A monthly gold scheme refers to paying, buying, or investing in gold on a monthly basis.
Most jewellers now offer a monthly gold savings scheme, which lets customers pay a manageable amount every month toward a future gold purchase.
For example,
Manoj is a middle-class man who wants to buy 1 gram of gold. At today's price of around ₹1,45,010 for 10 grams (roughly ₹14,500 per gram), and with a monthly salary of ₹20,000–₹30,000, buying gold outright isn't easy for him. This is why people like Manoj often opt for a monthly scheme, investing ₹4,000, ₹5,000, or ₹10,000 a month with a jeweller. This helps them accumulate savings toward gold jewellery or coins, which they can redeem at the end of the contracted period.
What Are the Popular Gold Schemes in India?
Tanishq Golden Harvest Scheme:
Pay ₹2,000 per month for 10 months and redeem the accumulated amount toward gold purchases.
Kalyan Jewellers Scheme:
Pay equal instalments for a set tenure, typically 11 months, and receive a special benefit in the 12th month.
Joyalukkas Cash Saving Scheme:
Contribute for 10 months, with an option to freeze the gold rate and gain making-charge benefits.
CaratLane Treasure Chest Scheme:
Minimum savings start from ₹1,000 per month for 9 months, with additional benefits on redemption.
Malabar Gold & Diamonds Golden Bloom Plan:
Deposit a monthly amount for 9 to 11 months and redeem certified gold jewellery.
What Are the Benefits of a Monthly Gold Investment Scheme?
Helps you invest for the future in small, manageable steps.
Reduces the burden of paying a large amount at once, which isn't always possible for a middle-class family.
Flexibility with gold prices - if prices rise or fall, investors can choose to pause or start a new scheme accordingly.
Jewellery bonus - many jewellers pay a final bonus instalment or waive making charges at redemption.
Wedding planning - helps families save toward jewellery well ahead of a wedding or major event.
Important Risks to Consider
In most cases, jewellers do not refund the cash paid - it can only be redeemed for jewellery.
Instalments usually cannot be skipped; missing one may result in a penalty.
There's a risk that regulatory bodies like the RBI could intervene if a jeweller faces financial trouble or bankruptcy.
Missing a monthly payment, or having a payment fail, may mean losing out on the scheme's bonus or benefits.
Conclusion
A monthly gold scheme is a practical way to save toward gold jewellery without the burden of a lump-sum payment. With options like Tanishq, Kalyan, and Malabar Gold, buyers can choose a plan that suits their budget.
However, it's important to understand the terms, penalties, and lack of cash refunds before signing up. Always read the scheme documents carefully and buy from a trusted jeweller. Check today's gold rate in India before starting your monthly gold scheme.
