Invest in Gold This Diwali: Top 5 Schemes for Jewelry Investment – 2024

Invest in Gold This Diwali : Gold has historically held a special place in Indian culture, especially during festivals like Diwali, symbolizing wealth, purity, and prosperity. Recently, gold prices have reached new heights, surpassing Rs 59,520, adding a sense of urgency to those looking to buy or invest in gold. Given the steep prices, many people are now turning to systematic investment plans offered by top jewelers across India. These plans make it easier for people to invest in gold, even as prices rise.

For those considering gold investments this Diwali, several schemes offer unique benefits. Here’s a closer look at the top five options.

1. Tanishq Golden Harvest Scheme

Overview and Background
Tanishq, one of India’s leading jewelry brands, offers the Golden Harvest Scheme, allowing customers to invest systematically in gold. The scheme caters to the needs of customers who prefer regular investments with attractive maturity benefits. With a strong reputation for quality and transparency, Tanishq has made this scheme accessible both online and offline.

Also Read : Jio Finance Smart Gold Plan : Invest Just Rs 10 and Get Home Gold This Diwali

How It Works
The Golden Harvest Scheme is straightforward: investors make monthly payments of at least Rs 2000 for 10 months, with the option to use various payment methods like post-dated cheques, cash, or online transfers.

Benefits of the Scheme
At maturity, Tanishq provides up to a 75% discount on the first installment amount. This discount increases the purchasing power of customers, allowing them to buy more than what they have invested. The scheme also emphasizes flexibility as it allows customers to open accounts via Tanishq’s website, mobile app, or directly at showrooms.

Drawbacks and Considerations
The account must be closed within 400 days from the opening date to avoid forfeiting the maturity benefits. Despite its benefits, customers need to consider whether they can consistently meet monthly payments.

Cultural and Financial Significance
For those looking to own jewelry during Diwali, the Golden Harvest Scheme not only offers a systematic way to accumulate gold but also aligns with the cultural and financial practices of gifting and investing in gold during festivals.

2. Senko Gold- Swarna Yojana (11 Months)

About the Scheme
Senko Gold’s Swarna Yojana offers a unique gold savings scheme that appeals to customers looking for a shorter-term commitment with just 11 months of monthly payments. Known for its extensive jewelry range, Senko Gold is popular for high-quality craftsmanship and customer-centric schemes.

How to Enroll
Customers can open an account through any Senko Gold store, and online enrollment is also available. Monthly installments can be paid through both offline and online channels, making it highly convenient for those with busy schedules.

Benefits of the Swarna Yojana
Regular installments open the door to additional benefits, including savings on making charges. Customers can also access related schemes like Swarna Lab and Swarna Yojana, allowing flexibility in redeeming their gold savings.

Investment Appeal
Starting with just Rs 1,000, the Swarna Yojana is highly accessible and offers flexibility in terms of jewelry choices. The scheme is an excellent option for budget-conscious investors who wish to invest in gold systematically without a long-term commitment.

Significance for Diwali Shoppers
For those who view Diwali as an auspicious time for purchases, Senko’s scheme offers a structured way to save up for gold while avoiding steep price fluctuations by spreading payments across 11 months.

3. Reliance Jewels- Golden Steps

Scheme Overview
Reliance Jewels, a prominent jewelry retailer in India, offers the Golden Steps investment scheme. This scheme caters to a broad range of customers with two options: an 11-month plan and a 24-month plan, allowing greater flexibility based on customers’ investment horizons.

Opening an Account
Accounts can be opened at any Reliance Jewels showroom, where customers can choose their preferred plan. Payments are simple to manage, with various options like cash, debit/credit cards, and post-dated cheques for convenience.

Benefits and Returns
The 11-month scheme provides an 85% benefit on the installment, while the 24-month scheme increases the discount to up to 350% on monthly installments. These added discounts make the Golden Steps plan appealing for individuals looking to maximize their gold purchase value.

Considerations for Investors
For those prepared to commit to regular payments over a more extended period, the 24-month option offers substantial benefits, though it requires greater financial discipline. The higher discount potential on the 24-month scheme could make it ideal for those aiming to accumulate significant gold holdings.

Why This Scheme Stands Out
Reliance’s Golden Steps offers both short- and long-term options, giving customers the flexibility to choose an investment period based on their financial goals. For Diwali, this scheme provides a strategic advantage to investors looking to secure significant discounts while accumulating gold.

4. Joyalukkas- Easy Gold Purchase Scheme

Scheme Structure
Known for its large chain of stores across India, Joyalukkas provides the Easy Gold Purchase Scheme to facilitate systematic gold investments. This scheme allows customers to invest in a variety of jewelry, including gold, silver, diamonds, and other precious stones.

How to Participate
Customers can register for the scheme online through the Joyalukkas website, ensuring convenience and accessibility. The scheme’s monthly contributions can also be managed online, making it an attractive choice for tech-savvy investors.

Scheme Benefits
The Easy Gold Purchase Scheme offers distinct benefits depending on the item chosen for redemption. Joyalukkas provides an 18% waiver on duty for purchases of gold, silver, or gold coins, and up to a 50% discount on labor charges for diamond and precious jewelry purchases.

Considerations
While the scheme has attractive benefits, customers must be mindful of the item-specific discounts to maximize their savings. Additionally, the scheme may not be ideal for those looking solely to purchase gold, as its appeal lies in its variety of jewelry options.

Why This Scheme is Ideal for Diwali
With flexible options to invest across multiple jewelry types, this scheme is perfect for Diwali shoppers who may want to expand their jewelry collection beyond gold. The significant duty and labor charge waivers add considerable value for customers looking to buy luxury items.

5. Malabar Gold & Diamonds- Golden Bloom

Scheme Overview
Malabar Gold & Diamonds, a leading brand in India, offers the Golden Bloom scheme, catering to customers looking for structured gold savings options. Malabar Gold is known for its diverse collection of traditional and contemporary jewelry, making it a go-to destination for festive shopping.

Opening an Account
Customers can open an account at any Malabar Gold store and make monthly payments via post-dated cheques or in-store transactions. This option adds a level of convenience for customers who prefer physical transactions over online payments.

Benefits of Golden Bloom
Upon completing 11 monthly installments, customers are eligible for up to an 18% discount on making charges, a substantial benefit when purchasing high-value gold jewelry.

Why This Scheme Appeals to Festive Shoppers
With a focus on affordable monthly payments and discounts on making charges, Malabar’s scheme is perfect for those preparing for a Diwali purchase. The straightforward nature of the scheme, combined with the brand’s extensive collection, makes Golden Bloom an ideal choice for traditional buyers.

Invest in Gold This Diwali : Conclusion

Investing in gold during Diwali has long been a tradition in India, symbolizing luck and prosperity. The rising gold prices, however, present a challenge for many, making investment schemes an attractive alternative to direct purchases. The five schemes outlined above—offered by Tanishq, Senko Gold, Reliance Jewels, Joyalukkas, and Malabar Gold—each provide unique benefits, making it possible for a range of investors to participate in gold investment despite the current high prices. By choosing a scheme that aligns with their financial goals and preferences, individuals can secure a valuable asset, contribute to their wealth over time, and celebrate Diwali with the timeless shine of gold.

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Disclaimer:

This article is intended solely for informational purposes and should not be taken as financial or investment advice. The details on gold investment schemes, monthly installment options, and specific benefits are based on information provided by the respective jewelers, which may change over time. Readers are advised to verify the current terms, conditions, and scheme benefits directly with the jeweler before making any investment decisions. Investing in gold or any other asset carries inherent risks, and past benefits do not guarantee future returns. For personalized financial advice, please consult a qualified financial advisor. Neither the author nor the publisher assumes any responsibility for investment decisions made based on this information.

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