How to buy or Sell Digital Gold through Paytm?

How to buy or Sell Digital Gold through Paytm-minHow to buy or Sell Digital Gold through Paytm?

India’s largest e-commerce company Paytm, is offering Digital Gold through its platform. While gold has lost its shine for investment to some extent, it is still a preferred investment for Indian women and during weddings. How to Buy Gold through Paytm? What is the gold accumulation plan in PayTM? How to withdraw gold grams through Paytm? Is it worth buying gold through Paytm? Let me touch upon these points in this article and do Paytm Digital Gold Review. This article is based on request on "Suggest a topic".

Also Read: Is it safe to invest in Gold through Bullion India?

What is Paytm Payment Bank?

Paytm Payment Bank (Referred as Paytm) is an Indian e-commerce company which has derived its name from acronym “pay through mobile”. It is a digital platform that allows you to transfer cash into the integrated wallet through online banking, debit and credit cards. This digital wallet can be used to make a number of payments without using cash. Launched in August, 2010, initially the company provided simple services like payment of utility bills and mobile recharge etc. With time, it has expanded its services into a variety of fields like digital wallet.

What is Digital Gold?

Digital gold is like storage of gold by a third party in their vault without taking delivery by the account holder.

Where to buy Digital Gold on Paytm site?

Once you log in to the website of Paytm and go to digital gold, a window will be opened which asks you to buy gold in rupees or in grams. Here, you can select the amount of investment or the quantity of gold you wish to buy. You can buy gold for Rs 1 or 0.1 grams.

What is gold accumulation plan in Paytm?

The digital payment platform Paytm recently rolled out Gold Accumulation Plan (GAP). It is a joint venture between MMTC Limited (a Govt. of India undertaking) and PAMP (a global leader in refining bullion and global referee for precious metals), which allows one to purchase and sell/ redeem gold using its account. It has a feature of buying gold for any denomination of rupee or grams like as low as Rs. 1 or one gram. MMTC-PAMP India, is the country’s largest gold refinery and thus it guarantees you the purest form of gold i.e. 24K, 99.99% pure gold. It is the ‘only digital platform’ that is providing this facility of GAP. You may purchase gold any time anywhere around the clock and round the year including public and bank holidays.

How to buy or sell Digital Gold through Paytm?

In order to buy gold through Paytm, one needs to be a registered Paytm user with a valid Paytm ID and password.

  • Log in to your account and access the “gold powered by MMTC-PAMP” plan. Make an offer to buy gold at the rate displayed on the Paytm platform in either rupees or grams.
  • You will be able to see live prices of gold updated frequently on the website.
  • The gold you buy is stored with MMTC-PAMP’s secure vaults.
  • The buying and storage period is five years from the date of purchase. In this period of time, you either need to sell or withdraw your gold.
  • Once this duration of five years is complete, it is mandatory to sell or take delivery of the respective quantity. If you want to hold your gold after this duration, applicable charges will be charged from you.

Are there any Paytm Digital Gold Cashback?

Yes, for first time buyers of digital gold, Paytm offers cashback. You can use promocode of GOLDNEWS and get paytm digital gold cashback of 5%. You can use this money to make other payments from your paytm account.

Where to check about your gold grams on Paytm?

In the order confirmation email, invoice for your purchase is also sent as an attachment. You can also visit ‘my orders’ section under order page on Paytm App to have complete details about your gold grams.

How to withdraw gold from Paytm?

If you want to sell your gold, MMTC-PAMP will buy back the gold from you at the prevailing rates and the amount will be credited to your account. In case, you wish to withdraw all your gold or a part thereof from your gold holdings, you can select the quantity and denomination of the gold from the available options of coins on the Paytm platform. The making charges are additional to the weight of the gold and vary from coin to coin. You have to pay the additional making and delivery charges to confirm the transaction. Once the transaction is completed, your gold product will be delivered at your notified address.

What are making and delivery charges if you buy through Paytm?

In case you decide to redeem your gold, you can do it in the form of gold coins or minted products. But, the making charges are not decided prior. Each coin bears different making charges based on the weight and design of the coin. You have to bear additional making and delivery charges over and above the gold prices. One more noticeable point is that once the redemption request is made, you have to accept the delivery. The product is delivered to you in the next 14 working days from the date of redemption.

What are the drawbacks of buying Digital Gold through Paytm?

Here are some of the major drawbacks.

  • One needs to make transaction (buy or sell) through Paytm once in 6 months. Otherwise, your account would be inactive.
  • The tenure of gold accumulation plan is 5 years. If you wish to accumulate gold for your child’s marriage, you cannot keep them for more than 5 years.
  • There is no nomination facility available. Means if the account holder dies, their legal heirs should approach Paytm which is tedious process. 
  • If you think to buy and sell gold on the same date, you cannot do.
  • There is no monthly installment system. You have to make the payment instantly.
  • You would not receive any interest on your investment.
  • One more problem is that the Paytm deliver gold to only few locations in India. The customer needs to be cautious about few hidden charges like if you wish to withdraw gold in the form of coins, you need to pay extra delivery and making charges which are not decided prior.

Can NRI’s invest in Gold accumulation Plan of Paytm?

All resident Indians are eligible to invest in Gold accumulation plan of Paytm. However if a resident Indian has moved to abroad, then he need to redeem such gold. They cannot continue it. NRI’s are not eligible to invest in gold accumulation plan of Paytm.

Is it safe investing Digital Gold through Paytm?

If you wish to buy gold, it is one time transaction, hence less risk. However if you wish to participate in gold accumulation plan, such service is provided by MMTC-PAMP and not directly by Paytm, hence it is safe to invest in digital gold accumulation plan.

Also Read: Top 20 Best Performing Mutual Funds in India

Is it worth buying gold through Paytm?

Gold has always been a preferred investment for Indians and Paytm has provided a platform to buy and sell the gold of international quality. You can accumulate huge reserves by investing small amounts constantly which would be useful for you in future. However, there are several drawbacks in Paytm which would make this platform unattractive. Consider the negative points before you invest through such platform.

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How to buy or Sell Digital Gold through Paytm

Suresh KP


  1. hi sir myself deepika. i would like to buy paytm gold. i dont have any much gold till now. so i am thinking first i would like to start investment for one year for paytm gold. after that i redeemed that much of gold. it is good for me . please leave a feedback to me. thanking you sir.

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