Digital gold is a modern, convenient, and cost-effective way to invest and accumulate gold.

Digital gold enables you to buy, sell and accumulate pure gold in fractions anytime and anywhere and will be stored in secured vaults by the service provider on the customer’s behalf. 

The gold offered to the customer is of 22 karat gold bullion with a fineness of 916.

No, PayNearby offers only buying and selling of digital gold.

Gold in grams up to 4 decimal places shall be credited to the customer’s account on receipt of funds. The gold purchased on behalf of the customers will include GST.

The minimum buy amount is Rs.500 and the maximum is Rs. 49,999.

There is no restriction on tenure. Customers can buy digital gold Daily/Weekly/Monthly which is very dynamic and convenient.

Only 1 account can be opened per customer

Commissions are paid real-time upon successful transaction

The retailer will get 1% commission on the gold purchase amount.

Customers can sell gold only after 24 hrs of the purchase date.

Through the PayNearby platform, customers shall be provided a selling price. Customers can choose to sell any amount starting with a minimum of Rs. 100.00 to a maximum of the amount of gold they own.

The selling price may be temporarily unavailable in the unlikely event of a disruption in the bullion market.

The additional charges would depend on the product chosen by the Customer. Taxes would be levied as applicable based on the transactions conducted on the Platform. 3% G.S.T

PayNearby will provide an invoice for each transaction booked to the customers to their e-mail addresses as provided while onboarding a customer. Invoices can be viewed on the platform.

The current gold buy rate indicates the current spot price for gold. The spot price is always changing and live gold quoted depicts this movement and keeps investors updated on price changes.

Account statements may be viewed on the PayNearby Platform.

The retailer has to fill in the customer’s basic details like Name, DOB, Gender, Address details and also has to upload KYC documents (Aadhaar Card) and verify the customer by taking his live picture.

The retailer will have to enter details regarding-*Weight (in gm), *amount as per today’s rate, *Add Bank Account, If the customer’s bank is IMPS supported then the customer can perform a sell transaction. However, if the customer’s bank is NEFT supported then he will have to present a passbook/Cheque book copy. Post this, the NBT operations team will verify all details and once that’s done the customer can proceed further for initiating the sell transaction. TAT is 48 hrs.

Within 48 hrs, the sell amount will be credited to the customer’s bank account.