MUMBAI (Commodity Online): The rising gold price is no longer a worry for Indian jewelry buyers as finance companies and banks are rushing towards them offering loans for purchasing their beloved yellow metal.
New finance schemes to buy gold continue have been launched as festival and wedding season gains momentum in the world’s largest gold-loving nation. Gold is gifted within families in India during festivals and wedding occasions.
India has seen 25% spurt in gold prices in the first half of the year but gold sales continued to climb. Seeing this trend, many jewelers in collaboration with banks have introduced many schemes, loan plans to push gold sales. These schemes and plans introduced would help the buyers to buy more jewelry for the cash they possess and remaining could be paid off in installment at low interest rates.
One such plan is ''Swarna Samridhi'' for the Andhra Pradesh market introduced by Jewellery chain Goldplus in alliance with Muthoot Finance.
There are also other plans such as suvarna Lakshmi gold saving scheme introduced by Bhima jewellers, where the buyer can reserve gold jewellery at current prices and take delivery at a future date.
Some jewellers have even come out with exchange offers where the buyers can buy the gold worth the price of gold exchanged.
The finance options are available not only for gold but also for other precious metala like platinum and woman’s favourite, diamonds.
Much of the world’s renowned jewellery like Tanishq, D’damas, Joy alukas etc has also introduced many schemes to promote the sales and till now it has proved to be successful.
