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[Last Day] Phonepe - Gold Dhamaka Days - Assured Cashback upto 4000 ( 6 - 8 May)

638°
76000
5% OFF 80000.0
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Ic3
Deal Major
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[Last Day] Phonepe - Gold Dhamaka Days - Assured Cashback upto 4000 ( 6 - 8 May)
Deal Expired

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Deal Wiki

What is the offer?

Get 5% up to ₹4000/- cashback* on Gold Purchase on PhonePe
Maximum Cashback customer can avail is ₹4000 per user during offer period.
Maximum Cashback customer can avail is ₹2000 per Buy transaction during offer period.
No minimum Gold Purchase transaction Amount to avail the offer

What is the eligibility criteria?
Customer will get the offer on their Gold Purchase transaction during offer period on PhonePe
Valid only on UPI, Credit or Debit Cards

What is the offer duration?
00:00 hrs 6th May 2018 to 23:59 hrs 8th May 2018

How many times can this offer can be availed?
Offer can be availed 2 times per user on their Gold Purchase transaction during offer period.

How do I avail the offer?
On your PhonePe app
Click on Gold Icon within “Buy on PhonePe” section of the app
Enter the amount/gms of gold you wish to purchase.
Pick the payment option for the same
Click on BUY to complete the transaction.

When do I get the cashback / benefit?
Cashback will be credited as PhonePe gift voucher balance within 24 hours of successful completion of the transaction.

What happens if I am eligible for more than one offer?
If you are eligible for more than one offer, the offer giving you the maximum Cashback is automatically picked up for you

What happens in case of refund/cancellation of my Transaction?
Once gold purchase transaction is Processed , it cannot be cancelled or returned.
In case of a payment failure during the gold purchase, the amount will be refunded back to you within 2 working days.
In case of any cancellations, the cashback given on the transaction will continue to remain as gift voucher balance and non-withdrawable to your bank account. This can continue to be used on PhonePe (recharges, bill payments, etc.)
Refunded amount less of cashback will be credited to back to the source of funds used while making payment

27 Comments  |  
14 Dimers
Ic3
Deal Major
558
28,436
22302
126

What is the offer?

Get 5% up to ₹4000/- cashback* on Gold Purchase on PhonePe
Maximum Cashback customer can avail is ₹4000 per user during offer period.
Maximum Cashback customer can avail is ₹2000 per Buy transaction during offer period.
No minimum Gold Purchase transaction Amount to avail the offer

What is the eligibility criteria?
Customer will get the offer on their Gold Purchase transaction during offer period on PhonePe
Valid only on UPI, Credit or Debit Cards

What is the offer duration?
00:00 hrs 6th May 2018 to 23:59 hrs 8th May 2018

How many times can this offer can be availed?
Offer can be availed 2 times per user on their Gold Purchase transaction during offer period.

How do I avail the offer?
On your PhonePe app
Click on Gold Icon within “Buy on PhonePe” section of the app
Enter the amount/gms of gold you wish to purchase.
Pick the payment option for the same
Click on BUY to complete the transaction.

When do I get the cashback / benefit?
Cashback will be credited as PhonePe gift voucher balance within 24 hours of successful completion of the transaction.

What happens if I am eligible for more than one offer?
If you are eligible for more than one offer, the offer giving you the maximum Cashback is automatically picked up for you

What happens in case of refund/cancellation of my Transaction?
Once gold purchase transaction is Processed , it cannot be cancelled or returned.
In case of a payment failure during the gold purchase, the amount will be refunded back to you within 2 working days.
In case of any cancellations, the cashback given on the transaction will continue to remain as gift voucher balance and non-withdrawable to your bank account. This can continue to be used on PhonePe (recharges, bill payments, etc.)
Refunded amount less of cashback will be credited to back to the source of funds used while making payment

Ic3
Deal Major
558
28,436
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Kings collection 007.jpg.cf
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Can we buy n sell immediately.. How much is difference in buying n selling price

Nice dp for whatsapp
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bupenjain596 wrote:

Can we buy n sell immediately.. How much is difference in buying n selling price

i bought worth 50k during april
after 24 hrs selling price was 46.7k only

net loss of 800 rupees (after cb) cry

4t2f
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bupenjain596 wrote:

Can we buy n sell immediately.. How much is difference in buying n selling price

I think price difference is 2_3% from some YouTube videos. Help fAQ says waiting time of 24 hours to sell

Kings collection 007.jpg.cf
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vishal_ag wrote:

i bought worth 50k during april
after 24 hrs selling price was 46.7k only

net loss of 800 rupees (after cb) cry

Thanks for saving me bro..

Img 20170617 wa0010
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First of all buying is higher and selling is lesser price. Second while you buy you have to pay 3% GST which is the flat difference you have to bear while selling. Third you must have to wait 24 hours to sell your gold you bought. Once you calculate all this the buying > selling price by 5-7%. So think before you want to invest or buy on phonepe.

S chiru 20180215 095645
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Walter-O-Brien wrote:

First of all buying is higher and selling is lesser price. Second while you buy you have to pay 3% GST which is the flat difference you have to bear while selling. Third you must have to wait 24 hours to sell your gold you bought. Once you calculate all this the buying > selling price by 5-7%. So think before you want to invest or buy on phonepe.

Well said by Brien… But if you have high wallet balance(phonepe,fc,jio and Airtel wallet) and convert to balance and you willing to take the margin 1-2% (after Cashback)… Then this definitely a wonderful deal wink

Loveeeeeee 2ifgch7s%281%29
Deal Subedar
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Walter-O-Brien wrote:

First of all buying is higher and selling is lesser price. Second while you buy you have to pay 3% GST which is the flat difference you have to bear while selling. Third you must have to wait 24 hours to sell your gold you bought. Once you calculate all this the buying > selling price by 5-7%. So think before you want to invest or buy on phonepe.

Wait period to sell is 72 Hours right ?

last time i had to wait 72 hrs to sell, yesterday also tried but was saying to wait 72 hrs .

Singh is king
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itzdreaming wrote:

Wait period to sell is 72 Hours right ?

last time i had to wait 72 hrs to sell, yesterday also tried but was saying to wait 72 hrs .

its better to wait and sell when price increases a little…

Img 20170617 wa0010
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itzdreaming wrote:

Wait period to sell is 72 Hours right ?

last time i had to wait 72 hrs to sell, yesterday also tried but was saying to wait 72 hrs .

No minimum 24 hours !

Loveeeeeee 2ifgch7s%281%29
Deal Subedar
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Walter-O-Brien wrote:

No minimum 24 hours !

did u try recently,

2 weeks back durinf akshay tritiya i had to wait exactly 72 hrs to sell the gold. Yesterday after purachsing when i tried to sell instantly same msg was shown

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itzdreaming wrote:

did u try recently,

2 weeks back durinf akshay tritiya i had to wait exactly 72 hrs to sell the gold. Yesterday after purachsing when i tried to sell instantly same msg was shown

I tried it on Akshya Trithiya offer and then later also last week. I am allowed to sell the gold as soon as 24 hours completed. You may be using multiple phonepe account on same device due to which as a security measure they may be allowing you to sell after 72 hours.

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Star_Chaser wrote:

Well said by Brien… But if you have high wallet balance(phonepe,fc,jio and Airtel wallet) and convert to balance and you willing to take the margin 1-2% (after Cashback)… Then this definitely a wonderful deal wink

Absolutely correct then this method is good to concert earned cashabck into real money.

Missing
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Singh_is_King wrote:

its better to wait and sell when price increases a little…

Chances of Gold Prices falling are more…

Loveeeeeee 2ifgch7s%281%29
Deal Subedar
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Walter-O-Brien wrote:

I tried it on Akshya Trithiya offer and then later also last week. I am allowed to sell the gold as soon as 24 hours completed. You may be using multiple phonepe account on same device due to which as a security measure they may be allowing you to sell after 72 hours.

i use phone on 1 device only, dont know y for me 72hrs anyways thanks 4 sharing info

Volvarine kid
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All this sound so risky…

Redhat
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Singh_is_King wrote:

This multi-billionaire have put half of his Wealth in Gold

https://www.moneycontrol.com/news/business/why-...

You still think Gold will fall and he will be completely wrong? sunglasses

People do mistakes so this MB can too. Before all of the scams Nirav Modi was also a successful rich person but now he is known as cheater. Anyway, I think you got the meaning.

Redhat
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itzdreaming wrote:

i use phone on 1 device only, dont know y for me 72hrs anyways thanks 4 sharing info

When something goes wrong for someone but not for others people always give such nonsense reason of using multiple account or other vague reason. They act like all these companies behind all these app wallets are godly like they can’t cheat their customers or do any mistake.

Anyway, send email to phonepe cc to rectify the issue you are facing.

Loveeeeeee 2ifgch7s%281%29
Deal Subedar
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topgear wrote:

When something goes wrong for someone but not for others people always give such nonsense reason of using multiple account or other vague reason. They act like all these companies behind all these app wallets are godly like they can’t cheat their customers or do any mistake.

Anyway, send email to phonepe cc to rectify the issue you are facing.

Last time I mailed said to wait 72 hrs…

Missing
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2 weeks back, when the same offer was there, I bought for 50k and I had to wait for 72 hours. I tried raising ticket multiple times to check why they raised the waiting time from 24 hours to 72 hours without intimation. (As per their T&C and FAQ, it was 24 hours). But, the dumb representatives kept telling different stupid reasons.

Though, I did not loose anything extra because of extra 2 days wait I still raised tickets continously to get an answer. I got a call saying that high value gold sales will be having 72 hours limit for security reasons.

With low selling price, GST and 72 hour waiting period, It is risky to use this 5% cashback offer. Last time, I used this offer knowing the risk because, I already made 1+ lac worth transactions in my Amex card. So, I thought to use this for extra 50k to get 6k worth hotel voucher.

Hitman logo carbon by kelevra2oo9
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Post sale of Gold, can i transfer the balance to bank?

so the transaction flow is: Credit Card —> Buy Gold on PhonePe —> Sell Gold (profit or loss depending upon sell price) —> Bank Transfer (@0% charges)

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Unknown wrote:

Post sale of Gold, can i transfer the balance to bank?

so the transaction flow is: Credit Card —> Buy Gold on PhonePe —> Sell Gold (profit or loss depending upon sell price) —> Bank Transfer (@0% charges)

By default, it gets transferred to your linked bank account only. It will not go to your wallet. So, no problem in that.

Hitman logo carbon by kelevra2oo9
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prasathvishnu258 wrote:

By default, it gets transferred to your linked bank account only. It will not go to your wallet. So, no problem in that.

Thnx

Missing
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I tried this time too. And, sale was restricted for 72 hours. PhonePe does not have any proper answer on why 72 hours restriction when their T&C says 24 hours. As usual, they say its for security reasons.

Overall, after 5% cashback, I had 1 percent loss. So, its not a good option for profit, not at all. I used it to get 50k for 2 months without interest. So, use it carefully, otherwise, you will end up in losses

Missing