Different Jewellery Shops provides Gold Purchase Schemes for Buying Gold by Paying Money in Installments. Customer can pay money in monthly Installments and Gold can be purchased after a fixed Period. This Kind of buying Helps to get rid of frequent Increase in Gold prices.
There is no tension of giving full money in one time for buying the gold as they can give money in small fixed amount in installments and buy gold later. Some Jewellery shops offers discounts in Making charges when buying the gold after a fixed period and some Bonus also will be provided to customers by some Jewellery Shops.
Malabar Gold provides 6% yearly bonus for the amount paid so that If a Person pays Rs 500 as monthly installment for buying gold after 3 years he can buy gold for Rs 18000 + 1665 (bonus) that is for Rs 19665.
Different Jewellery Shops provide different scheme for buying gold through Installments. These schemes helps people to buy gold by spending a small amount monthly and it will be a saving to them.
Monthly Installment amount and Period of Installment will varies from shop to shop and you will get the exact details from the shop. There will be options available to the customer as the installment amount will be different in different scheme. If you want t buy more gold you can pay installments in that ratio fr example in Malabar Gold a customer can pay installment from Rs 500 to Rs 5000 based on the purchase of Gold after the expiry of the Period.
Gold can be sold later as it is a good asset. These schemes will be a savings for the People as money will be returned after a fixed Period.