On the occasion of Akshaya Tritiya, Paytm has partnered with gold refiner MMTC-PAMP to launch ‘Digital Gold’ offer, which allows customers to buy and sell gold with few clicks through the paytm platform. The scheme is known as ‘Gold Accumulation Plan’ but commonly referred to as paytm digtial gold offer.
Through their Paytm mobile wallets, consumers can purchase 24K 999.9 purity gold online and store it in MMTC—PAMP’s secure vaults free of charge. Also, consumers can make investments as low as Re 1 to buy gold, which is very lucrative. In addition, you can sell the gold as you like any time. Further, if you wish you can get the delivery of the gold done but there is minimum transaction conditions on the delivery.
Key features of digital gold from paytm
- Overview: Paytm users can now purchase gold online and store it in MMTC-PAMP’s highly secure vaults free of charge.
- Gold quality: With Paytm’s Digital Gold, customers can buy 24K 999.9 Gold from MMTC-PAMP instantly
- Storage: MMTC-PAMP instantly and store it in the country’s most secure, 100 percent insured vaults at no additional charge.
- Delivery: Request for their gold to be delivered at their homes can be made in the form of minted coins or sell it back online to MMTC—PAMP
- Selling: Consumers can sell it back online instantly. If the consumer wants to sell the gold, MMTC-PAMP will buy the gold back from them and the money will be transferred to the user’s bank account
- Min transaction: Minimum transaction value is Rs 1. You can buy & sell in fractions for example. 0.1 gm or in Rupees, for example Re.1 or Re. 2 etc
- Documents requirement: Currently, consumers transacting over ₹ 20,000 through Paytm need to provide KYC details and the same will apply to the gold scheme.
- Purchase time: You may purchase gold 24 hours a day, 7 days a week, 365 days a year, including public and bank holidays
How to buy gold using paytm
Step 1: In paytm app, click on Gold Icon (Fourth from the left under second line
Step 2: Scroll down to click on proceed
Step 3: You can buy in grams or in rupees. Just enter the amount, name, pincode and click on proceed to pay.
Same are the steps for selling the gold.
Offers on gold purchase:
- AKTGOLD – buy gold worth minimum Rs 10 uptill Rs 100 and you will get Rs 11 cashback
- Gold175 – Get 50% cashback upto Rs 175 on booking baahubali
Is it safe to buy gold online on paytm ?
Its completely safe since gold is stored in MMTC—PAMP’s secure vaults. Also, there is a misconception among consumers as they think they are buying this digital gold from Paytm. But, the reality is different i.e. the actual seller of this digital gold is MMTC-PAMP India and Paytm is a provider of a platform for the customer to access the gold accumulation plan from MMTC-PAMP. In addition, MMTC-PAMP will buy the gold when you want to sell it out.
- MMTC-PAMP is the custodian of your accumulated Gold, right from the point you buy Gold in GAP on Paytm.
- India‟s largest gold refinery, which is a joint venture MMTC Limited, a central government undertaking and PAMP Switzerland, global leader in refining bullion and global referee for precious metals.
- MMTC-PAMP is India‟s first and only London Bullion Market Association (LBMA) Good Delivery accredited Gold & Silver refinery.
How can i sell the gold on the paytm?
MMTC-PAMP will buy the gold from you in case you want to sell the gold but only at a price which is currently prevailing on the platform. The money will be directly credited to the bank account. However, if you wish to redeem the gold, you can do so in the form of gold coins or minted products. Each coin will have different making charges, based on the weight and design of the coin. Which means you will have to pay additional making and delivery charge.
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