Shariah Compliance of Islamicly 24K REAL GOLD
Islamicly 24K REAL GOLD product is certified by reputed Shariah scholars to be in compliance with Shariah principles.
The Key principles of buying at SPOT Price and immediate possession by the buyer or his trsutee is incorporated in to the product, hence making it Shariah compliant. Gold purchased by you is immediately delivered to your Trustee - Vistra - and stored in World class vaults trusted by many Indian Banks maintained by Brinks
The Key principles of buying at SPOT Price and immediate possession by the buyer or his trsutee is incorporated in to the product, hence making it Shariah compliant. Gold purchased by you is immediately delivered to your Trustee - Vistra - and stored in World class vaults trusted by many Indian Banks maintained by Brinks
Yes Islamicly 24K REAL Gold offers back to back purchase of 24 Karat Gold of 995 purity (99.5% pure) and stored in trusted vault under your trsutee.
Yes, you are the absolute owner of the gold purchased
The folloiwng persons can buy:
- Indian residents having Indian PAN + Indian mobile number + Indian bank account
- NRI/OCI having Indian PAN + Indian Mobile number + Indian bank account
- Indian residents having Indian PAN + Indian mobile number + Indian bank account
- NRI/OCI having Indian PAN + Indian Mobile number + Indian bank account
Customers can buy any amount of gold as per his/her needs. The customer has complete freedom to seek physical delivery of gold or bars anytime and on as many occasions as he/she wants. Since it is not physically possible to deliver a fractional quantity of gold, minimum quantity for which the delivery is proposed to be made has been kept as low as 0.5 gram. The gold on behalf of the customer would be purchased including GST as and when his/her clear funds are available. Gold in grams up to 4 decimal places shall be credited to the customer's account on receipt of funds.
Islamicly 24K REAL Gold offers 24 Karat Gold of 995 purity (99.5% pure).
Yes, Your PAN is mandatory to purchase 24K REAL Gold on Islamicly
In case you are facing any issues with your KYC documents, please reach out to our support team on info@islamicly.com or call us on +91 8884478585.
On the completion on transaction you can download the invoice at the transaction summary page and it is also available in the 'Transaction History’ section of your dashboard.
The gold purchased by you shall be stored with a reputed custodian on a consolidated basis i.e. daily purchase across all the customers. An independent auditor/ trustee will confirm the balances with the custodian each quarter and reconcile the amounts with your balances. Once purchased, you are the absolute owner of that amount of Gold.
Islamicly provides a LIVE sell price quote on its website. Customers can choose to sell any amount starting with a minimum of ₹ 100 to a maximum equal to the amount of gold that they own. Proceeds will be sent within 4 working days to the customer's bank account after deducting any applicable transaction charges (which will be disclosed in advance). The sell quote may be temporarily unavailable in the unlikely event of a disruption in the bullion market.
When you sell your gold, you’ll receive funds against it in a verified bank account in your own name. You can add your account details prior to the sale, which will be verified by us. Once the verification is complete, you’ll receive the proceeds post the sale of your gold, within 4 working days.
It takes 4 working days to get money credited to your account once you have sold your gold. If the sell transaction has been made on Friday/Saturday or Sunday, then you will receive your sales proceeds by Tuesday of the following week, in normal circumstances.
If the sales proceeds have not been received within 4 working days of the transaction, please email our customer service team at info@islamicly.com with your related transaction details, and we shall resolve your issue.
In case you are facing any issues with Bank account verification, please reach out to our support team with a screenshot of the issue on info@islamicly.com.
We send funds to your account the following day after your sell transaction has been completed, and are subject to verification of your bank account details, if necessary. Due to the operational hours for banking transactions, as well as the time taken to transfer funds between banks, your funds may take up to 4 days to reach your bank account.
PAN is required when buying or sell gold worth more than Rs. 500.
No, you cannot add a bank account with a different name than your PAN name.
If the lifetime sell amount is less than Rs 500, the user can provide any bank account details/UPI VPA and the amount will be credited after 48 hours.
If the cumulative purchase is above Rs. 500, you will get back the sale proceeds within 48 hours to bank account matching the PAN name
Yes, a user can dispute a PAN that already exists in the system by providing a PAN upload and doing Aadhar KYC. Islamicly Customer Support will verify and approve after verification, and the PAN will be shifted to the user’s profile along with Aadhar.
A Gold Savings Plan is a systematic savings tool that allows customers to accumulate gold by choosing a fixed instalment amount on a weekly/monthly basis for a selected duration. Customers can accumulate gold and later use it to exchange gold for jewellery on Islamicly (SafeGold).
Yes, you can choose more than 1 Gold Savings Plan by adding individual SIP details for each.
Yes, you can cancel a Gold Savings Plan, post which you will not be charged for the next instalment.
Yes, you can make changes to your Gold Savings Plan in two ways – either increase the instalment amount or increase the duration of the plan. However, you cannot decrease the instalment amount, or change the frequency of the instalment.
You can choose a minimum amount of Rs. 2500 or higher for the Gold Savings Plan.
You can opt for an e-mandate from the accepted banks list to pay SIP amount.
It takes up to 5 working days for the bank to verify your e-mandate. Once an e-mandate is verified we will send you a SMS to intimate you that it is confirmed and the savings plan is now active.
For an SIP (Weekly or Monthly) our system triggers a payment on the SIP date. In case the transaction fails, including due to insufficient balance in the account, we will make two consecutive retries in the following days. After 3 failed attempts, the SIP payment for that particular week or month is skipped. Islamicly does not charge users for failed transactions, but we urge users to maintain sufficient balance in their bank account to avoid bank bounce charges by the banks.
The Gold rate applicable on the SIP debit day will be taken for executing the purchase.
Yes, actual quantity of gold equivalent to SIP amount is purchased and stored in the Vault under your trustee.
- You can request for all or part of your gold holding, from 0.5 gm (and multiples thereof).
- You can select the denomination of the gold you wish to withdraw from the available options of coins.
- Each coin will have different making charges, based on the weight and design of the coin.
- You must confirm the transaction by paying the additional making and delivery charge.
- Your gold product will be delivered at your notified address by a logistics provider arranged by the Company, and you will receive a confirmation on your registered mobile number.
- You will receive a dispatch confirmation and the waybill number of the courier company which will allow you track your package online.
Once you place a delivery request, you have to accept the delivery made to you. Deferred delivery cannot be made at a later date.
Yes, you can opt to have your gold delivered at an address other than that mentioned at the time of registration. However, this may be subject to verification of address change, as per the norms established by the distributor.
Islamicly delivers across India, through partnerships with secure logistics providers. We maintain a list of serviceable pin codes, and prior to making any purchase you will be informed whether your pin code is serviceable for delivery. Depending on the Distributor platform however, you can still choose to have your gold delivered to an address that is different from the one entered at the time of registration. This may be subject to verification by our Partners.
Yes, you are required to pay a minting charge at the time of requesting for delivery. We deliver your gold to you in the form of assay certified coins, in tamper evident packaging, using secure logistics providers. The charge covers the cost of minting, packaging, insurance, assay certification and delivery to you. Since the purity of the coins is 99.99%, but the Islamicly 24K Real Gold is having 99.95% purity, there will be a purity enhancement charge as well at the time of taking delivery in gold coins/bars.
The delivery of your gold coins and bars is fully insured. We've partnered with the best delivery partners in the country to ensure your gold is in safe hands right from the locker to your home. To ensure the quality of the gold coin and bars delivered to you - we have our products independently assessed and Assay certified to ensure zero negative weight tolerance and promised purity.
