MMTC PAMP Digital Gold: Review and Comparison
Digital Gold is one of the most rapidly growing modes of gold investment. It gives investors the benefits of gold like high returns, stability during uncertain markets while negating all the cons that physical gold typically comes with like high making charges, wastage charges and storage fee.
In this article, we will discuss one of India’s most popular Digital Gold providers, MMTC PAMP digital gold and compare it against other digital gold platforms
About MMTC PAMP Digital Gold
MMTC PAMP Digital Gold is basically digital gold being sold by MMTC PAMP through their online platforms. They sell 24Karat 99.99% pure gold starting from ₹1. There are no lock-in periods, you can withdraw anytime you want. The returns here will be equivalent to the rate at which gold price increases(~11%pa).
How to Buy MMTC PAMP Digital Gold?
Follow the steps mentioned below to invest in MMTC PAMP Digital Gold:
- Open MMTC PAMP's online Digital Gold portal
- Enter the amount or grams of gold you want to buy
- Select the payments method & proceed to pay.
Can Digital Gold earn you more?
Digital gold, historically, has given an average return of 11%pa. What if there was a way of getting extra returns on top of annual gold returns. This is possible with Gullak Gold+, where not only do you get the benefit of gold price increase but your gold quantity also increases by 5% every year. Here’s a quick comparison of how an investment of say, 100 gms will grow on Gullak compared to other gold apps:
| Assets | Investment | Year 1 | Year 2 | Year 3 | Year 8 |
|---|---|---|---|---|---|
| Gullak Gold+ | 100 gms | 105 gms | 110 gms | 115 gms | 148 gms |
| Other gold apps | 100 gms | 100 gms | 100 gms | 100 gms | 100 gms |
All the 148 gms will benefit from gold price increase as well.
Grow your gold by 5%pa
Comparison: MMTC PAMP Digital Gold vs Gullak Gold
In this section, let’s do a side-by-side comparison of both the assets: Table: MMTC PAMP Digital Gold vs Gullak Gold
| Parameter | Gullak Gold+ | MMTC-PAMP |
|---|---|---|
| Returns | 11%(average gold price increase) + 5%(extra) | 11%(average gold price increase) |
| Minimum Investment | ₹150 | ₹1 |
| Payment Modes | UPI/Netbanking | UPI/Netbanking |
| Withdraw Modes | Cash, gold coins, gold jewellery at Gullak’s partner stores like CaratLane by Tanishq | Cash, gold coins and bars |
Highest returns on Gold, only on Gullak
Concluding thoughts on MMTC PAMP Digital Gold
While MMTC PAMP digital gold is a great way to invest in digital gold, the benefits are similar to investing in digital gold on any other platforms. If you intend to get extra returns from your digital gold, Gullak Gold+ is worth checking out.
That being said, investors should do their own research before going ahead with any investment.
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