Airtel Payments Bank on Thursday launched DigiGold, a digital platform for its customers to make investments in gold.
DigiGold, which allows customers to start with an investment of as low as Re 1, has been launched in partnership with SafeGold, a provider of digital gold.
With DigiGold, Airtel Payments Bank’s savings account customers can invest in 24K gold using the Airtel Thanks app. Customers can also gift DigiGold to their family and friends, who have a savings account with Airtel Payments Bank, the company said in a statement.
“The gold purchased by customers is stored securely by SafeGold at no additional cost and can be sold through Airtel Thanks app at any time in a matter of few clicks,” it said.
Ganesh Ananthanarayanan, Chief Operating Officer of Airtel Payments Bank, said DigiGold is the latest addition to the company’s neo-banking proposition of simple, secure, and value-driven products. There is no minimum investment value requirement and customers can start with as low as Re 1 .
“Our customers can now invest in gold through a seamless digital journey on our app. We also plan to introduce Systematic Investment Plans to enable customers to invest regularly,” Ananthanarayanan said.
Gaurav Mathur, Managing Director of SafeGold, said as gold is a part of almost every Indian’s investment portfolio, it is imperative for the ecosystem to devise avenues that empower every citizen to buy and sell gold digitally.
“Gold has seen a resurgence over the past year as the savings instrument of choice, and we are proud to have partnered with Airtel Payments Bank to offer customers range of digital gold related products in the manner and value of their choice,” Mathur added.
SafeGold, a provider of digital gold, offers customers 24K gold ascribing to international quality standards.
“It combines the convenience and speed of the internet with the safety of a SEBI registered Trustee, and more security than traditional gold purchases, the statement said.
Airtel Payments Bank had recently increased its savings deposit limit to Rs 2 lakh in line with RBI guidelines. It now offers an increased interest rate of 6 per cent on deposits between Rs 1-2 lakh.