Gold has the significant cultural and financial importance in India for centuries, symbolizing not only prosperity but also a prudent investment choice. The country, being one of the world's largest consumers of gold, recognizes its value, particularly during economic uncertainties, making it a favored asset among investors.
However, the substantial price of gold often makes acquiring large quantities financially challenging. To address this, various gold saving schemes have been introduced in India to promote systematic saving of this precious metal.
In this web page, we will provide an in-depth understanding of the best gold saving schemes available in India offered by renowned jewellers and banks. Read further to choose the right Gold saving plan best suited for your needs.
Investing in the finest gold saving scheme involves understanding the importance of safeguarding your assets with gold, a perennially valuable resource. Gold saving scheme offers a structured and methodical approach to collecting gold, aligning with various financial goals. Additionally, explore other pivotal features of the Gold Saving Scheme listed below:
Jewelers in India present a diverse array of gold-saving schemes, providing an opportunity to explore investment in gold bonds, among the best gold saving schemes available. Here they offer top saving schemes providing innovative gold chit schemes. These schemes also include the best gold saving plan, allowing individuals to accumulate gold systematically and enjoy various benefits along with flexible savings options.
Tanishq Gold Schemes
1. Tanishq Golden Harvest Scheme
2. Tanishq Swarnanidhi Scheme
PNG Jewellers Gold Schemes
1. Suvarna Poornima Scheme
2. Kuber Scheme
3. PNG Gold Rush (Sanchayat Dhanavardhan)
Kalyan Jewellers Gold Schemes
Kalyan Jewellers Gold Scheme
Bhima Jewellery Gold Schemes
Bhima Gold Tree Purchase Plan:
Malabar Gold Schemes
Malabar Gold & Diamonds Smart Buy Scheme:
Prince Jewellery Gold Scheme
Prince Save N Gold:
Prince Save N Diamond:
New Year 2017 Jewel Plus:
PNB Gold Schemes
Sovereign Gold Bond:
PNB Gold Coins:
Andhra Bank Gold Schemes
Andhra Bank Sovereign Gold Bond Scheme:
ICICI Gold Schemes
ICICI Dream Gold Plan:
ICICI Gold Monetization Scheme:
ICICI Sovereign Gold Bonds:
HDFC Gold Scheme
HDFC Sovereign Gold Bond:
Axis Bank Gold Schemes
Gold Mohurs:
SBI Gold Schemes
SBI Gold Coins:
Revamped Gold Deposit Scheme (R-GDS):
RBI Sovereign Gold Bond Scheme 2018
Features: Available in multiples of 1 gram for 8 years; exit possible from the 5th year onwards; offers an interest rate of 2.5% per annum.
Among the various options available, the government in India offers some of the best gold saving plans that cater to different preferences and needs. These schemes, include the option of gold scheme online, to facilitate easier access to gold investments for individuals seeking reliable and convenient avenues.
Sovereign Gold Bonds (SGBs)
Axis Gold Fund (Fund-of-Fund)
Atal Pension Yojana (APY)
Indian Gold Coins
National Pension Scheme (NPS)
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Gold saving schemes typically function as systematic investment plans where individuals make regular contributions towards purchasing gold. These schemes often offered by jewelers or banks allow investors to accumulate gold over a specific period.
Gold saving schemes offer the advantage of disciplined savings, making gold accessible to investors who may find buying gold in larger quantities challenging. Some schemes also provide additional incentives like discounts or bonuses.
Gold saving schemes typically have a lock-in period, usually ranging from 12 to 24 months.
The gold price in these schemes is determined based on the prevailing market rate at the time of each installment payment.
Missing a payment in a gold saving scheme could result in penalties or the forfeiture of benefits such as discounts or bonuses. Some schemes might allow a grace period or provide options to make up for missed payments.
Generally, altering the monthly contribution amount in the middle of the scheme might not be allowed. However, specific schemes may have provisions for adjusting the contribution amount, subject to terms and conditions.
The documentation requirements usually include KYC (Know Your Customer) documents like an Aadhaar card, PAN card, address proof, and passport-size photographs, along with other specific documents specified by the scheme provider.
Yes,individuals can participate in multiple gold-saving schemes offered by different providers at the same time.
Gold saving schemes generally do not offer specific tax benefits under Income Tax laws. The tax implications may vary based on the scheme and the prevailing tax regulations. It's advisable to consult with a tax advisor for accurate information on tax-related matters.
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