Last update 20/03/2023
By registering on GoldPe, You represent that you are -
1. An Indian Resident having a valid GoldPe account.
2. A natural or legal person above 18 years of age or older within the meaning of Indian Contract Act 1872.
3. You can enter into a legally binding agreement.
5. You are not barred or otherwise legally prohibited from accessing or using services of GoldPe or GoldPe Entities under the laws of India.
6. You represent that you are currently not a Politically Exposed Person (“PEP”) as defined by RBI.You shall not impersonate any person or entity, or falsely state your age or affiliation with any person or entity. GoldPe shall reserve the right to terminate your contract to use GoldPe account in case of any incorrect representation of the conditions mentioned herein.You agree and undertake to immediately notify GoldPe in circumstances where your PEP status changes, or you become related to a PEP. You should promptly notify GoldPe in writing to ensure that appropriate steps are taken in accordance with applicable laws and GoldPe's policy . You further understand that as a PEP you will be subject to additional customer due diligence requirements as determined by the regulators. As a PEP you hereby agree to fully comply with all the aforesaid additional customer due diligence requirements as well as cooperate with GoldPe to complete all continuing compliance requirements applicable to a PEP as will be notified to you by GoldPe to ensure uninterrupted use of your GoldPe account. Issuance of GoldPe's co-branded PPI might be subject to additional due diligence, which may include but not limited to reviewing and validating the credential provided by You as part of the GoldPe account application, internally or using other Business Partners / Service Providers, Sanctions Check as notified by regulators, Our risk management process and GoldPe shall have discretion and sole right to issue GoldPe account to You. Hence, by merely sharing the required data may not entitle creation of Your GoldPe account.
You acknowledge that the Platform is a web/app service that allows You to avail the services directly from the Company including their products and services. The Company hereby grants You, a limited, non-exclusive, non-transferable, royalty free licence to use the Platform for the purposes of availing the services from GoldPe, collectively hereinafter referred to as (the “Platform Services”).
We allow you to save and invest in third-party financial products listed on the GoldPe’s platform, and give you such features that help you keep track of your savings and investments. For every saving or investment you make, we incentivise users by giving them free entry to games hosted on the GoldPe Platform. Our services are elaborately covered in these Terms.
As part of the Platform Services provided to You, after availing such services, You agree to provide honest feedback/review about the concerned Platform Service, if required by the Company. In case of any dissatisfaction with the Platform Services, You shall first file a formal complaint with the customer service of the Company, as may be applicable, prior to pursuing any other recourse. The complaints can be lodged at email@example.com and upon lodging a complaint You agree to provide complete support to the customer service team with such reasonable information as may be sought by them from You. The decision of the Company, as may be applicable, on the complaints shall be final and You agree to be bound by the same.
Use of the Platform
B. in accordance with any applicable law, regulation or generally accepted practices or guidelines.You agree that You shall not copy, reproduce, sell, redistribute, publish, enter into a database, display, perform, modify, alter, transmit, licence, create derivatives from, transfer or in any way exploit any part of any information, content, materials, services available from or through the Platform, except that You may download the Platform for Your own personal, internal use and non-commercial use. You agree that You will not use the Platform in any manner or engage in any activity that may damage, disable or impair or adversely affect the use of the Platform or interfere with any other users’ use, legal rights, or enjoyment of the Platform. Further, You agree not to remove any text, copyright or other proprietary notices contained in the content downloaded from the Platform. Further,
C. You undertake not to:
• defame, abuse, harass, threaten or otherwise violate the legal rights of others;
• publish, post, upload, distribute or disseminate any inappropriate, profane, defamatory, infringing, obscene, indecent or unlawful topic, name, material or information;
• copy, republish, post, display, translate, transmit, reproduce or distribute any content on the Platform through any medium without obtaining the necessary authorization from the Company;
• conduct or forward surveys, contests, pyramid schemes or chain letters;
• upload or distribute files that contain software or other material protected by applicable intellectual property laws unless You own or control the rights thereto or have received all necessary consents;
• upload or distribute files that contain viruses, corrupted files, or any other similar software or programs that may damage the operation of the Platform or another’s computer;
• engage in any activity that interferes with or disrupts access to the Platform (or the servers and networks which are connected to the Platform);
• attempt to gain unauthorized access to any portion or feature of the Platform, any other systems or networks connected to the Platform, to any of the Company’s server, or through the Platform, by hacking, password mining or any other illegitimate means;
• probe, scan or test the vulnerability of the Platform or any network connected to the Platform, nor breach the security or authentication measures on the Platform or any network connected to the Platform. You may not reverse look-up, trace or seek to trace any information on any other User, of or visitor to, the Platform, to its source, or exploit the Platform or information made available or offered by or through the Platform, in any way whether or not the purpose is to reveal any information, including but not limited to personal identification information, other than Your own information, as provided on the Platform;
• disrupt or interfere with the security of, or otherwise cause harm to, the Platform, systems resources, accounts, passwords, servers or networks connected to or accessible through the Platform or any affiliated or linked sites;
• collect or store data about other Users in connection with the prohibited conduct and activities;
• use any device or software to interfere or attempt to interfere with the proper working of the Platform or any transaction being conducted on the Platform, or with any other person’s use of the Platform;
• falsify or delete any author attributions, legal or other proper notices or proprietary designations or labels of the origin or source of software or other material contained in a file that is uploaded;
• violate any applicable laws or regulations for the time being in force within or outside India or anyone’s right to privacy or personality;
• and reverse engineer, modify, copy, distribute, transmit, display, perform, reproduce, publish, license, create derivative works from, transfer, or sell any information or software obtained from the Platform.
• GoldPe reserves the right to pull back rewards from a user's account (pre or post redemption) in case of suspicious or fraudulent activities as detected by GoldPe from time to time without any notice/intimation.
You shall be responsible for the documents/information and declarations provided to GoldPe about Yourself, Your residency and tax status, information about PEP and other material information including but not limited to Your KYC documents. GoldPe shall not be liable for incorrect documents/information and declarations and retains the right to refuse activation and right to deactivate of Your GoldPe account and report such incident to Legal Enforcement Agencies (LEAs) and the regulator(s) as per extant directives.
We may review the data/information provided by you and undertake appropriate due-diligence, including risk management before issuing GoldPe account as per the extant regulatory directives issued by RBI or any other regulator, such as RBI’s Know Your Customer (“KYC”), Prevention of Money Laundering Act (“PMLA”), RBI’s directives on PPI issuance and operation and other directives that are notified by the regulator from time to time and applicable to GoldPe account. We may also fetch data from other sources available in public or through our business partners or service providers which may pertain to You as part of due diligence and risk management.
We may monitor Your transaction(s) for probable high-risk/fraud transactions. Basis our continuous transaction monitoring, We may place a hold on the Transaction, block or reject transaction and may also temporarily block you GoldPe account and ask You for more information on You and Your funding source before releasing / reinstating Your account/transaction. You shall also note that, Your account could also be temporarily or permanently blocked basis abuse against any employee, company, or incorrect declaration by any customer or merchant and We shall not be liable for any loss caused to You due to this while we investigate Your account.
While, the continued availability of the GoldPe account shall be subject to the requirements under law, regulations or directions, GoldPe reserves the right to suspend/discontinue services at any time, for any cause, including, but not limited, to the following-
For any suspected violation of the rules, regulations, orders, directions, notifications issued by RBI from time to time or for any violation of any GoldPe Terms;any suspected discrepancy in Your particular(s), KYC documentation or information provided by the You; orto combat potential fraud, sabotage, willful destruction, threat to national security or for any other force majeure event; orGoldPe in its sole opinion and discretion believes that cessation/ suspension of Your GoldPe account is necessary for any other legitimate purpose.
Prohibited use of Digital Gold, User Conduct and Responsibilities
1. You shall not impersonate any person or entity, falsely claim or otherwise misrepresent an affiliation with any person or entity, or access the accounts of others without permission, forge another person’s digital signatures or perform any other fraudulent activity.
2. You shall not use the account to defraud GoldPe, our affiliates or other members or users, or engage in other unlawful activities (including without limitation dealing in products or services prohibited by law).
3. You shall not purchase anything (products or services) using fraudulent funds and shall not use the digital gold for money laundering, tax evasion or any other illegal activities.
4. You shall not use the GoldPe account in a manner that may result in complaints, disputes, imposition of fines, penalties, chargebacks or any other liability to GoldPe;
5. You shall apply appropriate due-diligence while transacting using Your GoldPe account as in case any amount is transferred erroneously by You to any Merchant or any other person, GoldPe shall not be liable to refund such amount to You under any circumstances.
6. Any web-link on the website to a third-party site is not an endorsement of that web-link. By using or browsing any such other web-link, you shall be subject to the terms and conditions in each such web-link and You should review such terms and conditions before using such website/application.
7. GoldPe shall send all customer communications by SMS/ email/ notification or any other communicating mode and they shall be deemed to have been received by You after they have been submitted for delivery to the SMS/email service providers.
8. You are required to review all such communication and report back to Us in case of any concern or query.You agree to receive all transactional and promotional messages from GoldPe/ GoldPe merchant partners. However, in case You do not want to receive promotional messages, You shall Opt-Out from by expressing Your consent on the Opt-Out option provided as part of such emails or via any other medium made available to You by GoldPe.
9. You shall use the account in good faith and in compliance with all applicable laws and regulations and be solely responsible for payment of any taxes, duties or other governmental levies or any financial charges that may be imposed on any products or services purchased or supplied by a merchant or otherwise arising from transactions.
10. You shall ensure that the GoldPe account is not used for Transactions in foreign currency. GoldPe account is issued & shall be valid only in India and shall be used in India only.
11. You agree and understand that when you acquire goods or any other services from a Merchant platform through GoldPe Services, we are not a party to the contract between you and the Merchant. We do not endorse any advertiser or Merchant linked to its website or app. Furthermore, we are under no obligation to monitor the Merchant's service used by you; the Merchant alone will be responsible for all obligations under the contract including (without limitation) warranties or guarantees. Any dispute with or complaint against any Merchant must be directly resolved by the User with the Merchant. It is clarified that We shall not be responsible or liable for any deficiency in goods and/or services purchased using GoldPe Services. You are instructed to satisfy yourself regarding the quality, quantity and fitness of any good and/or service before purchasing the same.
12. You shall be solely responsible for maintaining the confidentiality of your password and Login ID that allows you to access the Website/App. You shall be responsible for all activities that occur through your account or password/MPIN.
13. You agree to notify GoldPe immediately of any unauthorized use of your account or any other breach of security. Fold shall not be liable for any unauthorized use or access of your account.
By making use of the Website, and furnishing your personal/contact details, You hereby agree that you are interested in the services, offers, campaigns etc. that GoldPe or any other third party may offer/provide/share/send to you from time to time through any means including but not limited to telephone, SMS (short messaging service), electronic mail (e-mail), Whatsapp or any other messaging service/mobile application or any other physical, electronic or digital means/mode.
You specifically understand and agree that by using the Website you authorize GoldPe, its affiliates, partners and third parties to contact you for any follow up calls in relation to the services provided through the Website and for offering or inviting your interest in availing any other product or service offered by Fold or such third parties. You agree and consent to receive communications relating to all of the above on your phone/mobile number provided by you on the Website and expressly waive any registration or preference made under DND/NCPR list under the applicable TRAI regulations.
You will indemnify and hold harmless GoldPe and the SMS/e-mail service provider including its officials from any damages, claims, demands, proceedings, losses, costs, charges and expenses whatsoever including legal charges and attorney’s fees which GoldPe or the SMS/e-mail service provider may at any time incur, sustain, suffer or be subjected to as a consequence of, or arising out of, any of the following:misuse by You; or improper or fraudulent information provided by You; or incorrect number or a number that belongs to an unrelated third party provided by You.
You agree and authorize GoldPe to share your information, with its group companies, vendors, service providers of GoldPe and other third parties, in so far as required for marketing purposes/offering various products and services and/or to provide you with various value-added services, in association with the services selected by you or generally otherwise.
You agree to receive communications through e-mails, telephone and/or SMS, from Fold or third parties. You also agree that GoldPe reserves the right to make your details available to its partner banks/financial institutions, vendors, service providers, business partners, agents or any other third party and that you may be contacted by such partners and/or the third party for information through email, telephone and/or SMS.
Third Party Services
For providing You with services, GoldPe may use third-party products or services to you within the Website or redirect you to such third-party applications and websites. In order to use these third-party products or services, you may need to accept additional terms and conditions and meet additional requirements as specified by such third parties. Any redirection to a third-party page shall be governed by their terms and conditions and Fold will not be responsible for the same.
You acknowledge and agree that GoldPe shall not be responsible or liable, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with use of or reliance on any such content, goods or services available on or through any such site or resource.
Your interaction with any third party accessed through the Website is at your own risk, and GoldPe will have no liability with respect to the acts, omissions, errors, representations, warranties, breaches or negligence of any such third parties or for any personal injuries, death, property damage, or other damages or expenses resulting from your interactions with the third parties.
Deposit of funds
To save or invest in any financial product, you can use the different payment modes (like UPI and IMPS) available on the GoldPe Platform.Any amount you transfer using the GoldPe Platform will go to the respective bank account of our partner Gold Supplier, either directly or through payment intermediaries.
Withdrawal of funds
Subject to KYC verification and the terms of our partner Gold Supplier (as applicable), you can redeem your investment at any time using the GoldPe Platform.
As soon as you make a withdrawal request on the GoldPe Platform, we pass on that instruction to our Gold Supplier who will then deposit the amount in your registered bank account within 2 (two) business days.
Acceptance to partner terms
Intellectual Property Rights
The Platform and all information, content, materials, products including, but not limited to text, content, photographs, graphics, texts, video and audio content and computer code (“Content”) on the Platform is owned and controlled by the Company and the design, structure, selection and feel and arrangement of the Content is protected by copyright, patent and trademark laws and other various intellectual property rights either in the favour of the Company or third parties from whom the appropriate permissions have been taken under applicable laws. The trademarks, logos and service marks displayed on the Platform (“Marks”) are the property of the Company and its affiliates or other respective third parties, as the case may be. You are not permitted to use the Marks without the express prior written consent of the Company or the third party that owns the Marks.
Further, You understand and accept that all information, except Your personal information and other data submitted by You for the purposes of transacting on the Platform, through the Platform shall be deemed the property of the Company, and the Company shall be free to use any ideas, concepts, know-how or techniques provided by You on the Platform, in any manner whatsoever. On initiating a contact or query through the Platform, You agree to be contacted by the Company or any other entities with whom the Company has entered into an arrangement for the provisions of Services to You.
Disclaimer of Warranties, Indemnification and Limitation of Liability
By listing any financial product on the GoldPe Platform, we do not make any representation, warranty, or guarantee regarding the quality, nature, or bona-fides of gold accumulation plans (offered by the Gold Supplier), including the security and rate of returns promised by them.
You agree that our services do not constitute an investment advice and you are solely responsible for your investment decisions. In case you suffer any loss or damage by investing in a gold accumulation plan listed on the GoldPe Platform, we disclaim all liabilities.
The information in relation to gold accumulation plans (including their current and live rates) are received from our partner Gold Supplier directly. The GoldPe Platform displays this information on an “as is” basis and is not, in any manner, responsible for the accuracy or completeness of such information either at the time of purchase or redemption.
The funds you transfer or request to withdraw using the GoldPe Platform are processed by your bank, our partner Gold Supplier, and their respective banks and payment intermediaries. We are not responsible in case there is a delay in the transfer of funds or in delivering the financial product you subscribed for.
We share your information and documents to our partner Gold Suppliers through secure channels. However, in case of unauthorized access or any security breach, we assume no liability or responsibility for the disclosure of your information or documents to third-parties.
You expressly understand and agree that, to the maximum extent permitted by applicable law, the Platform and other Content are provided by the Company on an “as is” basis without warranty of any kind, express, implied, statutory or otherwise, including the implied warranties of title, non-infringement, merchantability or fitness for a particular purpose. Without limiting the foregoing, the Company makes no warranty that –
(i) the Platform or Platform Services will meet Your requirements or Your use of the Platform will be uninterrupted, timely, secure or error-free;
(ii) the results that may be obtained from the use of the Platform will be effective, accurate or reliable;
The Company will have no liability related to any user Content arising under intellectual property rights, libel, privacy, publicity, obscenity or other laws. The Company also disclaims all liability with respect to the misuse, loss, modification or unavailability of any user Content. Further, the Company will not be liable for any loss that You may incur as a consequence of unauthorized use of Your Account or Account information in connection with the Platform or the Platform Services either with or without your knowledge.
The Company and its affiliates have endeavoured to ensure that all the information on the Platform is correct, but the Company and/ or its affiliates neither warrants nor makes any representations regarding the quality, accuracy or completeness of any data, information regarding the Platform Services or otherwise. The Company shall not be responsible for the delay or inability to use the Platform or related functionalities, the provision of or failure to provide functionalities, or for any information, software, functionalities and related graphics obtained through the Platform, or otherwise arising out of the use of the Platform, whether based on contract, tort, negligence, strict liability or otherwise. Further, the Company shall not be held responsible for non-availability of the Platform during periodic maintenance operations or any unplanned suspension of access to the Platform that may occur due to technical reasons or for any reason beyond the Company’s control. You understand and agree that any material or data downloaded or otherwise obtained through the Platform is done entirely at Your own discretion and risk, and that You will be solely responsible for any damage to Your computer systems or loss of data that results from the download of such material or data.
You acknowledge that the software and hardware underlying the Platform as well as other internet related software which are required for accessing the Platform are the legal property of the respective vendors. The permission given by the Company to access the Platform will not convey any proprietary or ownership rights in the above software/hardware to You.
Please note that not all the Platform Services are available in all geographical areas and depending on Your location, You may not be eligible to avail certain Platform Services offered by the Company as the case may be. The Company reserve the absolute right to determine the availability and eligibility for any of the Platform Service offered on the Platform.
Further, You will not dispute responsible for:
(ii) any disclosures made by Company to any statutory body under any law; and
You warrant that all the details and information provided by You to the Company while using this Platform (including for the purposes of carrying out investments) are correct, accurate and genuine. You further warrant that providing such details and information on the Platform or sharing of the aforesaid details/information shall not violate any third – party rights or the intellectual property right of any third party.
Eligibility to Use
1. You are of 18 (eighteen) years of age or older
2. You are of legal age to form a binding contract, are not a person barred from receiving the Platform Services under the applicable laws and are competent to enter into a binding contract. The Company reserves the right to refuse access to the Platform to new Users and any such user who has been suspended or removed by the Company for any reason whatsoever shall not been entitled to avail the Platform Services; and
4. the money You invest is from Your bank account (primary holder’s bank account in case of Investment Account held jointly), and the same is from legitimate sources and remitted through approved banking channels;
5. You are prohibited from selling, trading, or otherwise transferring Your Account to another party or impersonating any other person for the purposing of creating an account with the Platform.
Games and Contests
We reward you with in-game coins/tickets/token/etc. when you save and invest. These coins will help you to play GoldPe Games where you can win Rewards. Read the Game Rules carefully and make sure your state allows such participation.
Nature of games and contests: We offer promotional games and contests on the GoldPe Platform to incentivise users and motivate them to save and invest (GoldPe Games”). All GoldPe Games are provided by us on an “as is” basis with no guarantee or warranty of continuity. We may choose to modify, replace, abandon, or add any GoldPe Game on the platform at our discretion.
Entry to GoldPe Games: For every saving and investment made through the GoldPe Platform, we will offer you a free entry to GoldPe Games hosted on the GoldPe Platform. We also give you a free entry to the GoldPe Games when you refer someone to the GoldPe Platform in accordance with Referrals. We do not allow users to pay any money or similar consideration to participate in the GoldPe Games.
Contest rules: Each GoldPe Game is governed by its own rules, instructions, and reward conditions (“Game Rules”). The Game Rules for each GoldPe Game will appear as a link or be displayed on the GoldPe Platform. Read these Game Rules before participating in GoldPe Games. We retain the right to modify these Game Rules at any time.
Rewards: In line with the Game Rules, if you win at any GoldPe Game, we will either reward you with cash rewards, discounts, offers, deals, or third-party goods and services (“Rewards”). The nature and timeline to disburse the Rewards is at the sole discretion of the Company.
Geographical restrictions: We may notify, at any point, that users from a particular state or jurisdiction are not eligible to access or participate in some or all the GoldPe Games.
Disclaimer: None of the GoldPe Games are offered to users for money, and hence they do not qualify as “gambling” under Indian law.
In case any GoldPe Game is restricted or prohibited in your state, you are responsible to notify us and avoid participation in such GoldPe Game.
The disbursal of Rewards is at our complete discretion. You do not have any claim or right over any Reward declared by us until it is deposited in your account.
We will make deductions under applicable law before disbursing any Reward to you. We are not responsible for any tax implications on you from your participation in the GoldPe Games or any Rewards we disburse to you. You must obtain an independent tax advice before entering into a GoldPe Game or receiving any Reward from us.
User Account, Password and Security
In order to access the Platform Services on the Platform and Your account on the Platform (“Account”), You will have to register on the Platform by providing details including but not limited to mobile number, email address, password, date of birth, gender, Permanent Account Number (PAN), etc. and other information as may be required by the Company from time to time. You will be responsible for maintaining the confidentiality of the Account information and are fully responsible for all activities that occur under Your Account and also agree to keep your login credentials safe and confidential at all times. You further agree to promptly change your login credentials and inform the Company immediately in case of any actual or suspected unauthorized use of Your Account. The Company cannot and will not be liable for any loss or damage arising from Your failure to comply with this provision. You may be held liable for losses incurred by the Company or any other user of or visitor to the Platform due to authorized or unauthorized use of Your Account as a result of Your failure in keeping Your Account information secure and confidential.
Suspension and Termination
(i) close Your Account on the Platform; and/or
(ii) stop accessing the Platform.
You agree to indemnify, save, and hold GoldPe, its affiliates, employees, officers, directors and partners harmless from any and all claims, losses, damages, and liabilities, costs and expenses, including without limitation legal fees and expenses, arising out of or related to:
(i) Your use or misuse of the GoldPe Services or of the GoldPe Platform;
(ii) any violation by You of this Agreement; or
(iii) any breach of the representations, warranties, and covenants made by You herein. GoldPe reserves the right, at Your expense, to assume the exclusive defense and control of any matter for which You are required to indemnify GoldPe, including rights to settle, and You agree to cooperate with GoldPe's defense and settlement of these claims.
GoldPe will use reasonable efforts to notify You of any claim, action, or proceeding brought by a third party that is subject to the foregoing indemnification upon becoming aware of it. This paragraph shall survive termination of this Agreement.