Average is 10-14% , mostly you can buy a lot of the jewellery within that range.
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Online Gold Purchase Plan
- Thread starter Channakya
- Start date
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.
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.👍
Thanks @Adith for your guidance and mentorship!!🙏🙏
Invested today in Malabar Glow scheme!!😀😀
Only because of your knowledge and support I am able to invest in my first Gold Investment Scheme!!👍👍
I hope you double checked all the information ! Congrats bro !
Yup bro ..
Everything I have double checked.. In fact I have taken their 1 hour to clarification of all my doubts then only I opened it.
Were you able to pay the first installement thru amazon pay wallet or can we do it from next one? I too am going to my hometown for diwali in next week and planning to open glow scheme.
First installment we have to pay at their shop only.
I have paid through DCB.
temp77
TF Buzz
Just started the glow scheme a month back, a few pointers -
1. You cannot renew the scheme - at the end of the scheme period you will have to buy something within a couple of months - since the cost is averaging you kind of have a rough estimate of how much gold you'll end up with so you'll have to plan accordingly. Depending on what we are actually getting we'll have to buy a little bit extra gold (with full making charges) or if we're rounding of to the lower value - if I'm not wrong they'll give cashback (without any interest earned)
2. Basic chains were around 13%, for rings and finer jewelry it ranged from 16% to as high as 26%
They also have a third scheme in which you can pay upfront and lock gold at current price and redeem later at 11 months with making charges waived off up to a certain %.
@Adith Which jewelry did you get and what were the making charges you had to pay when redeeming, if any?
1. You cannot renew the scheme - at the end of the scheme period you will have to buy something within a couple of months - since the cost is averaging you kind of have a rough estimate of how much gold you'll end up with so you'll have to plan accordingly. Depending on what we are actually getting we'll have to buy a little bit extra gold (with full making charges) or if we're rounding of to the lower value - if I'm not wrong they'll give cashback (without any interest earned)
2. Basic chains were around 13%, for rings and finer jewelry it ranged from 16% to as high as 26%
They also have a third scheme in which you can pay upfront and lock gold at current price and redeem later at 11 months with making charges waived off up to a certain %.
@Adith Which jewelry did you get and what were the making charges you had to pay when redeeming, if any?
The third scheme which you are talking here is BLISS.😀😀
I have created a separate thread for Malabar with all investment schemes that are available.
Hi Guys,
I am creating this thread as it will help members who are planning to invest in Gold after closure of SGB(no confirmation on further tranches) and it was quite a struggle to get all information at a place.
I have attached the brochure of Malabar Gold and Diamonds various investment options.😄😄
Currently they a lot at investment schemes in gold and diamond. In gold one can easily get 14-18% off on VA and in diamond 20% discount they are giving through these schemes!!
Disclaimer: I have invested in one of their schemes today.
...
I am creating this thread as it will help members who are planning to invest in Gold after closure of SGB(no confirmation on further tranches) and it was quite a struggle to get all information at a place.
I have attached the brochure of Malabar Gold and Diamonds various investment options.😄😄
Currently they a lot at investment schemes in gold and diamond. In gold one can easily get 14-18% off on VA and in diamond 20% discount they are giving through these schemes!!
Disclaimer: I have invested in one of their schemes today.
...
Got my wife a necklace. We liked quite a few that were 12-14% making charge but since it was her bday gift , got her the best looking one that had lot of work done , so it has 19% making charge. Paid 5% making charge cost during the purchase. Have 3 other schemes in active for which the plan is to buy only upto 14% making charge .
