Reliance My Gold Plan offers customers the unique opportunity to start accumulating physical gold using a daily average pricing methodology.
This first-of- its-kind gold accumulation plan was launched by Mr. Vikrant Gugnani, CEO, Broking and Distribution Business, Reliance Capital, and Mr. Stephen Richardson, Director-Investment, World Gold Council.
How it works?
A minimum subscription of Rs.1000 per month translates to accumulation of gold for as low as Rs. 50 per day.
The plan is 100 percent backed by physical gold which is held with a vaulting agency and is controlled by an independent trustee thereby offering maximum security and safety.
Gold will be bought through a daily averaging process. So from the day one your investment starts, gold will be bought in 20 equal tranches which is spread across the next 20 business days and the accumulated grams will be credited to your account.
Customer can avail their statement of holding on a daily basis detailing the amount of gold accumulated and the purchase price of gold in a transparent manner.
The accumulation of gold starts on the day after the realisation of funds and can be tracked using a unique Customer ID.
Gold Grams allotted will be of 24 Carat Gold of 995 fineness and upto 4 decimal points rounded down shall be allotted to the customers under the R-MGP Plan
At the end of the selected term of the plan, customers have the option to exchange their accumulated gold grams into 24 Karat gold coins or jewellery at designated fulfilment outlets across India.
Now no pre-mature termination fee on fulfillment post 1 year from the date of creation of Customer ID. Fulfillment during the lock-in period is not allowed. However, a pre-mature termination fee of 2.5% shall apply on the cumulative subscription amount paid by the customer in case of pre-mature fulfillment post lock-in period but before 1 year.
The various tenures available under the Plan starts from 1 year to 15 years with interval of 1 year. Existing customer can change the Tenure for which he/she is registered by submitting a renewal request form as detailed below.
The minimum monthly subscription amount which the customer has to commit at the time of registration shall now be Rs. 1000/- and in multiples of Rs. 100/- thereafter.
It instantly transformers your everyday savings into gold:
MY GOLD PLAN enables you to save in 24 Karat, 995 fineness pure gold daily. It is 100% secure and backed by physical gold
It makes gold accessible:
You dont have to wait till you have "enough" money. MY GOLD PLAN lets you start saving from 1000 per month
It provides you with daily price averaging:
MY GOLD PLAN splits your purchases into equal parts, spread over 20 working days of a month, thereby insulating you from price volatility
It let you convert accumulated gold easily:
MY GOLD PLAN gives you the choice to convert your accumulated gold grams into coins at multiple outlets across India.
It gives you the flexibility to choose a tenure of your choice:
You can choose from 12/24/36/48/60 months based on your objectives
The World Gold Council is the marketing partner for Reliance My Gold Plan and is providing marketing and promotional support whilst the product will be managed by RMPM.
For more details vist Reliance My Gold Plan