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Should You Invest In Gold Jewellery Through Gold Saving Schemes Offered By Jewellers?

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Gold is considered to be the safest mean of investment in India. But the trend of rise in prices of gold in last few years have taken it out from the reach of common people. Considering this aspect, different jewellers have come up with some amazing gold saving schemes to make all categories of buyers to invest in gold. These schemes are intend to increase the sale of gold and make buyers to buy gold with there monthly saving or by paying in installments.

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These days many big jewellery brands have come up with there monthly saving plans, but are these plans worth investing? Lets have a look at the insight of these gold saving plans before making investment in any of these:-

What Are Gold Savings Scheme?

Gold saving schemes are monthly saving scheme where investors pay some amount of money to the jeweller and jeweller add some bonus amount to the accumulated amount of the investor. On maturity investor can make a purchase of the jewellery with the total amount i.e accumulated amount plus bonus.

Cons Of Gold Saving Scheme
  • Investor can use the amount accumulated for the purchase of jewellery from the same jeweller only.
  • Investor can not take any refund of the cash amount invested.
  • Amount invested in this scheme can be used for the purchase of gold and diamond jewellery only, not even silver, gold coins or gold bars.
  • In case investor make a purchase of jewellery for a higher amount then the amount accumulated, investor will loose the benefits available to the scheme members like lower making charges etc..
  • Investor can be eligible for bonus only after paying all the installments. In case of any halt in between, no bonus will be paid to the investor by the jeweller.
  • In gold saving scheme, jeweller offers a fixed value on maturity. Unlike gold funds where the returns can rise with higher gold prices, most gold saving schemes of jewellers offer you a fixed value of gold jewellery at the end of the term.
  • The return on investment in gold saving scheme is lower than Gold ETF and Gold Saving funds.
  • There can be some hidden details of the scheme which investor do not get to know before investing.

ALSO READ :- Gold ETFs : More Then 100% Growth In The First Two Months Of 2012

ALSO READ :- Difference Between Gold ETFs And Gold Saving Funds

List of Gold Jewellery Purchase Schemes Available In India:-

Tanishq: The Golden Harvest Scheme
  • 11+1 plan : Under this scheme, buyer pays a fixed amount of installments every month to Tanishq for a period of 11 months and tanishq will allow you to purchase a gold equivalent to the amount of 12 installments.

For Example, Mr. A opted for the 11+1 Plan of tanishq and started paying Rs 1000 every month for 11 months i.e Rs 11,000(Rs 1000 *11). At the end of 11 months, tanishq offered him to make a purchase of gold worth Rs 12,000 i.e the amount equivalent to 12 installments.

  • 18 Months Plan : It is a unique gold saving plan offered by tanishq where buyer buyer have to pays for complete 18 months but the amount of installment can vary with every passing month.

For example – Mr. A started investing in 18 month plan with Rs 1000, and then changed his installment to Rs 3000 in the next month, and then again changed it to Rs 2000. So this gold saving scheme allows flexible installments to the investor which make investor increase or decrease his contribution according to the availability of funds.

Note :- In both the gold saving schemes of Tanishq, the minimum installment value is Rs.500 which can be increased to any amount in multiples of Rs.500.

Gitanjali Jewels: Tamanna Monthly Saving Scheme
  • 12+1 Plan For Gold Jewellery Purchase :- Under this scheme, buyer pays a fixed amount of installments every month to Gitanjali for a period of 12 months and Gitanjali will allow you to purchase a gold jewellery equivalent to the amount of 13 installments.
  • 12+2 Plan For Diamond Jewellery Purchase :- Under this scheme, buyer pays a fixed amount of installments every month to Gitanjali for a period of 12 months and Gitanjali will allow you to purchase diamond jewellery equivalent to the amount of 14 installments.

Gitanjali Offers all these brands of jewellery for the above two schemes : Asmi, D’damas, Nakshatra, Gili, Maya Gold, Collection G, Gold Expressions and Diya.

Note :- In both the gold & Diamond saving schemes of Gitanjali, the minimum installment value is Rs.1000 which can be increased to any amount in multiples of Rs.1000.

GRT Jewellers: Gold Tree Gold Jewellery Saving Scheme
  • 15+1 Plan :- Under this scheme, buyer pays a fixed amount of installments every month to GRT for a period of 15 months and GRT will allow you to purchase a gold jewellery equivalent to the amount of 15 installments + Cash gift of Rs 200.

Note :- In the gold saving schemes of GRT, the minimum installment value is Rs.500 which can be increased upto Rs 10,000 in multiples of Rs.500.

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Tribhovandas Bhimji Zaveri (TBZ): Kalpavruksha Plan Super
  • 12+1 Plan :- Under this scheme, buyer pays a fixed amount of installments every month to TBZ for a period of 12 months and GRT will allow you to purchase a gold, diamond or platinum jewellery equivalent to the amount of 13 installments.
  • 15+1 Plan :- Under this scheme, buyer pays a fixed amount of installments every month to TBZ for a period of 15 months and GRT will allow you to purchase a gold, diamond or platinum jewellery equivalent to the amount of 16 installments.
  • 18+1 Plan :- Under this scheme, buyer pays a fixed amount of installments every month to TBZ for a period of 18 months and GRT will allow you to purchase a gold, diamond or platinum jewellery equivalent to the amount of 19 installments.
  • 24+1 Plan :- Under this scheme, buyer pays a fixed amount of installments every month to TBZ for a period of 24 months and GRT will allow you to purchase a gold, diamond or platinum jewellery equivalent to the amount of 25 installments.

Note :- In the gold, diamond or platinum saving schemes of TBZ, the minimum installment value is Rs.1000 which can be increased to any amount in multiples of Rs.500.

P C Jewellers: Jewels for Less

12+2 Plan :- Under this scheme, buyer pays a fixed amount of installments every month to PCJ for a period of 12 months and PCJ will allow you to purchase gold jewellery equivalent to the amount of 14 installments.

This minimum duration of this plan is 12 months and the maximum is 36 months

Note :- In Jewellery saving schemes of TBZ, the minimum installment value is Rs.1000 which can be increased to any amount.

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