- Customers can now buy digital gold of 24 karats, 99.5% purity, at live market rates
- An option of converting digital gold into physical coins/bars will also be available for the customers
Bengaluru : KreditBee, one of India’s leading fintech platforms, today announced the launch of ‘KreditBee 24K Gold’, a digital gold investment product. Customers can securely buy digital gold with 99.5% purity at live market rates with a single tap on the KreditBee app. Currently, the offering is available for a select set of customers wherein they can start with a minimum investment value of as low as ₹1 and up to ₹3 lakhs. Soon, the option will be available for the larger customer base.
For the offering, the company has partnered with SafeGold, a digital platform building an ecosystem that enables consumers to transact in gold digitally. The partnership will allow customers to buy, sell, and receive vaulted gold around the clock for ticket sizes as low as ₹1, with the tap of a button. KreditBee has started this service to let customers invest in gold instantly, securely, and in real-time.
The purchased gold can also be converted into physical coins or bars and stored in a vault. In case the customer requires their physical gold in person, they can request delivery of the same at their doorstep across the country. The quantity for delivery can be as low as 0.5 gm, secured by free transit insurance from SafeGold.
Speaking on the launch, Madhusudan Ekambaram, Co-Founder & CEO, KreditBee said, “We are elated to partner with SafeGold and launch our distinctive offering ‘KreditBee 24K Gold’, which will make buying gold affordable and highly convenient for customers. It will further encourage savings by providing them with a long-term investment option while eliminating the costs of storage. Gold has always held a special place in India and is one of the most valued universal commodities. The launch of this service also aids our business diversification goal, to engage with our customers effectively and cater to their varied financial needs.”
Mr. Gaurav Mathur, Founder & MD, SafeGold, commenting on the partnership said, “Gold is an essential part of almost every Indian’s investment portfolio. We aim to empower Indians, with access to a simple, convenient and secure way to save in gold while giving them assurance on quality, purity, and price. We are honored to partner with KreditBee to enable their 24K Gold offering. This partnership will help simplify digital gold investment for millions of KreditBee users and enable them to buy gold in a few clicks.”
Key benefits of ‘KreditBee 24K Gold’:
- Quality: Guaranteed 24K Gold (99.5% purity) will be available for the customer to buy/sell
- Minimum quantity: Customer can buy gold for as low as ₹1 and up to ₹3 lakhs
- Security: Gold is stored in secure vaults that are 100% insured
- Doorstep delivery: The customer can avail delivery of gold at their doorstep or they can also get it converted to physical gold through merchant partners
· Easy Buy back: The customer can resell the stored digital gold on SafeGold at the current market price
Steps to start investing in ‘KreditBee 24K Gold’:
- Sign in to the KreditBee app
- Click on the ‘KreditBee 24K Gold’ section to begin investing in digital gold
KreditBee currently offers multiple types of personal loans and a credit-line backed prepaid card. The company further plans to diversify its product offering by venturing into digitally-enabled secured loans, home loans and credit lines, which involves expanding its lending portfolio by introducing financial services like insurance, credit score report, merchant-side offers, among others.