No guarantee of purchase value
SMG does not guarantee that you will receive the amount you originally paid, or any minimum amount. You receive the buyback rate applicable when you accept a quote. GST paid on purchase is not refunded on sell-back.
Eligibility
You may sell gold that is fully allocated to your account and not subject to any hold, such as an open dispute, an unauthorised-payment investigation, a legal or regulatory restriction, or incomplete KYC or bank verification.
Grams
You may sell all or part of your eligible holding, subject to any minimum sell quantity shown in the app.
Rate determination
The buyback rate per gram is set by SMG with reference to the same disclosed rate source used for purchases, less SMG's spread. It is shown with a timestamp.
Spread
The buyback rate is lower than the purchase rate at the same moment. The difference is disclosed on the rate card and in each quote.
Quote expiry
A buyback quote is valid only for the time shown. If it expires, you will need a new quote at the then-current rate.
Acceptance
You accept a quote by confirming it in the app within its validity window. Once accepted, the sell-back is binding on both you and SMG at that price.
Title transfer
On acceptance, title to the grams sold passes to SMG and they are removed from your holdings. You become entitled to the net payout shown in the quote.
Verified bank payout
Payouts are made only to an Indian bank account in your own name that has been verified on your account. SMG does not pay out in cash, to third parties or to wallets.
Payout timing
Indicative timeline: To be published. Payouts may take longer because of bank holidays, banking-system issues or required checks.
Payout failures
If a payout is rejected by the receiving bank, the amount remains payable to you. We will notify you and re-attempt the payout once you have verified a valid account. The sale is not reversed and the gold is not returned to your holdings.
Fraud and compliance checks
We may carry out identity, bank-account and transaction checks before releasing a payout, and may delay or withhold a payout where required by law or where we reasonably suspect fraud, with notice to you where the law allows. We do not disclose the specific thresholds or rules used.
Taxes
Gains on the sale of gold may be subject to income tax. SMG does not provide tax advice. Any deduction required by law will be shown in the quote and payout advice.
Disputes
If you believe a sell-back or payout was processed incorrectly, contact support and, if unresolved, follow the grievance redressal process. Your statutory rights are not affected.