In an era where smartphones are wallets and investments happen with a swipe, buying 24K gold has never been easier for Indian investors.
Gone are the days of crowded jewellers and haggling over purity. Today, a host of apps lets you own pure gold – digitally or physically – starting from as little as Rupee. 1. With gold prices skyrocketing amid global uncertainties, digital gold investments have surged by over 25 percent year-on-year, according to recent fintech reports. Leading the charge are popular payment apps like Google Pay, PhonePe, and Paytm, alongside dedicated platforms offering seamless physical delivery. Here’s a deep dive into your best options, plus why digital gold is a smart bet for modern portfolios.
Why should you buy digital gold?
Digital gold is essentially 99.9 percent pure 24K gold stored in insured vaults – combines tradition with tech for hassle-free investing. Key perks include:
– Affordability and Accessibility: Start small, from Rupee. 1 or Rupee. 10, without the hefty upfront costs of physical bars or coins.
– No Storage Headaches: Forget locker fees or theft worries; your gold is vaulted securely by partners like MMTC-PAMP or SafeGold.
– High Liquidity and Flexibility: Buy, sell, or redeem 24/7 at live market rates, with instant cash transfers to your bank.
– Guaranteed Purity and Transparency: Backed by LBMA-certified 24K gold, audited regularly, and often eligible as loan collateral.
– Inflation Hedge with Ease: Acts as a portfolio diversifier, offering steady returns (historically 8-10 percent annually) minus making charges or GST on fabrication.
While unregulated by SEBI or RBI (a minor caveat), trusted providers mitigate risks through robust security. For long-term holders, tax benefits shine: 20 percent long-term capital gains with indexation after three years.
Top apps for buying digital gold in India
– Google Pay: India’s go-to UPI app with over 500 million users, stands out as a viable, no-fuss option for 24K gold. Partnered with MMTC-PAMP, it lets you buy digital gold starting at Rupee. 1, sell anytime, or redeem as physical coins/bars delivered home (minimum 0.5g). No extra fees for storage, and integration with your daily transactions makes it ideal for micro-investments. Users rave about its simplicity – perfect for first-timers building a Diwali kitty or wedding fund.
– PhonePe: Backed by SafeGold and MMTC-PAMP, buy from Rupee. 1 with zero storage costs. Redeem as coins or jewelry; features like SIPs automate savings.
– Paytm: Collaborates with MMTC-PAMP for 99.9 percent pure gold from Rupee. 1. Instant buybacks and gifting options make it festive-friendly.
– Amazon Pay: Tied to SafeGold, it offers 99.5 percent pure gold. Seamless for e-commerce fans, with vault storage included. You can buy for as little as Rs 5. A maximum of 30 grams can be kept in the vault.
Top online apps for physical 24K gold with delivery
For those who prefer tangible assets, several platforms convert digital holdings or sell direct physical 24K gold (bars/coins) with insured doorstep delivery across India. Minimums apply (often 0.5g-1g), plus nominal shipping charges are levied.
– MMTC-PAMP App: Government-backed purity (99.99 percent), buy bars/coins from Rs. 100 and get them couriered. Direct redemption from digital to physical.
– Tanishq Digital Gold: Tata Group’s app sells SafeGold-backed 24K; exchange for jewelry or home-deliver bars (from 0.5g) via courier.
– Muthoot eSwarna: Flexible buys from small amounts; physical delivery at live rates, no making charges.
– Augmont DigiGold: 999-purity gold with PAN-India delivery; convert digital to coins starting Rs. 10.
– DigiGold: Amrapali’s platform for bars/coins from ₹1; Brinks-vaulted with quick courier service.
Pro tip: Always verify PAN linkage for KYC and opt for insured delivery to avoid transit risks.
As festive fervor builds toward Dhanteras, experts urge diversifying with 5-10 percent in gold via these apps. Whether digital ease or physical gleam, owning 24K gold online is now just a tap away.