Airtel Payments Bank has announced the launch of DigiGold in partnership with SafeGold, a leading provider of digital gold. As part of its growth of digital services, Airtel Payments Bank’s savings account customers with DigiGold can invest in 24K gold using the Airtel Thanks app. The telco says that customers can also gift DigiGold to their family and friends, who have a savings account with Airtel Payments Bank. The gold purchased by customers is stored “securely” by SafeGold at no additional cost and can be sold through the Airtel Thanks app at any time in just a few clicks. Airtel adds there’s no minimum investment value requirement, and customers can start with as low as one rupee.
Speaking over the development, Ganesh Ananthanarayanan, Chief Operating Officer at Airtel Payments Bank, said DigiGold is the company’s latest addition to the neo-banking proposition of secure and value-driven products. “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,” the senior Airtel executive said in a statement. Gaurav Mathur, managing director at SafeGold lauded the partnership and said gold remains a part of every Indian’s investment portfolio. “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,” he added.
— Airtel Payments Bank (@airtelbank) May 13, 2021
As mentioned, to use the feature, customers will need to create an account with Airtel Payments Bank. To create an account, open the Airtel Thanks app on your smartphone or visit the website > Enter your mobile number > Go to Bank section > Submit ID proof > Verify OTP. Recently, Airtel Payments Bank increased its savings deposit limit to Rs 2 lakhs in line with RBI guidelines. It now offers an increased interest rate of 6 percent on deposits between Rs 1 – 2 lakhs.