Jio Financial Services has introduced SmartGold as a feature on the JioFinance app. It allows customers to buy digital gold. Users can invest in gold starting from as low as Rs 10, providing an accessible entry point for many.
SmartGold offers a completely digital process for purchasing gold, with options to redeem investments for cash, gold coins, or jewellery. Customers can buy gold in flexible denominations, either in rupees or in grams, and can order physical gold coins for home delivery.
The physical gold corresponding to customers’ investments will be stored in insured vaults, ensuring safety and security. Users can track live market prices of gold through the JioFinance app for transparency.
Redeeming SmartGold units for cash or physical gold is straightforward, with delivery available for holdings of 0.5 grams or more, in denominations of 0.5gm, 1gm, 2gm, 5gm, and 10gm. This initiative aims to simplify the process of investing in gold, particularly during traditional buying seasons like Dhanteras.
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