Will I be charged a fee by MMTC-PAMP, Safegold or CaratLane for gold storage?
MMTC will store your gold in a secure bank-grade digital locker at no additional cost for upto 5 years from the date you first purchased gold on PhonePe. However, you will be charged storage and custody fees after 5 years. If you don’t wish to pay these fees, you can choose to sell the gold or get it delivered to you.
Safegold will store your gold in a secure bank-grade digital locker at no additional cost for upto 5 years from the date you first purchased gold on PhonePe. The maximum storage time alloted to each customer is 10 years from the time of the purchase. However, you will be charged storage and custody fees (0.3% per annum by Safegold) after 5 years. If you don’t wish to pay these fees, you can choose to sell the gold or get it delivered to you.
Caratlane will store your gold in a secure vault at no fee for a period of 10 years. You will have to redeem or sell your digital gold after this period.
Learn more about the maximum holding period for the gold you buy on PhonePe.