Want to invest in Gold? If yes then you are at the right place to invest your money in Digital gold. Where you can track everything about your gold like live price, weight, etc. PhonePe has partnered with MMTC and Safegold to buy gold from PhonePe.
Pro Tip: You can read our guide on How To Complete PhonePe KYC and Multiple Bank Account In PhonePe
The best part of buying the gold from PhonePe is we can purchase gold for any amount like we can buy the gold for as low as 1Rs. So when we have less money in our pocket then also we can invest in Gold.
Download PhonePe to get exciting rewards on your first send money from PhonePe.
How To Buy Gold From PhonePe
India is the biggest consumption of gold according to the World Gold Council. That’s why digital players like PhonePe & Paytm have launched the buy and sell gold features on their platform. Buying gold takes only a few seconds from both PhonePe & Paytm.
Pro Tip: You can read our guide on How To Pay LIC Premium From PhonePe and Water Bill Payment From PhonePe & Get Rewards
Step By Step Guide To Buy Gold From PhonePe
Buying gold from PhonePe is as simple as sending money from PhonePe to your close ones like Friends, Relatives, etc. Both MMTC-PAMP and Safegold offer gold of 24KT. However, MMTC-PAMP offers 99.9% purity and Safegold offers 99.5% purity.
Step 1: First of all you launch your PhonePe and make sure to login to your PhonePe account.
Step 2: Now tap on My Money located at the bottom of your screen.
Step 3: At this step, you need to click on Gold under the investment and insurance sections.
Step 4: Select any methods from the given below. It is all about the purity of Gold. I prefer to buy MMTC-PAMP with 99.99% Purity.
Step 5: After that, you will see the live price of gold. The price can be fixed for 5 minutes so that you can buy the gold for the same price.
Step 6: After that, you have to Enter The Amount Of Gold In INR which you want to buy and proceed for payment.
Step 7: Now you will have 5 minutes for payment for your gold in the given price of the Gold. After 5 minutes if you are not able to pay the amount then the price of gold will be increased or decreased according to the live price.
Step 8: After this select any Payment Method and proceed for Payment.
Step 9: Now you have received a notification of Gold Purchase Successful also an invoice of your Gold will be E-Mail to your registered email address.
Features Of Buying Gold From PhonePe
- The live rate of Gold for buying and selling is valid for up to 5 minutes.
- One can buy gold worth Rs1.
- One can buy a gold maximum of 59.625gm.
- PhonePe provides two gold providers. One is MMTC-PAMP having 99.99% of purity while others are Safegold having 99.5% of purity.
- PhonePe provides 24 Karat Gold.
- You cannot sell the Gold within the purchase of 24 hours.
- You can sell your gold from PhonePe and get the amount in your Bank Account.
- You can also deliver that gold to your address by providing some charges.
You should read about How We Can Sell PhonePe Gold
FAQ (Frequently Asked Questions)
PhonePe wallet is monitored by the RBI and after RBI Guidelines it is necessary to complete the KYC of the wallet. Completing the KYC will not harm us in any manner although it will give us some additional benefits for being a PhonePe KYC verified user.
Note: You don’t need to visit anywhere to complete your KYC just like we need to visit the KYC Center Near Me to complete the Paytm KYC. There is no such PhonePe KYC near me or PhonePe KYC center near me.
You can use various websites or applications which are available to recharge the metro card online. They are easy to use and one of them is described above from which you can recharge Delhi Metro card online. You can also use Paytm & PhonePe to recharge your metro card.
PhonePe is a mobile wallet, we can use it for availing of the available services. Some of the services are, Send Money, Electricity Bill Payment, Water Bill Payment, Buy Gold, Sell Gold, Metro Recharge. Just follow the instruction to know how to pay the Electricity Bill from PhonePe.