Under this scheme, you can pay a pre-fixed amount every month for a fixed tenure of 11 months. At the end of the eleventh month, you will be eligible for a special discount or the jeweller will put in one instalment from his side and you can purchase jewellery of your choice for the amount deposited under the scheme from the jeweller. These schemes are offered by many jewellers across the country.
How does it work?
Is it for me?This is a great scheme for those who don’t want to shell out a large amount of money at once to make a big purchase and still want to be able to buy jewellery that befits a special occasion. This scheme is a systematic plan whereby your small saving every month will allow you to buy what you want at the end of the year.
Read below to see what else it can do for you:
How do I redeem it?
On maturity of your Jewellery Purchase Scheme you can buy either 18 karat gold or 22 karat gold jewellery from the retailer. Most of the jewellers do not allow purchase of gold coins and bars under the scheme. Any applicable taxes like VAT will have to be borne by you at the time of jewellery redemption.
In case the bill amount exceeds the eligible amount, additional value will need to be paid by you to take the delivery of jewellery piece. You can make the purchase only with the jewellery store that you are enrolled with for the scheme. Under no circumstances is cash refunded by the jeweller.
It is a market where investors trade in primary products rather than manufactured products. Agricultural products such as wheat, coffee, cocoa, and sugar are called soft commodities whereas mined commodities such as gold and oil are called hard commodities. MCX in India, COMEX in London, and NYMEX in the US are popular commodity exchanges.
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