The offer is valid for one-time transactions per user.
Dhanteras, which marks the beginning of the five-day Diwali festival, is traditionally considered an auspicious time for buying gold and other precious metals. Consumers often purchase gold as a form of investment or for gifting during the festive season.
In recent years, digital gold platforms have emerged as a convenient alternative to physical gold, allowing users to buy, hold, and sell gold without storage concerns.
The platform allows customers to buy 99.99% purity-certified gold from providers such as MMTC-PAMP, SafeGold, and Caratlane.
In addition to one-time purchases, PhonePe offers options to invest in digital gold via daily or monthly systematic investment plans (SIPs), with flexibility to start with as little as ₹5.
Gold holdings can also be sold anytime, with proceeds credited directly to users’ bank accounts.
How to avail the cashback offer:
- Open the ‘Digital Gold’ section on the PhonePe app.
- Select ‘Buy Digital Gold’.
- Choose “Buy in rupees” and add a minimum of ₹2,000 worth of 24K gold.
- Verify the purchase details and proceed to pay.
The offer runs from 12:00 AM to 11:59 PM on October 18, and is applicable only once per user.
PhonePe, launched in 2016, provides digital payments, financial services, and digital distribution platforms.
As of March 31, 2025, the app has over 61 crore registered users and a network of more than 4.4 crore merchants across India.
