Kalyan Jewellers Gold scheme review

By Team Gullak

Oct 8, 2024

4 min read

Gold has long been considered a valuable asset in India, not only as a symbol of wealth but also as a stable form of investment. The Kalyan gold scheme is a renowned scheme that makes gold purchases more accessible and systematic in India. In this blog, we’ll go through the scheme’s details, pros & cons, compare it against other gold schemes & help you understand which gold scheme to choose.

Kalyan Jewellers Gold scheme

The Kalyan Jewellers Gold Scheme is a structured savings plan that allows customers to make monthly contributions over a specific tenure to accumulate savings for gold purchases. This plan is designed to encourage systematic saving, enabling customers to buy gold without the need for a large lump-sum payment.

The scheme generally lasts 11 months and at the end of the scheme, the customers get to buy gold jewellery from the Kalyan jewellers. Kalyan also provides additional discounts under this scheme during the time of claiming gold.

Scheme details:

Tenure/lock-in- 11 months

Flexibility- Every instalment needs to be paid within 31 days from the previous instalment

Benefit- Discount on gold or membership charges

Withdraw options- Jewellery or cash(cash will be your accumulated amount)

Extra charges- Membership fees charged from customers

Minimum investment- ₹500

Gullak Gold+ as an alternative gold saving scheme

Gullak Gold+ is a modern gold saving scheme. Here, you get the benefit of all other gold saving schemes along with extra gold every year. On Gullak Gold+, your gold quantity increases by 5% every year. So, 100 gms invested will become 105 gms in 1 year and 148 gms in 8 years.

Like other gold saving schemes, you can pay monthly advances by setting up SIPs. The difference though, is that your gold gets bought at your chosen SIP intervals. With other gold schemes, you do not get to buy gold until the ned of the scheme, leading to you missing out on almost a year’s worth of gold price appreciation.

Scheme details:

Tenure/lock-in- None, you can pause or withdraw anytime

Flexibility- Daily/weekly/monthly SIPs

Benefit- Grow your gold quantity by 5% every year

Withdraw options- Cash or gold coin or redeem jewellery at Gullak’s partner stores like Caratlane by Tanishq and claim flat 5% off on gold price.

Extra charges- None

Comparison: Kalyan Jewellers Gold scheme vs Gullak Gold+

In this section, we will compare the Kalyan gold scheme against Gullak Gold+.

Table: Kalyan Jewellers Gold scheme vs Gullak Gold+

Concluding thoughts on Kalyan Jewellers Gold scheme

The Kalyan Jewellers Gold scheme is an excellent choice for someone who is looking for a systematic way to buy gold jewellery of their choice. However, if you’re looking to get more from gold schemes, Gullak Gold+ is definitely worth checking out. The extra 5% gold pa isn’t available with any other gold saving schemes in India. That being said, investors should do their due diligence before choosing any investment scheme.