• What is Gold accumulation plan (GAP)?

      • The GAP allows you to purchase gold using your PayTM account for as low as 1g
      • 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
      • Your gold will be physically stored immediately in your name in MMTC-PAMP’s highly secured vault for up to 5 years
      • You can redeem accumulated gold in the form of gold coins/minted products.
      • There is no limit on the quantity of gold you wish to accumulate, subject to change in GAP policies.
      • 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
      • You have to make one physical redemption in the first year of your account opening
    • 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 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
      • MMTC-PAMP is the ONLY refinery in India to be certified by LBMA as a ‘Good Delivery’ refiner for Gold. This makes MMTC-PAMP products acceptable internationally across all major gold markets. These products are not BIS 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?

      • You can keep your gold maximum for 5 years from the date of purchase with us.
      • 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.
      • Once this duration is complete, it is mandatory to take delivery of the respective quantity.
    • 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 or redemption, your account will be deemed inactive.
      • In such a case, you will be sent a notification to make a transaction on your registered mobile number and email.
      • We will reserve the right to close down the account if your account has been inactive
    • What tax implications do I have, if I accumulate Gold on PayTM?

      • At the time of purchasing 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 will need to enroll in the ‘Gold powered by MMTC-PAMP’ plan.
      • Once you click on enrolling in the plan, you will be prompted to enter your name and expected delivery pin code.
      • Complete address will be an optional field.
      • If we service the pin code entered by you, you will be enrolled in the plan.
      • If not, you will not be enrolled in the plan.
    • How can I start accumulating gold?

      • You should be enrolled in the ‘Gold powered by MMTC-PAMP’ plan on the PayTM platform
      • Once you are enrolled, you can start purchasing Gold at the live rate reflected on the platform using any of the payment options provided by the PayTM platform
    • 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 starting accumulating 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 customer’s 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.
    • How do I buy gold?

      You can make an offer to buy the desired quantity of Gold at the rate displayed on the PayTM platform.
    • 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 4 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 are the modes of Rupee payments 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.
      • 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.
    • How do I withdraw my gold?

      • You can request for all or part of your gold holding, between 1 gm and multiples thereof, subject to a maximum quantity of 100 gm per day
      • 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 customer care service
    • 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.
      • Send a request to close your account. Inactive accounts with zero balance will be closed automatically
    • 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
      • In case PayTM stops hosting the Gold accumulation plan on the PayTM platform, you must sign into the MMTC-PAMP website and create a log-in to continue transacting on your 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.
    • 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.
    • 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 at your contact address and on your phone
    • 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.
      • If you redeem your gold after the Custody Period of five years, additional charges will be levied
    • 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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