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Business News/ Money / Personal Finance/  Digi gold: What is gold accumulation scheme?
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Digi gold: What is gold accumulation scheme?

Customer has complete freedom to seek physical delivery of gold in the form of coins or bars at anytime or multiple times according to their discretion.

MMTC-PAMP has developed a Gold accumulation plan for customers who wish to buy and accumulate Gold without worrying about safe keeping of the metal. (REUTERS)Premium
MMTC-PAMP has developed a Gold accumulation plan for customers who wish to buy and accumulate Gold without worrying about safe keeping of the metal. (REUTERS)

One can buy gold online via mobile wallets such as Paytm, Phonepe, and under the Gold Rush plan of Stock Holding Corporation of India. These gold buying options are offered either in association with MMTC-PAMP or SafeGold or both. What are these digital gold schemes. Read on to know.

MMTC-PAMP has developed a Gold accumulation plan for customers who wish to buy and accumulate Gold without worrying about safe keeping of the metal. The customer has the flexibility to acquire gold of value as low as 1,000 or in multiple thereof. The customer is not obligated to make any fixed or periodic payments. The gold purchased is set-aside in an allocated enclosure within the MMTC-PAMP vault with full insurance cover and security.

SafeGold is another digital that allows you to buy, sell and take delivery of 24k physical gold, at low ticket sizes, around the clock, with the tap of a button.

Each customer opting to accumulate gold under the scheme is required to open a metal account after complying with a defined registration process.

Customer has complete freedom to seek physical delivery of gold in the form of coins or bars at anytime or multiple times according to their discretion under both the options.

Gold can be bought or withdrawn online 24 hours a day, 7 days a week, and 365 days a year. Physical gold purity is .9999.

Stock Holding Corporation of India, India’s leading securities provider, operates the GAP under the name “GoldRush" and MMTC-PAMP provides the entire metal availability and back office support including posting gold prices, its physical storage and delivery.

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Updated: 15 Nov 2020, 12:26 PM IST
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