On May 13, 2021, Airtel Payments Bank in partnership with SafeGold, a digital gold provider, launched a digital platform called ‘DigiGold’ – for its customers to make an investment in gold.
Features of DigiGold platform:
i.Under this, Airtel Payments Bank’s saving account customers are enabled to invest in 24K gold using the Airtel Thanks app.
ii.Storage: The gold purchased under the platform will be stored by SafeGold at no additional cost.
iii.Later it could be sold through the Airtel Thanks app at any time.
iv.Minimum Investment: There is no requirement of minimum investment value, the customers could start with as low as 1 rupee.
v.DigiGold could also be gifted by customers to their family/friends only if they have a savings account with Airtel Payments Bank.
Points to be Noted:
- This platform became a new addition to the Airtel Payments Bank’s neo-banking, a part of simple, secure, and value-driven products.
- In line with RBI guidelines, Airtel Payments Bank increased its savings deposit limit to Rs 2 lakh and it offers an increased interest rate of 6 percent on deposits between Rs 1-2 lakh.
- Note – A neobank is a type of digital bank without any physical presence and branches, in turn, it functions fully online.
Recent Related News:
On April 9, 2021, Airtel Payments Bank announced its new savings account ‘Rewards123’ which offers benefits and value to customers when they transact digitally using the bank account.
About SafeGold:
Headquarters – Mumbai, Maharashtra
MD– Gaurav Mathur
About Airtel Payments Bank:
- It was India’s 1st payment bank.
Establishment – January 2017 (by Bharti Airtel)
Headquarters – New Delhi
MD & CEO – Anubrata Biswas
