Need Suggestions on buying Gold Coin from Amazon using Credit Card

[shashwatchadha]

Hello, I am new here. I wanted to know the best way to buy Gold coins worth Rs 500000 . I am already buying gold coin every month using Myntra gift voucher from smart buy using infinia.
Does it make sense to get Axis Magnus Burgundy for this ?

 

[helloworld]

yes, u have money can utilize m4b benefits well. go for it, recommended.

 

[S9100]

Hello, I am new here. I wanted to know the best way to buy Gold coins worth Rs 500000 . I am already buying gold coin every month using Myntra gift voucher from smart buy using infinia.
Does it make sense to get Axis Magnus Burgundy for this ?

It makes sense. Not just Myntra, Ajio, FK, AMZ

 

[Jkt]

u will take months to collect 5 lakh voucher for Amazon!

 

[magnusfan]

Imo, the best method to get gold appreciation is via SGB, especially since it comes with the tax benefits...

 

[shashwatchadha]

Imo, the best method to get gold appreciation is via SGB, especially since it comes with the tax benefits...

SGBs were last issued in Feb 2024. Govt is no longer issuing these now.

 

[magnusfan]

SGBs were last issued in Feb 2024. Govt is no longer issuing these now.

Can be purchased using your dmat account.. many available at a discount

 

[sumeet]

Try from tata neu with 5% back & use infinity or cashback for further 5%

 

[ccdc]

Hello, I am new here. I wanted to know the best way to buy Gold coins worth Rs 500000 . I am already buying gold coin every month using Myntra gift voucher from smart buy using infinia.
Does it make sense to get Axis Magnus Burgundy for this ?

can we buy gold from myntra using gv bought from smartbuy???

 

[Dazzwilliams]

Can be purchased using your dmat account.. many available at a discount

SGB From where? Can you dm detailed steps to purchase?

 

[ccdc]

sgb closed now i think....

 

[knight]

Try from tata neu with 5% back & use infinity or cashback for further 5%

what's the cap on earning neucoins for TataCliq transactions?


And cap on neucoins on Myntra gift vouchers from TataNeu?

 

[magnusfan]

But

SGB From where? Can you dm detailed steps to purchase?

buy like a stock

 

[shashwatchadha]

Try from tata neu with 5% back & use infinity or cashback for further 5%

thanks will try

 

[shashwatchadha]

can we buy gold from myntra using gv bought from smartbuy???

Yes. Myntra amazon Nyka tata cliq. You can also buy gold coin voucher of Kalyan and tanishq from amazon using gv and redeem them at store

 

[shashwatchadha]

But

buy like a stock

View attachment 81437

But this won’t be tax free right? Also, Will it fetch that 2.5% interest?

 

[magnusfan]

But this won’t be tax free right? Also, Will it fetch that 2.5% interest?

In my opinion, if it's redeemed on maturity, no tax. If it's sold, tax is applicable depending upon holding period (long term or short term)

Interest will be surely fetched - which is ofcourse taxable... interest will be paid on original bond value and not your purchase price!

 

[ccdc]

i think these are sgb sold in the secondary mkt at premium...check everything and then buy...

 

[magnusfan]

i think these are sgb sold in the secondary mkt at premium...check everything and then buy...

Not necessary, if you carefully evaluate, u will get many at a discount since the volume in this market is low..so, if u r buying, hold till maturity!

 

[shashwatchadha]

My take here was- If I am planning a trip and need to book Accor property usitng axis rewards, I can buy gold coin and then sell it. It would atleast save me 5-7 %.