South India Gold Scheme Review

By Team Gullak

Nov 21, 2024

3 min read

South India Jewellers are one of the most famous jewellers from Hyderabad and are one of the go-to options for purchasing jewellery in Telangana and Andhra Pradesh. Apart from their range of jewellery, South India Jewellers are also known for their Gold saving schemes. In this article, we will review different South India gold schemes and help you decide which to choose.

South India Gold Scheme overview

South India Gold Schemes are typically 11 month saving schemes. These Gold schemes facilitate systematic purchase of gold through small contributions every month. South India Gold Schemes are of two types- Golden Flexi Plan and Golden Eleven Plan. While both the schemes are fundamentally similar in how they work, the difference lies in how the amount gets accumulated.

South Indian Gold Scheme- Golden Flexi Plan

The Golden Flexi Plan allows you to make monthly contributions to the plan. Based on the monthly contributions, equivalent weight of gold gets bought every month. After the 11 month tenure, you’d be able to redeem gold jewellery of equivalent weight. Under the Golden Flexi Plan you also benefit from no VA charges on the accumulated gold.

Scheme Features:

Tenure: 11 month

Benefit: No VA charges on the accumulated gold

South Indian Gold Scheme- Golden Eleven Plan

The Golden Eleven Plan allows you to make monthly contributions to your South India Gold Scheme for 11 months. After the end of the tenure, you get to buy gold with the accumulated amount. No VA charges are applicable on the jewellery bought with the accumulated amount

Scheme Features:

Tenure: 11 month

Benefit: No VA charges on the accumulated gold

Can you get more out of your Gold scheme?

The schemes we discussed earlier are great ways of accumulating small amounts in gold but what if your gold could earn you more? Gold+ from Gullak is an innovative gold saving scheme where not only are able to make small monthly contributions, you also benefit from extra 5% gold every year. Refer to the table below to see how the value of your investments would change over the years, with Gullak Gold+:

The entire 148 gms would benefit from gold price increase as well. When you wish to withdraw, you can redeem your investments as cash or gold coins or even as jewellery at your favourite jewellers & claim additional discounts

Scheme Features:

Benefit: Only scheme where gold quantity increases by 5% pa, Additional 5% Discount on Gold when redeeming jewellery.

Payment modes: One-time investments as well as daily/weekly/monthly SIPs available

Minimum amount: ₹50/day

Tenure: No lock-in Periods, you can withdraw anytime you want to as cash or coin or jewellery

Conclusion

In this article, we have delved deep into the features of the South India Gold Scheme, types of schemes and alternatives. While the South India Gold Scheme is a great way of investing in Gold, if you are looking for ways to make more out of your Gold, Gullak Gold+ might be worth checking out.

That being said, investors should do their due-diligence before choosing any gold scheme.