Hello readers, Mobikwik-app recently launched the daily Gold SIP offer by partnering with Safe Gold. In India, you can buy digital gold through most of the apps These apps mostly partner with MMTC, SafeGold, and Digigold.
What are the Types of gold you can buy in India?
Physical gold:
We all are aware that We can directly buy physical gold in stores in the form of Gold coins or jewelry. There are a few disadvantages to physical gold like theft fear, locker charges, and you need to visit a shop to sell. Also, we only get 22kt gold, not pure gold(except coins).
Gold bonds:
SGB(sovereign gold bonds) are government-issued bonds that will give 2.5% returns per annum. But there is a lock-in period of 8 years and we can sell only after 5 years. The minimum purchase is 1 gram.
There are a few other forms of gold like ETFs and gold FOF but you can buy and sell at only stock market times
Digital Gold:
There are no restrictions in saving digital gold, you can start with even 10 rs and you can sell at any time. Even you can convert them into 24kt pure gold coins. So buying and selling digital gold is the best option, even if you are a beginner or expert.The only point we need to note here is you can sell your digital gold after 24 hours only.
Mobikwik and safe gold :
Mobikwik is one of the popular apps in India for recharges and bill payments. They slowly introducing a few investment opportunities like gold, and P2P lending(Mobikwik Xtra). It’s running since 2009.
Safe Gold is one of the largest gold buying and selling platforms. Here you can buy and sell physical and digital gold. It’s running since year 2017.
Note:
Safegold does not fall under the purview of SEBI or RBI.So be careful with your investments
Gold returns:
Gold gives almost 9% to 18% returns per year based on demand, but we need to consider the GST we pay and other charges(making charges). If you are planning to start an investment journey for the short term, you will get less return only. so Invest in gold at least for 10 years minimum to get good returns.
SIP(Systemetic Invesment plan):
An approach to save and invest money frequently. Let’s say you want 1 crore in 20 years for you and your family’s future. You can run SIP for 20 years with calculation. The good part is You are not saving money in the bank for low interest Instead you are investing. The invested amount will compound and you achieve your goal quickly. You can run sip for every day, week, or month. Simply you can start SIP with 10rs per day or 100 rs per month.
Mobikwik gold SIP offer:
If the user has done the first 30 SIP properly, they will get one SIP amount as gold, and if they complete 90 sip’s properly then they get one sip back, similarly for 180 sip’s and 270,360. Basically, they are giving one SIP for each quarter free.
Let us see with an example :
you are investing daily 100 rs for one year
first month 3000+100 – 93(3% GST)=3007 rs worth of gold in locker
third month 3007+6000+100 – 180(3% GST) =8834 rs worth of gold in the locker
sixth month 8834+9000+100 – 183(3% GST) + =17751 rs worth of gold in the locker
ninth month 17751+9000+100 – 183(3% GST) + =26668 rs worth of gold in the locker
twelfth month 26668+9000+100 – 183(3% GST) + =35585 rs worth of gold in the locker
so finally,
your invesment=36000
Mobikwik Gold back for a year =500
GST(3%) =822
gold in locker =35585
After all the calculations, we got 35585 worth 24kt gold and saved 500 in GST. Even if you are a short-term investor or long-term investor If gold prices go up, it will definitely be a profit.
Note:
Mobikwik may change cashback offer at any time, so read all terms and conditions before investing.
Pro Tip:
If you are a long-time investor, go for it. If you are a short-term investor think about how many months you are planning to invest and do calculations, then invest.
Mobikwik Xtra:(very risky )
Another investment offer given by Mobikwik is P2P lending. it will give up to 14% per annum, but P2P investments are risky and give constant returns for a particular lock-in period. If you refer your friend you will get 10% of their interest amount. For example, if your friend gets 5000 interest per month you get 500 per month.
so if you are going to try MobiKwik Xtra use the below link.
Click to invest or use Code DTTP6B
Mobikwik Fixed deposit:
MobiKwik is also offering Fixed deposits with a starting interest rate of 7.59%. Minimum tenure is 1 year. If you are a senior citizen, you will get 0.5 more and if you are female you will get 0.1% more.
Mobikwik vs JAR app:
Another app that is best for investing in digital gold is the Jar app. Mobikwik focuses on Reacharg & bill payments and multiple investments and loan lending. Unlike MobiKwik Jar focuses only on Digitial gold. So they are offering many more offers. When you compare both apps, they are giving 100 rs gold back for 3000. If you are focusing on daily investment go with Mobikwik. If you are a bulk purchaser use the Jar app.
The Jar app gives flat 40 cashback for a minimum purchase of 500(GOLDEN40 user-specific). If you are a new user you will get an additional 15 worth of free gold using this link
Jar app latest cashback offers:
- Get extra gold up to 30 on a minimum purchase of 50. (JAR WiNNINGS)
- Get 60 on a minimum gold purchase of 1000 (BIGSAVER60)
- Get 80 on minimum gold purchase of 2000 (OFFER80)
Conclusion:
- Digital gold is easy to invest in and sell
- No need to worry about storage.
- MobiKwik gives the best opportunity to accumulate gold for feature
- Digital gold investment is profitable whether it’s short-term or long-term.
- Gold gives 9 to 18 % per year in the long term
There’s a dedicated Telegram channel to get the latest deals and offers, join
