Paytm, the popular e-wallet, is introducing Gold Accumulation Plan (GAP) through which users will be able to buy gold between 1 gram to maximum 10 grams. 

 

The company launched GAP in collaboration with MMTC-PAMP's which is a joint venture between PAMP SA Switzerland and MMTC, a Government of India Undertaking. The seller of gold is MMTC-PAMP India and PayTM is providing a platform for the customer to access the Gold accumulation plan.

 

Now, customers through Paytm will be able to buy 9999 gold which is the purest form of gold that is mainly used for trading around the world. 

 

Paytm users will be able to buy gold through GAP all time of the week irrespective of public or bank holidays. In the mobile app and the Paytm website, there will be real-time display of gold price to help customers make a better judegment. 

 

Once purchased the gold will be physically stored under buyers name in MMTC-PAMP's secured vault for next 5 years, a buyer can also redeem the gold either as coins or as minted products. 

 

Paytm has not set any limit on the quantity of gold buyers wan to accumulate as of now, but it is subject to change of policies. 

 

Also READ: Beware: 10 things to show your Paytm, e-wallets are just not safe

 

The details of buyers purchase or the accumulated gold account will not be shared with tax authorities unless enquired by government authorities, only then requested information will be given.

 

The facility to buy and accumulate gold through GAP will be available only for the residents of India.