Malabar Gold New Scheme Launched

[Rahul00786]

What is the 18% depreciation part?
Can someone plz confirm if below section is correct

Note:
In this scheme, if the gold rate increases within 18%, your booking rate is still honored. If the gold rate falls, you will get the benefit of the lower rate at the time of purchase.

 

[sparkit]

What is the 18% depreciation part?
Can someone plz confirm if below section is correct

Note:
In this scheme, if the gold rate increases within 18%, your booking rate is still honored. If the gold rate falls, you will get the benefit of the lower rate at the time of purchase.

No.
Let me tell you.
let’s say you visit today, and need to open this scheme and have an amount of 5 lakhs. While booking the scheme, gram weight equivalent to 5 lakhs will be locked. After 11 months, when the scheme matured, you visit the store and can purchase jewels equal to the gram weight without V.A upto 18%.

 

[KGSIPO]

No.
Let me tell you.
let’s say you visit today, and need to open this scheme and have an amount of 5 lakhs. While booking the scheme, gram weight equivalent to 5 lakhs will be locked. After 11 months, when the scheme matured, you visit the store and can purchase jewels equal to the gram weight without V.A upto 18%.

I think your interpretation is not correct. If the gold price increases more than 18 % from the booking date to purchase date, we have to pay the difference. The VA shall be zero irrespective of price change

 

[akilmds]

Guys, Malabar have launched Golden bliss plan.

• You can lock in either an advance amount or deposit old gold/coins.
• The tenure is 11 months.
• After maturity, you can buy gold jewellery with ZERO making charges (up to 18%).

Many of us stack gold coins either as gifts, investments, or savings. But converting coins into jewellery usually means paying hefty making charges (8–20% depending on the item).


Now, with this plan:

• You just deposit your gold coins.
• Wait for 11 months.
• Convert them to jewellery with no making charge deductions upto 18%.

I checked today with a Malabar branch in Chennai. For this scheme, they are not accepting 24k coins.
Do you have any idea about this ?

 

[KGSIPO]

I don't know why the jewellers are hesitant to accept 24k coins. They happily accept 22k coins wherever I go . It is always better to buy 22k coins .

 

[Amit_1]

I don't know why the jewellers are hesitant to accept 24k coins. They happily accept 22k coins wherever I go . It is always better to buy 22k coins .

Wierd but true

 

[Optimiser007]

Is there any minimum gm of gold, we need to deposit to enroll..heard for bhima it's 20 gm

 

[Optimiser007]

If someone wants to exchange their old jewellery and can wait for 1 year, then this looks like a perfect plan isn't it?

 

[Optimiser007]

🙂 yes. They accept another famous payment method too!

Read in a Reddit post last month, this 'famous' method is no longer accepted..have they started accepting again?

 

[TripleAce]

If someone wants to exchange their old jewellery and can wait for 1 year, then this looks like a perfect plan isn't it?

Absolutely!!
I am also thinking on the same lines..

 

[koinahi]

Read in a Reddit post last month, this 'famous' method is no longer accepted..have they started accepting again?

It does works on lalitha atleast.

 

[Optimiser007]

It does works on lalitha atleast.

No I thought Lalitha doesn't support Apay, read somewhere that only Joyalukkas, bhima are supporting now

 

[koinahi]

How is bhima wrt gold schemes. Can i start online ?

 

[Optimiser007]

How is bhima wrt gold schemes. Can i start online ?

I think you can, the painpoint with them is lesser stores outside blr

 

[Optimiser007]

It does works on lalitha atleast.

Did you verify this recently, do they support Apay wallet?

 

[koinahi]

Did you verify this recently, do they support Apay wallet?

I have seen option during monthly payment, got option of choos pg amongst razorpay and other dont remember.