Terms & Conditions

Last updated : 25th May 2026.

Welcome to Velox by Prem Gold Private Limited. By accessing our website, mobile application, and using our services, you agree to comply with and be bound by the following Terms & Conditions. Please read these terms carefully before using our platform.

1. Acceptance of Terms :
a) Velox Gold provides a seamless and secure platform that enables users to purchase and store gold conveniently through the mobile application.
b) Users must be at least 18 years of age and legally competent to enter into binding contracts under Indian law.
c) By registering an account or using our services, you acknowledge that you have read, understood, and agreed to these Terms & Conditions, along with our Privacy Policy and other applicable policies.
d) Gold purchased through the platform is recorded digitally in the user's wallet as equivalent gold units. Physical allocation, minting, or coin issuance shall occur only upon eligible redemption, subject to applicable charges, verification, and operational availability.
e) Velox Gold shall not be liable for delays, interruptions, or failure of services due to events beyond reasonable control including natural disasters, government actions, banking outages, cyber incidents, strikes, or technical failures.

2. Account Creation and Security :
a) Account Registration -
- To access our services, users must create an account on the Velox Gold mobile application.
- Users must provide accurate, complete, and up-to-date information during registration.

b) Account Security -
- You are responsible for maintaining the confidentiality of your account credentials, including passwords, OTPs, and login details
- Any activity conducted through your account shall be deemed authorized by you.
- Velox Gold reserves the right to request identity verification, address proof, PAN, Aadhaar, or any other documentation as required by law, internal compliance requirements, fraud prevention measures, or redemption processing.
- You agree to notify us immediately in case of unauthorized access or security breaches.

3. Use of Services :
a) Velox Gold allows users to purchase and store gold through the application.
b) You agree to use the platform only for lawful purposes and in compliance with all applicable laws and regulations.
c) Any fraudulent, illegal, abusive, or unauthorized use of the platform is strictly prohibited.

4. Gold Wallet Services :
a) Wallet Functionality -
- The Velox Gold Wallet enables users to securely store purchased gold within the application.
- Users can view their holdings, transaction history, and savings details through the app dashboard.

b) Market Risk -
- You acknowledge that gold prices may fluctuate based on market conditions.
- Velox Gold does not guarantee future gold prices, returns, profits, or investment performance.

c) Service Nature -
- Velox Gold is not a bank or financial institution and does not provide banking services.
- The wallet service is intended solely for facilitating gold purchases and storage within the platform.

5. Transactions :
a) Transaction Responsibility -
- Users are solely responsible for verifying all transaction details before confirming any purchase.
- Once completed, transactions may be irreversible and non-refundable, except where required under applicable law.

b) Transaction Limits -
- Velox Gold reserves the right to impose limits on transaction amounts, frequency, or usage in accordance with legal, operational, and security requirements.

c) Payment Verification -
- Gold will be credited only after successful payment confirmation and verification by the system.

6. Physical Gold Coin Collection :
a) Users who accumulate a minimum of 0.500 grams of gold in their Velox Gold Wallet may become eligible to collect a physical gold coin from our office/showroom.
b) Users may be required to provide valid identification, registered mobile number, or account details for verification before collection.
c) Physical gold coin collection is subject to availability, verification procedures, and office timings.

7. User Responsibilities :
You agree to:
a) Use the services only for lawful purposes.
b) Maintain the confidentiality and security of your account.
c) Ensure all information provided is accurate and updated.
d) Comply with all applicable laws, regulations, and platform policies.
e) Users are solely responsible for any taxes, duties, or statutory obligations arising from transactions, redemption, transfer, or collection of physical gold.
You shall remain solely responsible for all activities conducted through your account.

8. Privacy :
a) Your use of the Velox Gold platform is also governed by our Privacy Policy, which explains how we collect, use, store, and protect your personal information.
b) By using our services, you consent to the practices described in our Privacy Policy.

9. Limitation of Liability :
a) We make reasonable efforts to provide accurate, secure, and uninterrupted services.
b) However, Velox Gold shall not be liable for:
- Market fluctuations in gold prices
- Technical interruptions or system downtime
- Payment gateway failures or banking delays
- Unauthorized access caused by user negligence
- Losses arising from misuse of the platform
Use of the platform is at your own risk.

10. Indemnification :
You agree to indemnify and hold harmless Velox Gold, Prem Gold Private Limited, its directors, employees, affiliates, and partners from any claims, damages, liabilities, losses, or expenses arising out of:
a) Your use of the platform
b) Violation of these Terms & Conditions
c) Fraudulent or unlawful activities
d) Infringement of third-party rights

11. Termination or Suspension :
Velox Gold reserves the right to suspend, restrict, or terminate user accounts without prior notice if:
a) These Terms & Conditions are violated
b) Fraudulent or suspicious activity is detected
c) Required verification information is not provided
d) Use of the platform poses legal or security risks
e) Velox Gold may suspend or restrict access where reasonably necessary for fraud prevention, regulatory compliance, operational security, or legal obligations

12. Governing Law :
a) These Terms & Conditions shall be governed by and interpreted in accordance with the laws of India.
b) Any disputes arising out of or relating to these Terms shall be subject to the exclusive jurisdiction of courts located in Pune, Maharashtra, India.

13. Changes to Terms :
a) Velox Gold reserves the right to update, modify, or revise these Terms & Conditions at any time without prior notice.
b) Any changes will become effective immediately upon posting within the application or on our official platform.
c) Continued use of the services after such updates constitutes acceptance of the revised Terms & Conditions.

14. Contact Us :
If you have questions or concerns about our Terms & Conditions, please contact us at support@veloxgold.com & visit our office - 1st Floor, 122, The Grand Central, Pune - Nashik Highway, Chakan, Maharashtra 410501