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The scheme allows you to save Rs 500 every month for a period of 12 months or 18 months and buy gold jewellery worth the corpus at maturity. At the 12th/18th month, Tanishq will add a special bonus that works as a retu..
30 Mar 2010
MUMBAI (Commodity Online): At a time when everything the world is running on EMIs, why can’t people buy gold jewellery by paying in instalments? And if you get some bonus for doing that why would anybody think twice?

This is the unique way Tata Group’s Tanishq, the renowned jewellery brand, thought before launching its ‘Golden Harvest Saving Scheme’. The scheme is highly popular among middle class people who wanted to buy jewellery on some particular occasions like wedding or festivals.

The scheme allows you to save Rs 500 every month for a period of 12 months or 18 months and buy gold jewellery worth the corpus at maturity.

At the 12th/18th month, Tanishq will add a special bonus that works as a return on the investment over and above the planned purchase of jewellery. If you are depositing Rs 2,000 every month under the 12 months option, at the end of 11 months, you would have accumulated Rs 22,000 and the jeweller would deposit the last instalment of Rs 2,000 taking your total to Rs 24,000.

The last instalment of Rs 2,000 acts as the interest component, which works to around 8.3%. The return on a 12-month recurring deposit, on the other hand, fetches around 5.75-6.25%. The amount of the monthly instalment paid by the customer is fixed under the 12-month scheme.

Under the 18 months scheme, the monthly instalment can vary from Rs 500 to Rs 10,000 every month. Suppose you are investing Rs 2,000 every month, you will earn a bonus of Rs 2,600 at maturity. The bonus for 18 months is prefixed by the jeweller based upon the size of the instalment.

You can use the corpus to buy 22-carat pure gold or 18-carat diamond-studded and platinum jewellery. You cannot buy a solitaire, gold or silver coins using this money.

So, you should invest in this scheme only if you want to buy gold jewellery. In case, you are unable to utilise the entire money, the company gives you a voucher worth the balance. You cannot ask for a cash refund.

Under the 12-month scheme, the maturity date would get postponed by the total number of days in the missed month.

Under the 18-month scheme, the company has worked out a formula such that the bonus will be proportionately reduced by the number of days delayed for every missed or delayed instalment.

If you don’t trust your memory with dates then you could give the 12 or 18 post-dated cheques to Tanishq.
YOUR RESPONSE
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COMMENTS (14)
Mahesh
03 Sep 2014
can i get complete details please
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Keshav kodaliya
18 Apr 2014
i want gold in monthly instalment pl.provide full details
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SB TRIPATHI
14 Feb 2013
i want gold in monthly instalment pl.provide full details
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Huma naaz
26 Jan 2013
HI i want knw the nearest branch near south delhi
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Paresh
19 Aug 2012
hi, i want to knw the nearest branch near by malad/kandivali and ctc no., also want if ill go for this shceme then i have to buy products kindly let me know
Devendra Bhatt I want to invest but you branch in borivali
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Riya
27 Aug 2011
Dear Friends, I have a very much exciting Gold inestment plan. You can buy paper Gold and get 10% monthly Dividend. Also avail trading limit as much as your investment. Call me at 9167333622.
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Sapna
22 Aug 2011
Dear sir ,I want to purches gold, in installment so plz more details . plz contact me my email.id
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Guest
17 Aug 2011
Clearly, this scheme is promoting TANISHQ's ornament designs. A very good strategy indeed. TATA clearly locks in its customers to buy ornaments from its outlets at the end of the 12/18 month tenure - these ornaments will have gold worth way less than corpus value, whereas the remaining value would be shown as making charges, wastage, etc. Here is how it works: Example:- If the corpus is worth Rs. 24,000 at the end of period, TATA will offer you gold ornaments worth Rs. 24,000 in which the gold value in it will be worth less than or equal to the Rs.22,000 you have paid. The difference would be mentioned as making charges and other charges. Moreover, lets not forget the Interest income on the Rs.2000 that TATA has received over the previous 12/18 months - this would more than compensate TATA to pay for the last EMI. The key here is that other Jewelers wouldn't have thought of it whereas TATA did. Some benefits to them are: - Locking customer purchases at the end of 12/18 months. - Zero Cost to TANISHQ
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Mohd Sami
16 Aug 2011
Dear sir ,I want to purches gold, in installment so plz more details .plz call me 09885167763
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PRASHANT A SHETYE
15 Aug 2011
Dear sir ,I want to buy a gold coins at the end of maturity.so that i will buy a collection of my choice.
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Apu
07 Aug 2011
i, want to buy ornament with installment
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Riya
04 Aug 2011
Dear Friends, We are inviting big investors, traders, HNIs for Gold investment Global Gold investment plan with Gold mining corporation. Trading limit as much as investment. For more detais call me at 9167333622.
Huma naaz i am intrested
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Avinash Patil
23 Feb 2011
Dear Sir, i want to purchase gold ornament in monthly instalment so please provide full information.do you have a showroom in Bhilai Chhattisgarh.
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Vikram singh
04 Feb 2011
Dear Sir, i want to purchase gold ornament in monthly instalment so please provide full information .
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