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How To Convert E-Gold Into Physical Gold


E-gold investments are the same as physical gold. These investments in e-gold are usually regulated under the guidelines of NSEL (National Spot Exchange). The buyer purchases e-gold in Demat format, and then deposits it into the account of the beneficiary at NSEL in the name of the person who purchased it. These accounts are Demat accounts that have single or joint holdings. To convert digital gold to physical gold the investors can benefit from these beneficiary accounts, which are also known as Demat accounts to conduct e-gold trade.

How to convert egold into physical gold
There is a way to convert egold into gold with a method that is systematic. 1gram is the minimum amount of e-gold which can be converted to physical gold. Here is a systematic reference on how to convert digital gold to physical gold ;

Depository Participant: Depository Participant manages the electronic gold. Before making a request to NSEL to convert e-gold into physical gold, the buyer will have to hand over the e-gold to the participant in depository with a delivery instruction slip (DIS). These documents are available free of charge on the NSEL website.

SRF: SRF stands for Surrender Request Form. Any investor who wants to convert their Demat units into convert digi gold to physical gold gold has to send an SRF to National Spot Exchange (NSEL) asking for the exchange of Demat units into physical gold. SRF also asks the investor to specify the physical gold denominations to be delivered. E-gold is able to be converted into physical gold in the following amounts such as 8 grams, 10g, 100g, 1000g, and 1000g.

TRF: After the participant in the depository has submitted an electronic gold certificate to NSEL acknowledgement certificate along with a Transfer Request Form and an instruction slip for delivery are sent to NSEL. The investor will then specify the physical gold center of delivery.

Nominal charges: Once Delivery Instruction Slip (DIS) and the Surrender Request Form (SRF) is submitted the NSEL in charge starts computing additional charges like packaging, delivery charges VAT, packaging. The charges are then added to the total amount and is sent to the investor via email. The investor will need to present an official cheque in the name of "National Spot Exchange Ltd."

Physical gold delivery The physical gold that is stored in vaults at NSEL is insured and secured. However, these vaults are only available in certain areas of the nation. The authorized NSEL centers are located in Ahmedabad and Bangalore. Investors are able to specify which one they prefer for physical gold delivery when filling out forms. Investors can pick up physical gold at the center following the 7th day but before 15 days from the date of submission of the request. If the investor is unable to pick up the physical gold from the center, they must be charged storage fees as an additional penalty.
The procedure for physically delivering E-gold
DIS is delivered to the participant in depository together with SRF.
The depository participant credit the NSEL account with the digital gold mentioned in the form.
The depositary then signs the TRF and hands over the documents (DIS, SRF and TRF) to the investor.
The investor has to submit these documents to NSEL and specify the center of delivery.
NSEL determines the invoice which includes all additional charges and taxes.
The investor is expected to receive an invoice and the amount by email to the email address listed in the documents.
The investor must pay in accordance with NSEL guidelines.
Investors are able to collect physical gold at the center designated between the 7th and 15th of the days.
Following ID confirmation by the NSEL authorities The physical gold will then be delivered to the investor.
Website: https://www.augmont.com/jewellery-exchange