Online Gold Purchase Plan

[Adith]

What's the average making charges in Malabar?

Average is 10-14% , mostly you can buy a lot of the jewellery within that range.

 

[Adith]

Anyone who has invested into Malabar gold plan know this? --> what's the difference in Malabar golden bloom and glow schemes? Bloom shows 18% off on making charges while gloom shows 14%... is the difference in the SIP amount..? coz both looks like 11 month plan.

Malabar Gold bloom :
Assume you are paying 10000 every month for 11 months. So total 110000 when scheme matures.

As part of bloom scheme , on date of purchase, say tomorrow you are buying gold and the gold price for 22k is 7200 , then you can buy 7200/110000 = 15.2 grams , and you won't have to pay any amount for upto 18% making charges.


Malabar Gold Glow :
Assume you are paying 10000 every month for 11 months. Each month , you basically are buying gold for that 10000. Let's assume at the end of 11 months the average cost of gold per gram is 6700. Total gold you have gathered is 16.4gm

As part of glow scheme , on date of purchase, say tomorrow you are buying gold and the gold price for 22k is 7200 , then you can buy 7200/110000 = 15.2 grams normally but since you actually gathered gold instead of money in the scheme , you can instead purchase 16.4 gm gold for the same amount, and you won't have to pay any amount for upto 14% making charges.

Does this make sense ? My family only invests in glow scheme .

 

[pgarg24]

Malabar Gold bloom :
Assume you are paying 10000 every month for 11 months. So total 110000 when scheme matures.

As part of bloom scheme , on date of purchase, say tomorrow you are buying gold and the gold price for 22k is 7200 , then you can buy 7200/110000 = 15.2 grams , and you won't have to pay any amount for upto 18% making charges.


Malabar Gold Glow :
Assume you are paying 10000 every month for 11 months. Each month , you basically are buying gold for that 10000. Let's assume at the end of 11 months the average cost of gold per gram is 6700. Total gold you have gathered is 16.4gm

As part of glow scheme , on date of purchase, say tomorrow you are buying gold and the gold price for 22k is 7200 , then you can buy 7200/110000 = 15.2 grams normally but since you actually gathered gold instead of money in the scheme , you can instead purchase 16.4 gm gold for the same amount, and you won't have to pay any amount for upto 14% making charges.

Does this make sense ? My family only invests in glow scheme .

Thanks for the explaining this in detail with example.. a couple of queries... Looks like glow is better since we are getting gold each month instead of just money getting invested.. so in glow scheme we get gold value for each month instead of the gold value at the end of 11 month or date of purchase?? While in bloom scheme we have to buy gold at the value of that 11 month end or the date of purchase.. considering that gold value will rise mostly.. gloom looks to be better option.. can you confirm if my understanding is correct?

Malabar try to offset the difference by giving 4% extra on making charges under bloom scheme but if gold value increases itself over the month then glow scheme looks better.

 

[Adith]

Thanks for the explaining this in detail with example.. a couple of queries... Looks like glow is better since we are getting gold each month instead of just money getting invested.. so in glow scheme we get gold value for each month instead of the gold value at the end of 11 month or date of purchase?? While in bloom scheme we have to buy gold at the value of that 11 month end or the date of purchase.. considering that gold value will rise mostly.. gloom looks to be better option.. can you confirm if my understanding is correct?

Malabar try to offset the difference by giving 4% extra on making charges under bloom scheme but if gold value increases itself over the month then glow scheme looks better.

Yes , with gold glow , it's the price of gold every month when you pay the amount. So if price is 7200 in October, 7300 in Nov and 7000 in dec , you will be buying 10000 worth for those amounts in terms of gold weight.

With Gold bloom , the monthly prices don't matter . Only the date of purchase price when you redeem after 11 installments , that single day's gold price matters.

I recently had a scheme mature. My gold glow has average price of 6100 and I bought at maturity when the gold price was 6400 range that day. I got 18 GM's gold cause my average was 6100 while I'd have got around 16.5 ish if I actually bought at the days price.

 

[pgarg24]

Yes , with gold glow , it's the price of gold every month when you pay the amount. So if price is 7200 in October, 7300 in Nov and 7000 in dec , you will be buying 10000 worth for those amounts in terms of gold weight.

With Gold bloom , the monthly prices don't matter . Only the date of purchase price when you redeem after 11 installments , that single day's gold price matters.

I recently had a scheme mature. My gold glow has average price of 6100 and I bought at maturity when the gold price was 6400 range that day. I got 18 GM's gold cause my average was 6100 while I'd have got around 16.5 ish if I actually bought at the days price.

Great, thnks for the info.. i would probably start the glow scheme sometime this month then.