Paytm Gold redefines saving of India’s most preferred wealth asset

NEW DELHI: Gold is the default savings instrument in India, with one in two Indian households owning some amount of gold as a part of their future savings. This precious metal has been traditionally bought at high fixed outlays at jewelers with limited attention to market prices.

Owing to combination of concerns around purity, safety, high storage charges and long waiting periods for lockers, Paytm Gold powered by MMTC-PAMP – a product that is bringing affordability to India’s preferred wealth management asset, has been launched, according to Paytm.

Paytm Gold can be bought from MMTC-PAMP anytime anywhere starting at just Re. 1 and stored in MMTC-PAMP’s free and 100% insured, secure lockers. Paytm Gold customers don’t bear any additional charges. Customers get access to live price updates and have the option to sell back their accumulated gold online instantly to MMTC-PAMP.

Seeing this encouraging response, Paytm has increased its set of serviceable pin-codes, and will soon make Paytm Gold available at every nook and corner of the country without any limitations. Paytm believes that this will enable everyone irrespective of demographics and income levels to put a portion of their savings into Paytm Gold.

Krishna Hegde, Senior Vice President - Paytm said, “Buying gold offline comes with added costs including making charges. Further, the minimum amount tends to be high making gold inaccessible to several income groups. Owing to the affordability and convenience our product offers, a number of households across income levels are saving in Paytm Gold today. We are expanding our set of serviceable pin-codes to reach a wider set of consumers across India and helping them adopt Paytm Gold as a means to save for their future.”