Dhanteras 2026: PhonePe announces 2% cashback on 24k gold, here's how to avail it

PhonePe has announced a special cashback offer on 24-karat digital gold purchases ahead of Dhanteras 2026, allowing customers to receive flat 2% cashback of up to ₹2,000. The offer will be available for one day only, on November 6, 2026, and is aimed at customers looking to purchase gold during the festive season.

According to the company's announcement dated November 2, customers must purchase digital gold worth at least ₹2,000 in a single transaction to qualify for the cashback. The offer is valid only for one-time transactions and can be availed once per user. Systematic Investment Plan (SIP) transactions are excluded from the promotion.

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How to avail PhonePe's Dhanteras gold cashback offer

Customers can access the offer through the PhonePe application by following a few simple steps. First, users need to click on the 'Buy Gold' icon on the app's homepage. They must then select the 'Buy in rupees' option and purchase 24K digital gold worth a minimum of ₹2,000.

After entering the purchase amount, customers should review the final transaction details and click on 'Proceed to Pay' to complete the purchase and avail the applicable cashback.

The offer will remain valid from 12 am to 11:59 pm on November 6, 2026. Customers should note that the minimum purchase requirement applies to eligible one-time transactions, and the cashback cannot be claimed repeatedly by the same user.

PhonePe's digital gold offering

PhonePe offers certified 24K digital gold through partnerships with MMTC-PAMP and SafeGold. According to the company, digitally purchased gold carries zero making charges and is stored in bank-grade lockers at no additional storage cost.

Customers can also sell their stored digital gold, with the proceeds credited to their bank accounts within 48 hours, according to the company.

PhonePe said more than 2.9 crore customers across India have purchased high-purity 24K gold through its platform. The company positions transparent pricing and secure storage as key features of its digital gold service.

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PhonePe's expanding digital payments network

PhonePe Limited, formerly known as PhonePe Private Limited, is an India-headquartered technology company operating across digital payments, financial services and digital distribution.

Launched in 2016, the PhonePe application had approximately 73 crore registered users as of September 2026. Its digital payments acceptance network covered more than 5 crore merchants across India.

The company's offerings include consumer payments, merchant payments, lending and insurance distribution. Its newer platforms include PhonePe Invest, which provides stockbroking and mutual fund distribution services, and PhonePe Appstore, an Android-based mobile application marketplace.