Paytm has partnered with gold refiner MMTC-PAMP to launch Digital Gold. The Digital gold scheme allows customers to buy and sell gold through the electronic platform. Consumers Can Now Buy 'Digital Gold' Using Paytm
As India is the world's largest consumer of gold, our government is encouraging people to buy digital and paper gold, instead of the physical form to curb large scale hoarding. Know more about this scheme:
By Gold accumulation plan (GAP) users can purchase gold using their Paytm account. Investment as low as Rs 1 is enough to buy the gold. Customers can buy and sell gold infractions. For example, you can buy gold worth Rs 1 and above or 0.1 gram and above. Which Countries Have The Largest Gold Reserves?
Paytm says that all Paytm users may purchase gold 24 hours a day, seven days a week, 365 days a year, including public and bank holidays. People can see the live price of gold, real time on Paytm platforms including website, mobile application, etc.
Mode of payment
To buy gold using Paytm, the following modes of payments are accepted.
Or any other mode of payment as Paytm may make available on their platform.
How to sell back gold?
You can sell back your gold holdings to MMTC-PAMP through Paytm platform. You can sell it at the price rate displayed on the Paytm. This money gets credited into the bank account details provided by you.
MMTC-PAMP India Pvt. Ltd. Is a joint venture between MMTC Limited, a Govt. of India undertaking and PAMP Switzerland. MMTC-PAMP is India‟s first and only London Bullion Market Association (LBMA) Good Delivery accredited Gold & Silver Refinery.
Through Paytm mobile wallets, consumers can purchase 24K 999.9 purity gold online. This can be in MMTC-PAMP's secure vaults free of charge. Request for their gold to be delivered to their homes can be made in the form of minted coins or sell it back online to MMTC-PAMP. Should Gold Investment Be Done In Physical Or Electronic Form?
For buying gold through Paytm, the Paytm user needs to submit his or her name, registered mobile number and pin code at the time of initiating your accumulation of Gold.If your cumulative transaction value in the GAP account crosses INR 50,000, you will be required to adhere to the prevailing KYC norms. If a single transaction value crosses Rs 2 lakhs, you will be required to submit your Pan Card details. How To Get PAN Card Within Two Days?
Tax on purchase
At the time of purchasing, selling and redeeming Gold, all applicable taxes are included in your invoice. These taxes are over and above the displayed price of the gold.