Buying digital gold and silver already gives people the flexibility to purchase precious metals online in amounts that suit them. MMTC-PAMP has now introduced SIP for both metals, allowing users to plan recurring purchases according to their preferences.
The feature allows users to schedule recurring gold or silver purchases instead of setting up each transaction separately. An instalment can start from ₹10, with Daily, Weekly, Monthly and Quarterly frequency options available for both metals.
For users looking to make digital gold or silver purchases more systematic, the SIP brings the amount, frequency and schedule into one setup.
A digital gold or silver SIP is a recurring purchase feature that allows users to accumulate their preferred metal over time. Users decide the amount they want to purchase with each instalment and select how frequently those purchases should take place.
The amount can range from ₹10 to ₹15,000 per instalment. Users can choose between Daily, Weekly, Monthly or Quarterly frequencies, depending on how they want to space their purchases.
Once the SIP is activated, the selected amount is used to purchase digital gold or silver automatically at the defined frequency. The quantity of metal purchased with each instalment depends on the applicable gold or silver price at that time.
Here, SIP refers to the recurring purchase method. Like a mutual fund SIP in structure, it allows users to set aside a fixed amount at regular intervals. However, the amount is used to purchase digital gold or silver instead of mutual fund units.
A digital gold or silver SIP can be useful for someone who intends to purchase precious metals regularly and wants to plan those transactions in advance.
It can suit users who prefer allocating smaller amounts over time rather than making a larger purchase at once. With a starting amount of ₹10, the instalment can be selected according to the amount the user is comfortable setting aside.
The range of frequency options also lets users align purchases with how regularly they want to set money aside. Someone who prefers frequent additions can opt for daily or weekly purchases, while monthly or quarterly options provide longer intervals between transactions.
It can also work well for goal-based buying, whether that means building gold/silver for a wedding, setting aside for a future anniversary, planning a festive purchase, preparing for gifting, or simply creating a dedicated corpus over time.
Setting up the SIP involves choosing the purchase amount and frequency, followed by an auto-debit mandate. Once activated, the SIP can be accessed through the View SIP section. Here’s a step-by-step breakdown of the process:
Start from the SIP section and select ‘Gold’ or ‘Silver’ as the metal type.
Choose how much should be purchased with each instalment. The amount can start from ₹10 and go up to ₹15,000.
Choose how regularly the purchase should take place. The available options are:
Daily
Weekly
Monthly
Quarterly
The order summary shows the chosen SIP amount and frequency, along with the first and last debit dates.
Users can give the SIP an optional name. This can be used to identify the purpose behind a particular plan.
The next step is to agree to the auto-debit mandate and associated terms and conditions. A refundable ₹2 charge is used to verify the auto-pay mandate. The amount is then refunded to the account.
Once the required information and mandate are completed, the SIP can be activated. A successful transaction takes the user to the confirmation page. The created SIP can later be accessed through the ‘View SIP’ section.
Both digital gold SIP and digital silver SIP allow users to accumulate their chosen metal through scheduled purchases. The setup process, instalment options and available frequencies remain the same for both.
The primary difference lies in the underlying metal. Gold and silver have distinct market prices and price movements, which influence how much of each metal users accumulate with every instalment. Users can select either option based on their purchase goals, preferences and overall financial plan.
Here are some key benefits of starting a digital gold SIP or silver gold SIP:
Each SIP instalment purchases gold or silver at the price applicable on that date. When prices are lower, the same amount buys a greater quantity of the selected metal, while higher prices result in a smaller quantity. This spreads purchases across different price levels instead of committing the entire amount at once.
Instead of setting aside a larger amount at once, users can divide the purchase into smaller instalments and plan it around their regular income and expenses.
Waiting for the right price can delay a purchase. An SIP follows a set schedule, so users do not have to make a fresh price decision every time.
An SIP can support a goal that is several months away. For example, someone planning a wedding next year can start buying digital gold every month instead of waiting until the event is closer.
Users can choose how much they want to buy and how frequently they want to do it. This makes it easier to match the plan with the amount they are comfortable setting aside.
Digital gold and silver offer a convenient way to purchase precious metals without managing physical storage at home. They can also provide exposure to precious metals alongside other assets in a portfolio. Their digital format makes it easier to track holdings and purchase according to the amount users want to allocate.
A SIP adds more structure to this approach by spreading purchases across time and allowing users to choose an amount and frequency that suit their plan. With MMTC-PAMP, users can start a digital gold SIP or digital silver SIP based on the metal they want to accumulate and the role it can play in their overall portfolio.
Explore the options and choose the one that best fits your purchase plan.
SIP stands for Systematic Investment Plan. In digital gold and silver, it refers to purchasing the selected metal at recurring intervals based on a predefined amount and frequency.
The minimum instalment amount is ₹10, while the maximum is ₹15,000 per instalment.
Users can set up SIPs for gold and silver separately, choosing the amount and purchase frequency for each metal.
No. Digital gold and silver do not earn interest. Their values change according to the applicable market prices of the respective metals.
No. Neither digital gold nor digital silver SIPs guarantee returns. The value of accumulated holdings can increase or decrease with changes in gold and silver prices.
A digital gold SIP is a recurring purchase feature within the existing digital gold service. Users decide the amount they want to purchase with each instalment and select how frequently those purchases should take place.
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