GRT Gold Savings Scheme: Who Should Opt For GRT Eleven Flexi Plan?

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GRT is a popular jeweller from South India, who has managed to carve its name amid other popular and branded jewellers in India. G.R. Thanga Maligai which is popularly known as GRT was founded in 1964 in Chennai and now it is spread across Hyderabad, Bangalore.

GRT Gold Savings Scheme: Who Should Opt For GRT Eleven Flexi Plan?

Features of GRT Golden Flexi Plan

GRT Golden Flexi plan is a specialized gold savings scheme created to help customers to build gold portfolio over months.

Once an individual enrolls for the scheme, he can select a certain amount as monthly advance payment which is as low as Rs 500. Individuals have to just pay eleven equal monthly advance payments and for the last month, he or she is eligible to buy jewellery of choice.

Individuals can buy gold jewellery except special items like diamond, platinum, ruby, emerald, ethnic and vintage jewellery, pooja items, silver articles.

There are two options which a customer can opt. That is value based or the gold weight based option.

Gold accumulated will be updated in the pass book on a monthly basis at the time of making the advance payment. GRT members can purchase gold coins without Wastage (VA) and making charges.

In case if a member fails to buy jewellery within the 12th month from the date of enrollment, the company can refund the total advance amount paid without any benefit and the same will be sent directly to the member's registered address by cheque or through bank transfer.

Things to know about installments

  • Payments can be made by cash, cheque, DD or online, ECS and should reach GRT before 10th of every month. 
  • If a member fails to make one payment, the plan will be discontinued automatically and he will not be eligible for "No Wastage" as per terms. 
  • If a member discontinues during 8th and 9th month he will be eligible to discount 60 per cent of wastage value on the accumulated amount. 
  • VAT and other charges will be borne by members only. 

Who should opt for Golden Eleven Flexi Plan?

Individuals who are planning to opt should know that an installment paid every month will be deposited in their gold account at the rate that is prevailing at that time. Investing in this plan ensures that the gold invested is protected from fluctuating gold prices.

Members can choose weight based plan, value based plan option on the maturity at the time of purchase. Upon redemption on maturity there are no charges for wastage upto 18 per cent and no VAT.

Individuals who are looking to buy gold jewellery next year and not as an investment can consider this option.

Story first published: Wednesday, October 19, 2016, 12:31 [IST]
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