Joyalukkas Gold Scheme Review

By Team Gullak

Nov 21, 2024

4 min read

Gold has been a symbol of wealth and security for generations in India, and many investors continue to prefer gold as a safe investment. Among the traditional gold-saving methods, the Joyalukkas Gold Scheme has been a popular choice for those looking to buy gold systematically.

However, with the rise of innovative digital gold investment options like Gullak Gold+, investors now have more flexible options to grow their gold holdings. This article will dive into the features of the Joyalukkas easy Gold Scheme, compare it with modern alternatives, and help you decide which plan aligns with your financial goals.

What is the Joyalukkas Gold Scheme?

The Joyalukkas easy Gold Scheme is a gold savings plan designed to help customers accumulate gold over time by making fixed monthly payments. This scheme is particularly useful for individuals planning to purchase gold jewellery for future occasions like weddings or festivals. Here’s how it works:

You pay monthly amounts starting from 1000/month to Joyalukkas for 10 months. At the end of the 10th month, you can buy any gold or diamond jewellery from them & claim discounts on making charges.

Key Features of the Joyalukkas Gold Scheme

Monthly Payments: Under the Joyalukkas easy Gold Scheme, investors make monthly deposits, typically over a period of 10 months, to save towards a jewellery purchase.

Jewellery Purchase: The accumulated savings can be redeemed to buy gold jewellery from Joyalukkas stores. The Joyalukkas Gold Scheme is ideal for those looking to buy jewellery rather than raw gold or coins.

Discounts on Making Charges: One of the key attractions of the Joyalukkas Gold Scheme is the discount on making charges when purchasing jewellery, reducing the total cost.

Joyalukkas gold scheme login steps

Use the below steps to log in to your Joyalukkas gold scheme account:

Gullak Gold+ Overview

Unlike the Joyalukkas Gold Scheme, Gullak Gold+ offers a more flexible and profitable way to invest in gold. Gullak Gold+ allows users to grow their gold holdings by 5% every year, making it an attractive option for long-term investors. For instance, 100gms of gold in Gullak Gold+ grows to 105 gms in just one year and 148 gms in 8 years.

Here’s how Gullak Gold+ compares to the Joyalukkas easy Gold Scheme:

Both the Joyalukkas Gold Scheme and Gullak Gold+ cater to different types of investors. Below is a detailed comparison between the two-

Earn 5% Extra Gold: The Joyalukkas Gold Scheme does not provide additional gold on top of your investments, whereas Gullak Gold+ offers a 5% extra gold annually.

SIPs: Gullak Gold+ enables you to set up daily/weekly/monthly SIPs starting from as low as ₹150, allowing for more frequent and smaller investments in 24K 999 hallmarked gold. The joyalukkas monthly gold scheme focuses only on monthly fixed payments.

Making Charges: Gullak Gold+ eliminates making charges, unlike the Joyalukkas Gold Scheme, where making charges apply when purchasing jewellery.

Flexibility: While the Joyalukkas Gold Scheme restricts withdrawals until the end of the tenure, Gullak Gold+ allows for withdrawals at any time, either as cash or gold. You can also redeem your Gullak investments in the form of jewellery at Caratlane by Tanishq stores & claim 5% discount on gold price.

Which Gold Investment is Best for You?

The choice between the Joyalukkas monthly Gold Scheme and Gullak Gold+ depends on your personal investment goals. If you’re specifically saving to purchase gold jewellery for a future event, the Joyalukkas Gold Scheme might be an appealing option.

On the other hand, if you're looking for a more versatile and growth-focused gold investment option, Gullak Gold+ might be the better choice. Gullak Gold+ not only gives you a 5% annual increase in gold but also offers complete flexibility in terms of withdrawal and redemption. The lack of making charges and the ability to grow your gold makes Gullak Gold+ a strong alternative to the Joyalukkas Gold Scheme.

Conclusion

The Joyalukkas monthly Gold Scheme remains a reliable and popular option for those who are planning to buy gold jewellery in the future. However, if your goal is to maximise your gold holdings & returns, modern platforms like Gullak Gold+ can provide greater returns and flexibility.