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Paytm announces 'Make Your Salary Day a Savings Day' initiative to promote digital gold

Users buying digital gold via Paytm between July 1 and July 3 will get additional free gold.

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Paytm has announced a new initiative called “Make Your Salary Day a Savings Say” for digital gold buyers on its platform. The e-commerce portal started offering digital gold to buyers and investors earlier this year and since then, it has announced multiple offers and cash backs to entice gold buyers. 

The new offer is aimed at the youngsters and helping them save at the beginning of the month by offering free gold. As part of the new initiative, Paytm will offer free gold worth up to Rs 1,000

The new initiative will be valid from the first to the third of every month and the free gold will be credited to the buyer’s wallet. In order to avail the offer, on purchasing digital gold from the Paytm site, the user needs to scan a QR code. On scanning the code, the free gold bonus will be deposited to the buyer’s digital gold wallet.

The maximum gold bonus a user can earn is up to Rs 1,000, which as per the current gold rate on Paytm amounts to approximately 0.3297 grams. The amount will automatically be added to the current digital gold savings in the e-wallet. The offer is already activated for July and users can buy the digital gold under the initiative starting today.

Talking about the new Paytm initiative, Krishna Hegde, senior Vice President, Paytm said, “Digital Gold has been key to changing the way Indians save. Our ‘Make Your Salary Day a Savings Day’ campaign is aiming to encourage consumers to save a portion of their salary on the same day they get paid. The goal is to simplify savings for the masses and help them build a healthy habit for long-term wealth creation.”

Paytm, on its blog has answered a few questions like whether there is a minimum amount of digital gold purchase required to avail the offer and what is the percentage of returns. Also, is the offer only for Paytm app users? We’ve reached out the Paytm and are still awaiting clarification on the queries. ALSO READ: Paytm Payments Bank to go live with UPI by August: Report

Paytm Digital Gold offers Indians the chance to invest in gold for as little as Re 1 and the user can save the gold in the wallet. Paytm offers 24 karat 999.9 percent pure gold from MMTC-PAMP and stores it at no cost. However, for physical delivery of the gold, the buyer has to pay a nominal delivery charge. The higher the quantity of gold, the lower the delivery cost. According to the statistics shared by Paytm, the purchase of digital gold has increased by 150 percent in recent times. Paytm has already transacted in a quintal of gold since announcing the new feature and is witnessing a rise of 150 percent on a monthly basis.

  • Published Date: July 1, 2017 3:17 PM IST