Is Paytm's digital gold scheme really beneficial?
Buying gold through paytm is very easy. Just select the amount you want to invest, pay for it and bang! you get gold in your account. You may even get cashback if you apply the right promocode.
BUT BUT BUT, it is has some CONS -
1. The selling price is less than buying price. When the buying price was around 3000Rs/gm, the selling price was around 2832Rs/gm. Thats a lot of difference isn’t? So, it is not a good place to invest as you are likely to incur loss at the end.
2. You will not get to know this difference in price before you buy gold i.e. paytm shares the info that there will be a difference in the prices but the extent of the difference is not mentioned.
3. In addition to this difference, paytm also charges a fixed fees of Rs10 on selling the gold.
4. The amount that you get after selling gold gets into your Bank A/c and not in your paytm account. (not really a con)
5. Paytm mentions that they have a dedicated consumer helpline but I couldn’t find one even after calling their different phone numbers.
6. You get this message after selling your gold
Dear Customer,
the process to sell your Paytm Digital Gold (order #XXXXXXXX) has been initiated. The amount will be credited to your Bank Account within 48 working hours.
My View -
Cant say yet, Just started using it.
Paytm - Gold Scheme is actually good for spenders like me. I can never save money and get Gold at once. My sole purpose to accumulate this Gold is not to sell it but to get it made into biscuits.
Today is start investing in it 1st time, my goal 1st invest till 5month let c what will happen.
Everyday i buy 100rs = Digital Gold in my Locker till 5 month ( 100rs * 20 trading day * 5month = 10,000rs) going to invest in this way.
Whenever you buy gold, like i buy today at 100rs in morning, 3% GST deducted = net remain 97rs, and now you see its 97.89 currently i am 0.89 paisa profit running.
I am new in this no experience, if anybody invest in this please share your experience, because in this discussion nothing profit loss, only discussion and doubts.
Buying gold through paytm is very easy. Just select the amount you want to invest, pay for it and bang! you get gold in your account. You may even get cashback if you apply the right promocode.
BUT BUT BUT, it is has some CONS -
1. The selling price is less than buying price. When the buying price was around 3000Rs/gm, the selling price was around 2832Rs/gm. Thats a lot of difference isn’t? So, it is not a good place to invest as you are likely to incur loss at the end.
2. You will not get to know this difference in price before you buy gold i.e. paytm shares the info that there will be a difference in the prices but the extent of the difference is not mentioned.
3. In addition to this difference, paytm also charges a fixed fees of Rs10 on selling the gold.
4. The amount that you get after selling gold gets into your Bank A/c and not in your paytm account. (not really a con)
5. Paytm mentions that they have a dedicated consumer helpline but I couldn’t find one even after calling their different phone numbers.
6. You get this message after selling your gold
Dear Customer,
the process to sell your Paytm Digital Gold (order #XXXXXXXX) has been initiated. The amount will be credited to your Bank Account within 48 working hours.
My View -
Cant say yet, Just started using it.
Paytm - Gold Scheme is actually good for spenders like me. I can never save money and get Gold at once. My sole purpose to accumulate this Gold is not to sell it but to get it made into biscuits.
Today is start investing in it 1st time, my goal 1st invest till 5month let c what will happen.
Everyday i buy 100rs = Digital Gold in my Locker till 5 month ( 100rs * 20 trading day * 5month = 10,000rs) going to invest in this way.
Whenever you buy gold, like i buy today at 100rs in morning, 3% GST deducted = net remain 97rs, and now you see its 97.89 currently i am 0.89 paisa profit running.
I am new in this no experience, if anybody invest in this please share your experience, because in this discussion nothing profit loss, only discussion and doubts.
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