FAQs on Gold Coins
Is Karur Vysya Bank (KVB) authorised to deal in gold/bullion business?
Yes, Karur Vysya Bank has RBI approval to retail gold/bullion to its customers.
How does KVB sell gold coins / bars?
KVB sells gold coins / bars through 304 branches across the country covering all major cities and towns. However, purchase requests can also be routed through the nearest branch in the same location.
In what shapes gold is being sold by KVB?
Gold is sold in the form of round shaped coins and rectangular bars.
What are the denominations of gold coins / bars being sold by KVB?
At present the coins are available in 4 gm, 8 gm, 10 gm (round shaped coins) and 20 gm, 50 gm and 100 gm denominations.(ingots / rectangular bars)
What is the purity of gold coins / bars sold by KVB?
KVB Pure Gold coins / bars are of 24 carat pure gold of 999.9 purity.
Is gold imported?
Yes, the gold is made by PAMP Refinery Switzerland and imported from there. PAMP is one of the most reputed and known refineries.
What is the authenticity proof?
KVB Pure Gold Coins are packed in tamper - proof certicard packs that are see through at the manufacturing stage itself to prevent any damage / theft during transit. Moreover, the gold Coins sold by the Bank come with an "Assay Certification" indicating the highest quality of gold at 999.9 purity as per international standards.
Who can buy the gold?
Both KVB customers and non-customers are eligible to buy gold.
What is the price that the gold will be sold at?
The price will depend upon the market rate of gold. The price is exclusive of Value Added Tax/Sales tax.
Is there any discount on bulk purchases?
A discount of 1% will be allowed to all bulk purchasers of 10 coins and above (it can be a mix of different denominations) irrespective of the purchasers being our existing customers and non customers in the normal course of business. Whenever special offers are launched like Diwali Special Discount Offer, either one of the normal or special discount offer can be availed but not both.
Will KVB buy back the gold sold by them?
KVB does not buy the gold sold by them. You can sell it to any jeweller.
How can one buy gold through a Branch?
One can buy gold through any select Karur Vysya Bank branch by following these simple steps
Branch will accept and process your requirement and deliver the gold coins along with the Invoice to you.
Can I make a payment by issuing a third party cheque in favour of KVB?
No. Currently this facility of paying through a third party cheque is not available.
What documents are required for the purchase of Gold coins / bars?
No documents are required for the purchase of Gold coins with value less than Rs. 20,000. For purchase of Gold coins/bars from Rs. 20,000 to less than Rs. 50,000, an Identity proof (such as copy of Driving license, PAN Card, Passport, Voter ID, an Identity card subject to Bank’s satisfaction, Letter from recognized Public Authority or public servant verifying the residence and identity of the person to the satisfaction of the bank) would be required. If the transaction value is equal to or more than Rs. 50,000, PAN card copy and an Identity proof of the purchaser would be required.
What are the advantages of purchasing gold coins / bars from KVB?
- Available at a very competitive rate.
- Quality assurance and the backing of KVB, one of the leading Private Sector Banks in India for over 94 years.
- Coins in 999.9% purity with assay certificate signifying the highest level of purity.
- Tamperproof packaging.
- Special discounts for bulk orders.
- Customized design / Embossing as per the requirement