Gold, Guest Blog

Buying Gold on EMI: The Complete Guide

An investor is always motivated by one reason before investing – the growth of his investment. For Indians, gold does it even better. Apart from being a sound investment option, Indians have some emotional bond with gold. 

Over the years, gold has proved its worth as a safe and easy investment for the long term. An investment in gold has given high appreciation over the years. That is why gold is the most preferred asset among millions of families regarding savings and investment. 

However, investing in gold requires a lot of money. This is what stops many people from investing in gold. When people have to buy gold for marriage, people are forced to borrow money from their friends or relatives. Sometimes, people even sell their assets to complete the investment. But that’s a matter of the past now. There are more innovative ways to fulfill your desire to invest in gold. You can use schemes like gold EMI and pay your loan over an extended period. Auto-invest is yet another option by which one can fulfill your dream of investing in gold without creating a hole in the pocket. 

Buying Gold Jewellery on EMI

The biggest challenge in buying gold is making a considerable investment in a lump sum. EMI makes matters easy for anyone. With the EMI option, investing in gold becomes easier. One way to overcome this is converting your purchase into EMI. And this is how you can do it:

Once you choose the jewelry you plan to buy, get in touch with the company’s customer care to avail of the EMI offer. The agent will check if the selected jewelry is available under the EMI scheme. Such schemes are available on stone-studded gold jewelry, diamond jewelry, or gold necklace with precious stones. For the sake of understanding, we can say, jewelry with at least one stone set in them qualifies for EMIs. 

Once the EMI is approved, you may pay through your Indian Credit Card and convert the total amount into easy EMIs varying from 6 months to 2 years. By following a few simple steps and a verification process, you can be a proud investor without the hassle and much waiting. 

Challenges with EMI Scheme

  • For converting your purchase into EMI, it is compulsory to have an Indian credit card. Other payment methods such as cheques, debit cards, Google Pay, PhonePe, and PayTM are not eligible for gold EMI. 
  • All the gold jewellery is not eligible for EMI. Most jewellers offer EMI only on jewellery with at least one stone. There is no EMI scheme on simple gold chains or small items. 

Digital Gold – The New Way to Purchase Gold 

Digital gold is a 24 carat 99.9% pure gold investment in virtual form. The physical gold is stored safely by the trading company in their digital vaults. No fee is charged for storing this gold. This takes away the stress and the cost of keeping the gold in bank lockers. 

Advantages of Investing in Digital Gold 

  • Investing in digital gold offers several benefits over physical gold. To start with, one can start investing as low as the amount Rs 1. 
  • Purity and price are not the issues, as prices are uniform and known to all. As experts buy gold, there are no issues regarding its purity. 
  • Also, since these trading companies store the gold deposits in their safe, there is no risk and cost attached to holding them. 
  • Like physical gold, digital gold offers unlimited liquidity and is even better. You don’t have to search for a buyer. You can sell digital gold to the trading company anytime, anywhere. Digital gold offers the opportunity of hassle-free liquidity. 

Auto-invest Plan – The More Thoughtful Way to Invest in Digital Gold

OroPocket has introduced the Auto-Invest Plan (AIP) with tokenized Gold and Silver. An AIP is just like a SIP, where you deposit a certain amount every month. AIP relieves you from the burden of a fixed EMI to be paid every month and gives stability, security, and growth.

How Does an AIP Work?

An AIP works in a way similar to a Systematic Investment Plan (SIP). There are three simple steps to buying gold through an AIP:

Set the Amount

Decide the amount you want to invest in gold- the amount may be set on a daily, weekly, or monthly basis.

One-touch Deposit

Using the payment gateway, deposit the money in the wallet. Your money will automatically be invested periodically as per the set frequency – daily, weekly, or monthly.

Redeem at Maturity

When you want to redeem your investment, sell your investment. The amount will go to your wallet. You may transfer the money from your wallet into your bank account.

How to Use OroPocket? 

OroPocket is a 100% asset-backed banking service. An investor can invest in gold without any hidden charges. OroPocket offers a 100% transparent service and costs only a transaction fee of only 0.25% on all the transactions without any additional storage fees or insurance charges. 

At OroPocket, we understand that the journey is strict when buying gold for any investment. Everyone has their requirements and challenges when it comes to a Jewellery purchase. OroPocket is here to make the dreams of our customers a reality by helping them best. OroPocket allows you to invest in gold through the Auto Invest Plan (AIP). This means you can have the flexibility to collect smaller amounts and create a fund. 

Benefits of an OroPocket AIP 

INR 100 Per Day

Start small by investing as little as ₹1 per day. Your digital assets will accumulate gradually. 

No Lock-in Period

Zero waiting now; you can withdraw via UPI anytime, anywhere without incurring any fees. 

Auto Mandate

No need to nudge yourself to transfer funds on the scheduled date. You can schedule automatic EMI payments through bank transfers from your bank account. 

Compare

It is good to compare before making the right decision; first, you can determine your ROI on various instruments by comparing.

Conclusion

EMI is an excellent way to invest in gold. However, it requires paying a fixed amount every month. There is a more intelligent alternative to invest in digital gold. Like SIP, Auto Invest Plan (AIP) is a scheme where you can decide an amount per your convenience, which gets added to your wallet as per your desired frequency. This is a better way to invest in gold with EMIs. 

OroPocket is here to make your investment journey easier with AIP and make your dreams come true. An investor can invest in digital gold, and buyers can make this opportunity count by just applying for EMI. For more information, you can visit oropocket.com/autoinvest.php.