Gold is a precious commodity. It is a symbol of prestige & prosperity and hence, deemed the most valuable. For ages, we have been buying gold as a savings and investment instrument owing to its value. However, it comes with it’s own set of hurdles and challenges. The high investment criteria of gold makes it unaffordable for many and that is why many of the middle class and needy are left with searching for alternate options. Digital gold comes across as a viable option for those looking to invest in the precious asset, on the go.
What is digital gold?
In simple words, digital gold refers to the buying and selling of gold digitally. Whenever someone buys gold over the web, an entity stores the same in the name of the buyer in a locker, with an authorised gold bank in India. Investors can get their gold delivered to their doorstep as and when they want, provided they accumulate the minimum eligible quantity required to do the same.
What makes digital gold an ideal savings medium?
Investing in digital gold enables you to save daily by tapping on various investment goals. Investors can save fixed amounts or achieve custom financial goals with digital gold. One can buy gold with Jar App and commence their journey with amounts as low as ₹1.
What is the Jar App all about?
Jar is a savings and investment app that enables users to save daily by allowing them to buy digital gold with no bars, whatsoever. Investors can commence their portfolio in digital gold with amounts as low as ₹1, which makes the App easy and convenient for beginners looking to save on the go. Investors can set up daily targets via UPI auto-pay, or invest custom amounts based on their needs. The Jar App rounds off your transactions online & across the web, and allows you to invest the spare change in digital gold. For example, when you spend ₹322 on Zomato, the Jar App rounds it off to ₹330 and provides you a provision to invest the remaining ₹8 in digital gold — thus automating your investments.
How to Buy Digital Gold with Jar App?
One can buy digital gold with Jar App in few easy steps:
- Sign up/Login with your mobile number.
- Enter basic details like your name, gender, father and mother’s name. That’s all you need for your starter KYC.
- Give all the necessary permissions to Jar App right from SMS permissions to manage logs. This is needed to provide you with transactional alerts and round offs.
- Setup UPI Auto-pay with your desired amount that you would want to save daily. You can choose your preferred UPI service provider whether it be Phonepe, PayTM or Gpay.
- Complete the E-mandate as asked, and that’s it. Jar App will push alerts and reminders based on your daily goals, and the transactions that you do online.
- Save daily based on your targets. Investors can also customise/add amounts as per their needs.
- Get your gold delivered to your doorstep, by entering your address and delivery details in the Jar App. Users need a minimum 0.5 gms of gold to get doorstep delivery.
It is important to note that KYC is integral to sell considerable amounts of gold or get doorstep delivery.
Is Jar App Safe?
The Jar app is led by a talented leadership and backed by key investors and India’s leading gold banks in the form of SafeGold and Augmont. The SafeGold assurance, and the instantaneous buying and selling of digital gold makes the Jar App, a viable and safe option to buy or sell digital gold.
Overall, the Jar App is for those who find it hard to get started with physical gold owing to the investment it demands upfront which can be daunting at times, for the common man. Jar simplifies this by providing an automated investment mechanism on top of UPI and SafeGold that makes investment in digital gold, fast and easy. Gold is an integral part of people’s lives and Jar makes it easy for everyone to start with the precious element of gold.