Paytm Silver Savings Feature: How To Start Investing in Silver With Just Rs 20?

Paytm Silver Savings: Indian fintech giant, Paytm, has recently started a silver savings feature in its application to let people invest in the precious metal, starting with a small amount of Rs 20. The feature will let Paytm users invest in digital silver.

The white metal is sourced from MMTC PAMP and kept in insured vaults, hence, people can use the feature to get an option for low-ticket, asset-backed savings alongside existing digital gold services. Here are all the details about Paytm silver savings feature.

What is Paytm Silver Savings Feature?

Paytm Silver is launched months after the company launched its Paytm Gold feature. The silver is sourced from MMTC PAMP and kept in insured vaults, giving app users an option for low-ticket, asset-backed savings alongside existing digital gold services.

One 97 Communications, which runs Paytm, said users can purchase and sell silver directly within the app at market-linked rates. The platform shows live prices, lists applicable taxes separately before payment, and does not levy making charges on these silver transactions.

How To Use Paytm Silver Savings Feature?

-The new Paytm silver savings feature is designed for small-value investments.
-Download and install Paytm application.
-Login using your mobile number.
-Now search for 'Paytm Silver' in the application.
-Choose the rupee amount you wish to invest in it.
-Complete the payment through UPI, net banking or debit card, similar to other Paytm services.
-The equivalent quantity of silver bought under the Paytm silver savings feature is stored in secure, insured vaults managed with MMTC PAMP. MMTC PAMP is a joint venture that includes MMTC Limited, which is a government-owned enterprise. Paytm sends confirmations for every transaction through SMS and email to users.

Benefits of Paytm Silver Savings Feature

The feature is extended to the company's digital precious metals portfolio beyond gold. As per the company's press release, the digital gold product saw strong adoption in digital gold. Now the company offers silver as another savings choice.

SEBI Issues Warning For Digital Gold Investment

The Securities and Exchange Board of India (SEBI) in November had warned investors that as digital gold "operates entirely outside its purview", investors can not get the benefit of the protection mechanism set by the body for other gold investment products like ETFs, EGR, etc.

"It is informed that such digital gold products are different from SEBI-regulated gold products as they are neither notified as securities nor regulated ascommodity derivatives. They operate entirely outside the purview of SEBI. Such digitalgold products may entail significant risks for investors and may expose investors tocounterparty and operational risks," stated SEBI.