FAQs on Gold Coins
Is Karur Vysya Bank (KVB) authorised to deal in silver/bullion business ?
Yes, Karur Vysya Bank has RBI approval to retail silver/bullion to its customers.
In what shapes Silver is being sold by KVB?
KVB Pure Silver bars will be sold in the form of rectangular bars.
In what weight are the silver bars available?
KVB Pure Silver bars are currently available in 50 gm and 100 gm denominations.
What is the purity of Silver bars sold by KVB?
KVB Pure Silver bars are of 24 karat, 999.9 purity silver.
Yes, the Silver 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 Silver Bars 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 Silver bars sold by the Bank come with an "Assay Certification" indicating the highest quality of silver at 999.9 purity as per international standards.
Both KVB customers and non-customers are eligible to buy silver.
What is the price at which the silver will be sold at?
The price will depend upon the market rate of silver. 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 Silver bars and above (irrespective of the purchasers being our existing customers or 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 silver sold by them?
KVB does not buy back the silver sold by them.
How can one buy silver through a Branch?
One can buy silver through any select Karur Vysya Bank branch by following these simple steps:
- Visit the select Bank's Branch and fill the simple application form.
- Mention the weight and quantity of the silver bars required and the mode of payment.
- Submit the Silver Bar application form along with the cash / debit instructions /cheque from the accounts maintained with us.
- Branch will accept and process your requirement and deliver the Silver Bars 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 Silver bars?
No documents are required for the purchase of Silver bars with value less than Rs.20,000. For purchase of Silver 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.
- 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.
- Silver bars in 999.9% purity of 24 karat with assay certificate signifying the highest level of purity.
- Tamperproof packaging.
- Special discounts for bulk orders.
- Customized design / Embossing as per the requirement