Siply, micro-savings platform, launches a gold savings scheme for small savers

Micro-savings platform Siply has announced a new program it says will make gold accessible to everyone. From now on, you can set yourself the goal of buying gold by saving small amounts daily and thus cover the planned monthly payment at your own pace, he specifies in a press release.

Founded by Sousthav Chakrabarty and Anil Bhat in 2020, Siply claims to have tailored its new gold savings program to allow users to purchase 24k gold coins at the “most affordable price”.


Depending on the financial situation of the buyer, he can choose to buy a gold coin weighing either 0.5 grams or 1 gram. Installments start at just Rs 450 per month for a 1g gold coin and Rs 250 for a 0.5 gold coin. These installments are to be paid over a period of 10 months, but the monthly amount can be divided into smaller parts as per your convenience.

Sousthav Chakrabarty, CEO and Founder, said, “Users can enjoy the dual benefits of getting a good discount and the ability to spread their monthly payments into smaller amounts throughout the month. If you happen to miss a payment, you can always cover it anytime during those 10 months.”

Chakrabarty said the program also protects against market price swings typically associated with gold. “Even if the market price of gold increases, Siply users can continue with the rate they started the program with,” he added. After 10 months, the part is delivered to the buyer at no additional cost, Chakrabarty said.

Posted: Friday, March 25, 2022, 6:40 PM IST