We all know that gold is a commodity that holds intrinsic value and is a hedge against inflation. In India, people like to invest in Gold and it forms a major portion of their investment portfolio. In fact most of us have spent our days tracking gold price today in Gandhinagar or Chennai waiting for the right time to invest. However, buying physical gold has its own set of issues like theft, purity and storage. So what do we do?
Well, there is a range of gold schemes in India which allow you to invest in gold without worrying about the above-mentioned issues. Let’s understand these schemes in detail.
- Gold harvest scheme by Tanishq
A scheme that has been in vogue for quite some time but has recently gained popularity is the Tanishq Golden Harvest Scheme. This scheme was introduced by Titan Company Limited, a Tata group company, and its jewellery brand Tanishq. The scheme enables investors to deposit money for a period of 6-10 months.
On maturity of the scheme, investors can use the amount deposited plus interest to purchase jewellery from Tanishq showrooms with a discount of up to 75% on the value of jewellery purchased under the scheme. The tenure of the deposit can be selected as per your requirement, but it has to be for at least six months. The interest rate is revised every quarter and currently stands at 8%.
In addition to receiving a discount on the price of jewellery purchased under the scheme, an investor will also get gold coins worth up to 5% of the value of jewellery purchased under this scheme in case they have deposited more than Rs 50,000.
Investors can open this account either singly or jointly and either through cash or cheque. The minimum deposit amount allowed is Rs 10,000 and there is no limit on the maximum deposit amount.
- Suvarna Poornima Scheme by PNG gold Scheme
This has lately become one of the most popular schemes in India. In these schemes, as an investor, you can invest any time you want. However, the one drawback is that once you have fixed the premium amount you cannot change it mid plan. Additionally, the monthly amount must be greater than Rs. 3000 and in the subsequent payments it should be in the multiples of Rs. 500. If you are looking for a discount on the making charges then this scheme is ideal for you since at the time of maturity you are guaranteed a 10% discount.
- Bhim Gold Tree Purchase Plan by Bhima Jewellery Gold
The texture of this scheme is 2 years and in it, you will have to make deposits of amounts that are multiples of Rs. 250. As an investor, after every 6 months, you also get bonuses which you can use to pay off the making charges when you buy jewellery. To be eligible for this scheme, however, you need to be a citizen of India. The one good aspect of this scheme is that you don’t necessarily need to know gold price in Himachal or whichever city you are from at all times because of the structure of the scheme and its duration. You can visit Khatabook to understand price variations in detail.
