New Delhi, Oct 29 (IANS): India's leading digital payments platform PhonePe on Friday announced that it is offering exciting cashback on gold and silver coins and bars for the Dhanteras and Diwali festival.

Users will get guaranteed 10 per cent cashback on silver coins and bars and 5 per cent cashback on Gold coins and bars purchased on PhonePe.

"With the assurance of quality, purity and convenient home delivery, PhonePe has emerged as the destination of choice for buying 24K gold and silver for millions of users across India," the company said in a statement.

To avail these exciting festive offers, new users need to download the PhonePe app, while existing users need to update to the latest app version.

Once they log in they need to click on the Gold or Silver icon under the Investments tab, choose a product, add the delivery details and pay using the payment mode of their choice.

Once this is done your gold or silver coins/bars will be delivered right to your doorstep, the company said.

This week, the company clarified that all UPI money transfers, offline and online payments (across UPI, wallet, credit and debit cards), on the payment app are free, and they will continue to be free for all users.

The company said that PhonePe does not charge for these transactions, and will not be doing so in the future also.

PhonePe has over 325 million registered users. Users can send and receive money, recharge mobile, DTH, data cards, pay at stores, make utility payments, buy gold and make investments via this platform.

PhonePe forayed into financial services in 2017 with the launch of Gold providing users with a safe and convenient option to buy 24-karat gold securely on its platform.

The platform is also accepted at over 22 million merchant outlets across India.