POSTED BY March 27, 2011 7:28 pm COMMENTS (5)ON
gold through etf route-egold route/ mf route involves recurring expense of 1/1.5% p.a. recurring expense, whereas physical gold in form of coin/biscuit involves storing risk. recently i come to know about 24-carate gold deposit scheme from a firm in pune, which gives its insurance garantee, cheque of @60% of value as security in addition to gold deposit certificate , and gives rs.120/- per 10 gm. per month as bonus. scheme is available for 24 k gold for minimum 50gms. and at least for one month period.
2. i also come to know that in cities, reputed jewelrs offers buy 1 gm. gold a month scheme, where we have to pay the cost of gold every month , and on completion of the term , the jewel will deliver the gold. so stocking of gold at home is not there for a year or so.
3. one reputed company of chennai offers the scheme as above. in addition , they offer buy of gold , minimum 50gm. and then in its multiplication with 25% of the cost ,and balance in 12 monthly interest free installments, and the delivery is also given in predetermined installments. i found the cost seems @3% higher than prevailing rate.this scheme opens for chennai and tamilnadu cities where the companies have branches.
this is just for information of members, and to discuss the pros and cons for such investments, and also share your experience of such scheme, if any.