The love of Indians for gold is not hidden from anyone. We buy this yellow metal for both use and investment. There are many ways in which you can invest in gold. In this, money can be invested through Gold Exchange Traded Fund (ETF), Gold Mutual Fund, Coins and Bars and Digital Gold. Mobile wallet providers like Goldlane, Paytm, Mobikwik and Phone Pay have also started offering digital gold to quench the thirst for gold.


What is the offer?

Before analyzing all the options, here are some important things that you should keep in mind.


Who is offering: You can buy gold online through mobile wallets like Goldlane, Paytm, Mobikwik and PhonePe and under the Gold Rush Scheme of Stock Holding Corporation of India. All these options for purchasing gold are offered with the support of either MMTC-PAMP or Goldlane or both.


MMTC-PAMP is a joint venture between state-owned MMTC and PAMP SA of Switzerland. Goldlane is a digital platform, which is connected to various mobile wallet apps. It allows customers to buy and sell gold.


Accuracy: MMTC-PAMP and Goldlane both offer 24k gold prices. However, MMTC-PAMP offers gold of 99.9 per cent purity in terms of finances. Whereas Goldlane gained 99.5 percent. What is the ratio of gold to total weight, it is called fineness.


Security: Gold purchased from these platforms is kept in a special vault. They are completely safe.


How long can you keep gold: There is no storage charge when you buy gold from MMTC-PAMP platform. Anyone can keep gold for a maximum of five years. However, after five years you need to convert it into gold coins or sell it. To save your account from becoming inactive, you have to make a transaction at least every six months.


Storage charges are charged on purchasing gold from Goldlane using PhonePe or Mobikwik. If the amount of gold in the first two years is more than two grams, there is no charge for the gold purchased on PhonePe through the Goldlane platform. If it is less than two grams, 0.05 per cent is charged per month.


On the other hand, gold purchased from Mobikwik can be stored for a maximum period of seven years. It takes standard processing charge and GST. However, Mobikwik has not said how much these charges are.