Rise of Digital Gold Deposits: Here to Stay?

People’s love for gold is no secret. A symbol of grandeur, prosperity, and luck, this yellow shiny metal is considered a safe and time-tested investment.

Surge in the usage of digital gold

The charm of physical gold will never fade anywhere in the near future. But issues in accessibility (pandemic-driven), purchase limits, security, and storage, triggered the need and rise of digital gold. Sovereign gold bonds and exchange-traded funds (ETFs) with set lock-in periods, liquidity factors, and availability (as they’re only available in tranches) concerns put digital gold in the spotlight.

People started gravitating toward digital gold as a viable investment instrument. Digital gold deposit plans offered by banks and NBFCs began easing investment journeys for customers. They provided an incredibly practical and secure way to invest in gold.

Today, consumers can start their savings journey with a minimum of 100 INR and add to their savings with the convenience of multiple apps and websites. Banks like SBI, HDFC, and Axis are among the most reputed gold deposit service providers, along with fintechs like Paytm, PhonePe, etc. They ensure customers can purchase or deposit the best digital gold from anywhere, anytime.

Read the full article here as we uncover more about Gold Deposit Scheme, the key advantages that digital gold offers, and how M2P employs an API-driven technology stack to seamlessly integrate gold deposits.

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