email.
The EMI payment amount shall be deducted by ECS mode.
The minimal EMI value will depend on the customer’s preferred interval. The maximum amount of each EMI also depends on the same.
Customer needs to provide his/her consent to start the myDigiGold Samriddhi Plan.
The customer gets an option to choose any date depending on the chosen interval (daily/weekly/monthly) for the SPP billing cycle. For example, if the customer submits a monthly SPP application on 7th October and selects the SPP cycle date as 12th of each month, then the SPP will initiate on 12th October. The same procedure follows for Daily and Weekly intervals.
One cannot change the amount of SPP, interval, tenure and cycle date once the request is submitted. To change one needs to exit from the existing SPP and register for a new one. There are no charges currently for doing the same.
A customer can have multiple SPPs with multiple intervals, amount, tenures and cycle dates at any time hassle-free via auto-debit through cards and Netbanking.
The Registered Customer can request for an exit from his/her existing SPP by contacting the customer help desk. For daily/weekly/monthly SPP, it will be only upon the payment completion of the current date/week/month of the SPP cycle. For e.g. If the customer has selected 15th of every month as his active SPP cycle, and the customer decides to exit the SPP on 10th of the cycle month, then the customer won’t be allowed to get an exit from the SPP as he/she needs to complete the SPP payment of the existing month to exit from the same. The same procedure follows for Daily and Weekly intervals. For more information you may reach out to our customer care helpline number.
At the end of SPP tenure or on SPP exit, the customer may sell/redeem the Gold digitally at the prevailing day’s market live rate displayed on the myDigiGold platform. Alternatively, the customer can request for an exit of his/her current plan in which case the Gold digitally shall get sold or redeemed at the market live rate as per same day scenario.
In case one misses his or her daily/weekly/monthly SPP instalment, the specific due payment shall stand as cancelled.
In this plan, every payment made by a customer would be treated as purchase by the customer and a proper Tax invoice would be raised against the same.
The SPP is neither a financial product nor a deposit scheme but a disciplined method of accumulating Gold digitally. MyDigiGold offers no investment advice or any assured returns while promoting the SPP.
In the event of any dispute or difference arising under these T&Cs the matter shall be subjected to the jurisdiction of Kolkata High Court.
