Indians love for gold is proved time and time again. No matter what, Indians love to buy gold irrespective of the occasion. Despite fall in prices, investors prefer to hold gold as an investment as it is considered as hedge against inflation.
Many jewellers in India offer schemes where an individual can buy gold at the end of the tenure. Scheme and benefits vary with jewellers depending on the investment.
Individuals can consider gold schemes when they are not able to buy jewellery at one go. Here they can make monthly small installments to buy the item at the end of the tenure.
Here are some of gold schemes one can consider:
Bhima Gold Tree
Bhima Gold Tree is a gold jewellery purchase plan from Bhima. Here the main advantage is your savings grow and a bonus will be paid on the savings and there is no risk of physically storing the gold.
Each time you deposit an amount, it is credited to your account in equivalent weight of 22 karat gold of the same value.
The duration of the plan shall be for a period of two calendar years from the date of starting the scheme. The amount should be a multiple of Rs 250, and the cash you pay is converted into gold of equivalent value
Individuals have to do is pay eleven equal monthly advance payments. After making the advance payment for the last month, you can buy jewellery of your choice.
Interesting people can start the scheme with Rs 500 on wards. The customer can opt for either the value based or the gold weight based option.
While, purchase of Diamond, Platinum, Uncut Diamonds, Ruby, Emerald, Ethni without wastage/Value addition (VA) charge are not eligible for the scheme.
PC Jewellers - Jewels For Less
As per the scheme, it offers installment payments of 14 months and 20 months.
The minimum amount which a customer can deposit is Rs 2,000 and a maximum Rs 6,000. Under the scheme, the customer will be eligible to purchase jewellery along with benefit in the form of discount which will be equal to two months installments.
Reliance- Golden Steps Jewellery Purchase
Individuals can save as low as Rs 1000 every month towards the scheme. Individual can earn up to 85 per ent of one month installment at the end of the scheme for 11 months and 20 per cent of one month installment for 6 months scheme.
Installments can be paid in cash, debit card, credit card on or before due date every month.
Individuals can redeem by purchasing jewellery or coins from any Reliance Jewels showrooms for an amount equal to installment paid plus discount under the scheme.
Abhushan- Swarna Sangraha
It is a 15 months Jewellery savings scheme, with a minimum monthly installment of Rs 1000/- for customized wedding purchases, with a fixed monthly installment.
Individuals can opt for scheme from Abhushan where every monthly installment of gold is credited to your account at the current rate.
Such schemes help you to protect your investment from fluctuating gold prices where end of the tenure you buy your favorite jewellery.
Jewellery purchase at the maturity of the scheme has no making charges up to 14% only for plain gold Jewellery and VAT will also be paid by the company.
Individuals can buy gold jewellery by contributing on monthly salary, monthly savings or even with your monthly pocket money.
P N Gadgil provides a special 10% discount on making charges of jewellery, at the end of 12 months, upon redemption of your plan. Also, there will be one month installment free from the jeweller.
However, purchase of pure gold in any form including vedhanis, coins, bars, biscuits is not allowed under this plan.
The article is not a solicitation to buy, sell in gold or any of the schemes mentioned above. Greynium Information Technologies Pvt Ltd, its subsidiaries, associates and the author do not accept culpability for losses and/or damages arising based on information in this article.