How to buy Gold online in Saudi Arabia?

Rajhi Bank has launched an e-Wallet through which you can buy and sell gold in Saudi Arabia online while the bank keeps its custody. You can also request the delivery of the gold against some additional cost.

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Benefits of buying Gold online

There are many benefits of buying gold online in Saudi Arabia through Al Rajhi Bank such as;

  • Ease of buying as the money is debited from your account immediately.
  • Ease of selling as you can sell anytime with a single click.
  • No security risk as the gold is safe with Al Rajhi Bank.

Buy Gold Online

In order to buy gold with an Al Rajhi bank e-wallet in Saudi Arabia;

  • Download the Application through PlayStore or iTunes.
  • Log in to your Internet banking account.
  • Press the “Explore” option from the bottom.
  • Select “All Services” from the top.
  • Click on the “Gold Wallet” under investments.
  • Press the “Buy Gold” button.
  • Click on the “Custom Weight“.
  • Enter the weight in grams.
  • Minimum purchase: 5 grams.
  • Click on the “Next” button.

How to buy Gold online in Saudi Arabia?

On the next page, check the following things before confirming the online purchase of Gold;

  • Gold Price.
  • Gold Source: Switzerland.
  • Gold Vendor: MKS.
  • Purity Level: 999.9.
  • Press the “Confirm” button to execute the transaction.
  • The amount will be immediately deducted from your bank account.

Check Al Rajhi Gold e-Wallet balance

After buying the gold from Al Rajhi Bank in Saudi Arabia, you can check the balance of your e-wallet anytime. In order to do it;

  • Log in to your Internet banking account.
  • Press the “Explore” option from the bottom.
  • Select “All Services” from the top.
  • Click on the “Gold Wallet” under investments.
  • Click on the “Wallet Details“.
  • Gold Balance: gold in grams.
  • Sell Price: The price at which you can sell gold to Rajhi Bank.
  • Market Value: The value of your gold e-wallet.
  • Gold bar serial number: This is the serial number of the gold bar you have just purchased.

Sell Gold online

In order to sell gold from the Al Rajhi Bank Gold e-Wallet, 

  • Log in to your Internet banking account.
  • Press the “Explore” option from the bottom.
  • Select “All Services” from the top.
  • Click on the “Gold Wallet” under investments.
  • Select the “Sell Gold” option.
  • Choose the gold bar you want to sell.
  • Press the “Confirm” button.
  • Check the final Gold Price at which you are selling.
  • Rajhi Bank will also tell you the amount of profit/loss you are making on this transaction.
  • Press the “Confirm” button to execute the transaction.

Gold Delivery Charges

You can also request Al Rajhi Bank to deliver gold bought online to your home address or one of their branches against some delivery charges as listed below;

  • SR 150 for the insurance cost.
  • SR 1,000 gold delivery charges.
  • Total: SR 1,150.

Al Rajhi Bank will deliver you the gold bars with the same serial number as listed in your e-wallet.

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