• What is Gold accumulation plan (GAP)?

      • The GAP allows you to purchase gold using your Paytm account for as low as Re.1/-
      • You can buy & sell in fractions for example. 0.1 gm or in Rupees, for example Re.1 or Re. 2 etc
      • You may purchase gold 24 hours a day, 7 days a week, 365 days a year, including public and bank holidays
      • You will be able to see the live price of Gold, real time on Paytm platforms including website, mobile application etc. in order to make your decision
      • You can redeem accumulated gold in the form of gold coins/minted products.
      • You can also sell back your gold holdings to MMTC-PAMP through Paytm platform at the rate displayed on the Paytm platform This money gets credited into the bank account details provided by you.
      • This is not a Collective Investment Scheme or a systematic investment plan – you will not earn any interest on your investment, and you will not be required to put in monthly installments for the same
      • You are not allowed to buy and redeem gold on the same day
    • Who is MMTC-PAMP India Private Limited?

      • MMTC-PAMP India Pvt. Ltd. Is a joint venture between MMTC Limited, a Govt. of India undertaking and PAMP Switzerland, global leader in refining bullion and global referee for precious metals. For more details, please visit: http://www.mmtcpamp.com/
      • MMTC-PAMP is India‟s first and only London Bullion Market Association (LBMA) Good Delivery accredited Gold & Silver refinery.
    • What is 9999 fine Gold?

      • 9999 gold is the purest form of Gold used for trading purposes across the world
      • 24 karat gold is of 99.9% purity, while the gold you buy through GAP is at least 99.99% pure.
    • Are the coins hallmarked?

      • Across the world, the standard for the highest quality gold is set by an organization called the LBMA
      • LBMA stands for London Bullion Market Association, which is an International trade association representing the market for gold and silver Bullion with a global client base. LBMA‟s main role is setting and maintaining global standards for gold and silver, universally recognized as the de-facto standard of quality assured and assayed bullion. For more details, please visit:  http://www.lbma.org.uk
      • Note that MMTC-PAMP is a BIS certified refinery. Hallmarking is done for only Gold items of 14, 18 and 22K. 24K Gold is not hallmarked.
    • Is Paytm legally allowed to sell Gold on their Platform?

      The seller is MMTC-PAMP India, India‟s largest gold refinery. Paytm is only providing a platform for the customer to access the Gold accumulation plan.
    • Who is the custodian of my gold till withdrawal?

      • At no point does the ownership of your accumulated Gold transfers to either Paytm or MMTC-PAMP.
      • MMTC-PAMP is the custodian of your accumulated Gold, right from the point you buy Gold in GAP on Paytm.
      • We secure your gold in physical form until you redeem the gold.
      • The vault is fully insured for all eventualities.
    • Is it possible to store my withdrawn gold coins and bars in safe custody and have them delivered later?

      • Once you place a redemption request, you have to accept the delivery made to you. It cannot be made at a later date.
    • Is there any frequency at which I need to make transactions to keep my account active? Alternatively, what makes my account inactive?

      • In case there has been no transaction made through your account for 6 continuous months, either a buy, sell or redemption, your account will be deemed inactive.
      • We will reserve the right to close down the account if your account has been inactive. In such cases the gold held in your account will be liquidated at the “sales price” derived by MMTC-PAMP on the day of liquidation and the complete amount from these proceedings will be kept separately in a “dedicated GAP account” maintained by MMTC-PAMP.
      • You can claim the amount by raching out to MMTC-PAMP and providing relevant ID proofs and account details for settlement.
    • What tax implications do I have, if I accumulate Gold on Paytm?

      • At the time of purchasing, selling and redeeming Gold, all applicable taxes are included in your invoice.
      • These taxes are over and above the displayed price of the gold
    • Are my Gold account details shared with any tax authorities?

      No. In case of any enquires by government authorities, we will have to provide the requested information.
    • In case I relocate to outside India, can I continue accumulating Gold?

      No, GAP is available only for residents of India. It is not possible to continue accumulating Gold if you relocate outside India. Before relocating, you will have to redeem the gold accumulated in your account at a Paytm serviceable pin code.
    • Can I visit the vault to inspect my Gold physically?

      No. However, you can view recordings of our facility.
    • How do I open my account for GAP?

      • You need to be a registered Paytm user with a valid Paytm Log in ID and password
      • Using your Paytm log in, you can access the the „Gold powered by MMTC-PAMP‟ plan.
      • Once you click on the Gold icon, you will be prompted to enter your name and expected delivery pin code. If we service the pin code entered by you, you will be enrolled in the plan.
      • If not, you will not be able to buy Gold.
    • What are the documents I need to submit for accumulating Gold?

      • You will need to submit your name, registered mobile number and pin code at the time of initiating your accumulation of Gold. In case your cumulative transaction value in the GAP account crosses INR 50,000, you will be required to adhere to the prevailing KYC norms.
      • In case a single transaction value crosses INR 2 lakhs, you will be required to submit your Pan Card details.
    • What if any of my KYC details are changed?

      It is your responsibility to update KYC with Paytm
    • What are the registration fees for GAP?

      There is no registration fee; registration for GAP is free of cost. Any valid Paytm account holder can participate in this plan.
    • How do I buy gold?

      You can make an offer to buy Gold at the rate displayed on the Paytm platform in either Rupees or grams. For example, you can buy gold worth Re 1 and above or 0.1 gram and above
    • What is the live gold price?

      Live rate of Gold means the Gold rate in Indian rupees per gram of 9999 fine Gold, as posted from time to time, inclusive of duty, exclusive of taxes, product manufacturing/making charges, delivery charges etc.
    • How often does the live price change?

      The live price is updated frequently.
    • How long is the live price valid for completing a transaction?

      The live price, at which you choose to buy Gold, will be valid for 6 minutes from the time of you clicking on the option to buy. In case you fail to complete the transaction by making the payment, you will be redirected to the new live price, at which point you can restart the transaction to make a fresh offer to buy.
    • What modes of Rupee payments are accepted?

      • Paytm wallet
      • Debit/Credit cards
      • Net Banking
      • ATM Card
      • Or any other mode of payment as Paytm may make available on their platform
    • After purchasing gold, when can I see gold grams credit into my metal account?

      • After making the payment, when MMTC-PAMP accepts your offer to buy, you will receive an invoice and the said quantity will be reflected in your Paytm Gold account under Locker balance.
      • In the rare event of any non-availability of metal or instances of technical failure, MMTC-PAMP may reject your offer to buy. The amount paid by you will be refunded as per the Paytm norms.
    • Can I cancel my gold purchase?

      Once MMTC-PAMP has accepted your offer to buy, cancellations or refunds are not allowed.
    • What is the maximum period for which MMTC-PAMP will store my Gold?

      • You can buy and store your gold for a period of 5 years from the date of purchase with us.
      • This will be kept in safe custody
      • You can sell/withdraw your gold anytime within these five years.
      • When you want to withdraw your gold, you have to select in which denomination you want to withdraw it. You will have a range of minted products to choose from.
      • Once this duration is complete, it is mandatory to sell or take delivery of the respective quantity.
      • In case of multiple purchases on different dates, you can keep your gold with us for 5 years from the date of purchase for each specific transaction. If you redeem your gold after the Custody Period of five years, additional charges, as applicable at that time will be levied
    • How do I sell the Gold I have accumulated?

      • You can offer to sell your Gold accumulated on Paytm in either Rupees or Gram. For example, you can offer to sell either 0.1 gram or Re 1 and above
      • Your Gold account holdings should be equal to or higher than the quantity you offer to sell
      • You will be required to share your Bank account number and IFSC code to enable the sell transaction.
      • After paying the convenience fee, you will immediately see the amount credited in your bank account while the Gold balance in your Gold account will be debited.
      • In the rare event of any technical failure, MMTC-PAMP may reject your offer to sell. The quantity offered by you to sell will be credited as per the Paytm norms in your Gold account.
    • How do I withdraw my gold?

      • You can request for all or part of your gold holding, between 1 gm and multiples thereof
      • You can select the quantity and denomination of the gold you wish to withdraw from the available options of coins on the Paytm platform
      • Each coin will have different making charges, based on the weight and design of the coin
      • You must confirm the transaction by paying the additional making and delivery charge.
      • Your gold product will be delivered at your notified address by a logistics provider arranged by Paytm, and you will receive a confirmation on your Paytm registered mobile number.
      • You can track the delivery by logging on to your account from time to time.
    • What are making and delivery charges?

      • Making charges are the costs of manufacturing/minting Gold into a coin
      • This includes the cost of packaging the coin in tamper proof Certicards
      • Delivery charges are the logistics cost to deliver high value gold safely to your location.
    • Can I put in a different address from the one I used at the time of registering for the plan?

      • Yes. You can enter a different address. However, if this pin code does not fall in our serviceable area, you will be prompted to enter a different address.
      • If your address is not serviceable at the time of redemption, you will be given the option to pick up the delivery from the nearest registered MMTC-PAMP registered office.
    • Is it possible that after choosing a specific product, I get intimation saying the product is out of stock? In such a case what do I do?

      • The charges paid by you at the time of redemption will be refunded to your account
      • You can then select another product from the available list on the Paytm platform.
    • When will I receive the delivery?

      • You will be intimated about the expected delivery time, at the time of placing the order.
      • The product will be delivered to you within 14 working days from the time of placing the order on the Paytm platform, subject to delays due to unforeseen circumstances.
      • You will receive a notification sent to your registered mobile number and the e-mail address on your account advising shipment is en route.
    • What happens in case I receive a different product or damaged goods?

      • MMTC-PAMP explicitly urges to all its customers to inspect the package for any damage or tamper before receiving or signing for receipt.
      • If you find any tampering, do not accept the parcel and return the same.
      • MMTC-PAMP will not be liable for any loss or damage caused if the customer accepts the parcel in spite of it being damaged or tampered.
      • The duty to verify the parcel for any damages or tampering is of the customer and if the customer accepts the parcel and later comes to know of any damage or tampering, MMTC-PAMP shall not be liable for any loss or damage to customer.
      • If such loss is later reported and approved by logistics partner and Insurance Company, the limit of liability shall be restricted to the amount paid by the logistic partner for such loss or damage in transit as per their terms and conditions and the same shall be binding upon the customer.
    • Who is responsible in case my Gold is not delivered to my address?

      • Your product is delivered only against the unique OTP sent on your registered mobile number.
      • Kindly ensure that you do not share your OTP with anyone.
    • What happens in case of a failed attempt to deliver to me?

      • Delivery to your address will be attempted three times. If you are not available at your mentioned address to accept the delivery, after the third time you will have to pick up the package from MMTC-PAMP‟s nearest registered office.
      • For details, contact Paytm customer care service – 0120 3888 3888
    • How do I close my account?

      • Login to your account.
      • Ensure your metal balance is NIL by withdrawal of any balance and by taking delivery of any withdrawn gold in storage.
      • Inactive accounts with zero balance will be deemed closed automatically
    • What happens if I do not respond to your email to make a transaction?

      MMTC-PAMP reserves the right to liquidate the Gold holding and treat the proceeds in accordance with applicable laws. A customer account will be treated as inactive if no transactions happen in 6 months
    • How many attempts will you make to reach out to me? Your email could go to my spam or I could miss it and not receive your message?

      It is your responsibility to be available on your phone and/ or on contact address and on your phone
    • Account information

      • You are responsible for keeping your Paytm account details in a secure manner corresponding to existing Paytm terms and conditions,
      • MMTC-PAMP will act solely on instructions received on the Paytm platform, and will not be liable for any losses/ liabilities due to a breach/misuse of your Paytm account
    • How can I be assured that the gold coins delivered to me are genuine and trust worthy?

      • The gold coins are directly dispatched from MMTC-PAMP manufacturing unit.
      • All the coins are delivered in sealed tamper proof packaging.
      • All the dispatches are camera recorded at the time of dispatch.
      • In case of any issues, contact customer care service
    • How can I trust the delivery will be made to the correct person?

      Our delivery process is highly secure and we authenticate the delivery to the correct name and address using an OTP verification.
    • What happens in case I do not receive an OTP?

      • If the delivery person reaches your doorstep, and you do not have an OTP, the delivery will not be made to you.
      • In such cases you need to contact customer care services.
    • Who will you deliver to, in case I did not respond?

      We can only deliver to the designated person as mentioned at the time of placing the delivery request.
    • What will you do with my Gold, if I die?

      • In such case, it becomes the customer‟s legal heir‟s responsibility to inform Paytm/ MMTC-PAMP.
      • The account will then be closed and the legal heir has to take a physical delivery.
    • In case of any natural disaster, if the Gold in MMTC-PAMP vault is destroyed or in case of theft, will I lose all the money used in buying my accumulated Gold?

      No. You will not lose your money. The vault is fully insured for all eventualities.

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