Digigold Intro
Hello everyone. You can invest in gold from a minimum of ₹100 through the Bodhisattva Digital app. The amount you can invest in that way will be credited as gold at that price, whatever the price of gold is on the date of the investment. I have heard that a bonus will also be added.
While listening to all this, many questions came to me saying Is this true? Can we believe it? Will we benefit from investing in this scheme by believing in it? Will we lose?. Until I find the answer to all those questions, I will share with you only the things that I know.
Benefits
Let’s first see what benefits are there in this app. Since this is an online app-based investment scheme, you don’t need to wait for someone to collect it every month. Whenever you have the amount, whenever you want to buy gold, you can buy gold from a minimum of ₹100. You can buy it as many times as you want in a day. The gold equivalent to the amount you buy will be added to your account at the gold price on the date of purchase.
digital gold Scheme
They have three schemes like this. Let’s take a look at the first Digigold scheme. The duration of this scheme is 11 months. A total of 330 days will come. You can make payments in the first 300 days. They will tell you that there is a waiting period of 30 days at the end.
During that waiting period, you will not be able to make any payment. After completing these 330 days, the scheme will mature. After that, you can exchange it for gold jewelry or cash that you have in your account. When you buy it, Bodhisattva’s showroom is located in this place. You can also go and buy it directly. Otherwise, they said that they also have a service for video shopping.
Bonus
They have split these 300 days into 75, 75. They have told you that you will get a bonus or extra bonus of 7% on the amount you invest in the first 75 days. For example, if you have added ₹10,000 in gold in the first 75 days, then you will get an extra bonus of ₹700 in gold in your account.
They have told you that you will get 5% for the next 75 days, 3% for the next 75 days, and 1% for the last 75 days. They have also told you that you will get free gifts depending on the total amount you have paid. They have also said that after you join this scheme and successfully complete 330 days, you can only convert the gold in your account into a single zilla or a single kaiina, and they will not give you cash.
Partial withdrawal
When you complete 330 days and go to redeem the gold in your account, it will be as if you have redeemed the entire gold in your account. There is no option to make partial withdrawals in small amounts, they have said. When you go to redeem the zilla, depending on the zilla you can redeem, value added charges such as wastage and stone charges will be applicable. You will also have to pay for this. In addition to this, it seems like you are the one paying the GST for the government.
DY Charges
If you buy coins, then you will have to pay DY Charges of 2% for coins weighing less than 8 grams and 1% for coins weighing more than 8 grams. GST will also be added to this.
This 11-month scheme is for 11 months only. It cannot be extended for any reason. After you successfully complete these 11 months, you will have to exchange the gold jewellery or cash in your account. If you want to continue this scheme after that, then it will be like joining the scheme for the next 11 months.
If you need money due to some situation during these 11 months, and you want to withdraw the money that is in this account, then there is a pre-closure option in this app. However, if you pre-close without completing these 11 months, then none of the gold that they have added as a bonus will come to your account. After deducting that bonus, they will only give you the gold that you have paid for the amount that you have in balance.
Then, they have said that on Akshaya Tritiya, whatever offer is there in the offline store of Bodhisattva for such special days, the same offer will be applicable to the users of this app. Whether you invest your money or redeem it, you will have to enter your ID proof and PAN card details, KYC is not required. You have created an ID with your name, completed all the KYC verification, and joined a scheme that may be there, but you cannot transfer it to someone else.
They have said that when you buy Jules through this scheme, you cannot customize it. Whatever you like from the existing collection, you can buy it as is. Apart from this, they have given two schemes called Swarna Subiksham and Swarna Vruksham. Swarna Subiksham is a monthly payment scheme. Swarna Vriksham is a one-time payment scheme.
Swarna Subiksham
As for Swarna Subiksham, it works like a normal monthly payment card. Here, you start with a minimum of 1000 and pay a fixed amount every month. The amount you can pay depends on the gold rate on the date, and you can choose to deposit gold. Otherwise, you can deposit your own amount in cash, and this scheme also provides an option for that.
If you have deposited cash, then when you go to redeem the gold you have under this scheme, they have said that they are giving a discount of up to 18% on the wastage, depending on the amount you have deposited. When it goes beyond that 18%, it will be like you paying the percentage of wastage that may be in the balance. Along with this, GST will also be added.
But that is, if you have deposited gold, then they have said that they are giving a discount of 50% on the wastage up to 18% of the wastage. After that 18% is exceeded, you will be paying the entire remaining percentage. Along with this, GST will also be added.
Swarna Viruksham
Swarna Viruksham is like I already mentioned, a one-time payment plan. In this plan, you can deposit a certain amount of money and exchange it for a coin or a jewel after 7 months. When you exchange it, depending on the amount you exchange, they say they give a certain percentage discount on the value added charges, such as wastage and stone charges.
Refer and Earn
After you join any of these schemes, have you told your friends or acquaintances about this scheme and have them also joined any of these schemes? If so, then they have told you that ₹20 worth of gold will be added to your account for both of them. There is no limit to earning by referring like this.
If you have asked which of these three schemes can I join, which scheme will give me the most profit, if you have a large amount, then you can go for the golden tree. No, I don’t have that much amount, if you asked me if I want a kind of jewelry card that pays a specific amount every month, then you have gold benefits for that. I can’t take a monthly amount, I can put a little amount whenever I feel like it, so there is digital gold.
Is It Worth
No matter which scheme you join in this scheme, you will get almost the same benefits. What are you talking about without understanding, if you asked me that there is an extra bonus only for digital gold, then there is no big bonus for it. If you bought gold now, spent it for one year, and checked its value, then its value would have increased a little.
They only give you the appreciation of gold that may have increased like this. That is, they tell you that the appreciation of your gold is the bonus. If you ask them to tell you that when the price increases by that much in a year, then see for yourself how much it increases year after year. They give us a bonus only for the percentage that can increase like this, the percentage that is missing.
If you ask them why they give a higher bonus in the first 75 days, then it is because you invest more money in the first 75 days. If you check the value of the gold that you could have invested in the first 75 days, then its value will be somewhere. They also know that this kind of increase is happening. That is why they give you an easy 7% bonus.
They give it like that and take all the remaining percentage as their profit. No matter how much the price of gold increases, they give us a fixed percentage as a bonus and take all the remaining percentage as their profit. Not only that, but since they have given us a model where we cannot make any payment in the last 30 days, they have time for the price of gold to increase in those 30 days.
This is the same with all the apps that can be called digital gold. They give us the appreciation of the gold we could have bought by saying it is a bonus. They give it like that and then claim the wastage, making charges, whatever and everything, and then suck it all away.
Otherwise, they will not give any appreciation for the gold we could have bought, and will say that there is no wastage or making charges. No matter how you look at it, this is more for their profit. You asked what is the profit for us, then there is only one profit for us. That is, those who cannot prepare a total amount of 1 gram or 2 grams can use this kind of app and invest in gold little by little. This is the only benefit that this kind of app can have.
If you are thinking of buying gold for investment purposes, it is a long-term investment. When you buy it through this kind of app, buy as much as you can. Let there be this kind of seed fund, let there be an app, when people hear about all this, will our money be safe? Such a cost will come to them.
Safety
If you ask what safety they have given for that, the only safety here is trust. They have said that the Bothees brand has been around since 1935. If you have faith in the Bothees brand, invest in this app only.
Even with all these things, I will give my opinion. Through this kind of digital gold app, you can invest in gold from a small amount, using a smartphone.
My Opinion
Since there are options like this, you do not need to buy gold by putting in a whole amount. When you have an amount, you can invest in gold even in a small amount. This is not the only use of this app, but if you look at it from an investment perspective, then there are many better options than this. Find out about all of them. Compare what works best, and invest in what you think is best.