After digital wallet company Paytm introduced digital gold and sold a quantum amount of gold on its platform, the broking house biggie, Motilal Oswal has come up with Me-Gold which is an investment in gold through online format. In the scheme, gold shall be sold by MMTC-PAMP.
Minimum investment limit: Retail investors can book in the digital gold, Me-Gold with a minimum sum of Rs. 500 and in multiple of Rs. 1 thereafter.
No storage cost: MMTC-PAMP keeps the gold for you with no added storage or maintenance cost.
Redemption as physical gold: In case the investor redeems his investment as physical gold in either coin or bars then it shall attract making as well as delivery charges.
Sale of gold as well as exchange as jewellery also available: The gold can be sold also on the company's platform and in case the customer desires to retain it as jewellery then empanelled jewelers can be scored down including Senco Gold, PC Jewellers and Waman Hari Pethe Jewellers.
The main advent.ge of the scheme is that as gold is procured directly from the refiner, the customers shall be at an advantage both in respect of quality of gold as well as price.