Thangamayil Gold Scheme Review

By Team Gullak

Nov 13, 2024

4 min read

Gold investment is integral to Indian wealth management, reflecting cultural values and financial prudence. Thangamayil Gold Scheme offers a systematic savings plan amid India’s rising gold demand, projected at 797.3 tons in 2024, with 45 locations in Tamil Nadu. This article delves deep into Thangamayil's workings, advantages, and how it compares to other gold schemes like Gullak Gold+.

What is the Thangamayil Gold Scheme?

The Thangamayil Gold Scheme is a popular savings plan in India that allows you to purchase gold jewelry through manageable monthly instalments. In 2023, the scheme saw significant growth, with over 50,000 people investing—a remarkable 20% increase from the previous year. By making consistent deposits over 11 months, you earn a bonus equivalent to 75% of one monthly instalment, boosting your ability to buy gold jewellery equivalent to the accumulated sum.

How does the Thangamayil Gold Scheme work?

The Thangamayil Gold Scheme makes it easy to save for your gold purchases. Here's how it works:

Monthly Investments: For eleven months, you invest a fixed amount each month.
Bonus Month: In the twelfth month, you receive a bonus equivalent to 75% of your monthly installment.
Convenient Access: With over 40 stores across Tamil Nadu, Thangamayil ensures easy access for all customers.
Competitive Rates: As India is the world’s second-largest consumer of gold, this scheme offers significant advantages, including competitive gold rates.
Redemption: At the end of the scheme, you can redeem your savings for gold jewellery at the current market rate.

Benefits of Thangamayil Gold Scheme

The Thangamayil Gold Scheme offers the below benefits:

Monthly advances instead of one-time payment
On the 12th month, they provide you a bonus worth 75% of your monthly advance
You can redeem jewellery of your choice with the accumulated amount at the end of the tenure.

Comparison of Thangamayil Gold Scheme and Gullak Gold+

Before we proceed to the comparison, let’s understand what Gullak Gold+ is & how it works. Gullak Gold+ is a gold investment scheme where not only do you benefit from gold price increase but your gold quantity increases every year as well.

With Gullak Gold+, your gold grows by 5% every year. What does this mean? 100 gms invested in Gullak Gold+ becomes 105 gms in 1 year & 148 gms in 8 years. All the 148 gms benefit from gold price increase as well. There are no lock-in periods, you can withdraw anytime you want. You also have the flexibility to set up daily/weekly/monthly SIPs & pause or resume your investment anytime.

Now that we have some understanding of Gullak Gold+, let us compare both the assets, Thangamayil jewellery gold scheme & Gullak Gold+ in the table below:

Table: Thangamayil jewellery gold scheme vs Gullak Gold+

Feature	Thangamayil Gold Scheme	Gullak Gold+
Definition	Systematic payments for 11 months. On the 12th month, Thangamayil jewellers pay 75% of the monthly advance as a bonus	Scheme that allows you to grow your gold quantity by 5% every year along with all the other benefits of gold investments
Minimum Investment	₹1000/month	₹150/day
Lock-in Period	Lock-in period of 11 months	No Lock-in period, withdraw as cash/gold/redeem jewellery at Caratlane by Tanishq
Benefits	Thangamayil jewellers pay 75% of the monthly advance as a bonus on the 12th month	Extra 5% gold every year, If redeeming jewellery, get flat 5% off on gold price.
Payment terms	Fixed monthly advances	Can set up daily/weekly/monthly SIPs & pause, edit or resume when needed

Get Higher returns, more Benefits & Unlimited Flexibility

Explore Gullak Gold+

Which Monthly Gold Scheme is Best?

While the Thangamayil Gold Scheme offers you a bonus on the 12th month, Gullak Gold+ offers unmatched advantages for you as an investor. Here are 3 areas where Gullak gold+ stands out:

1. Extra gold: Growing your gold by 5% every year is not possible with any other gold asset other than Gullak Gold+. This leads to Gullak Gold+ giving the highest returns on Gold.

2. No lock-in period- Unlike the Thangamayil gold scheme, Gullak Gold+ doesn’t have any lock-in period. You can withdraw anytime.

3. You can set up SIPs in Gullak & the gold gets bought at the same time. On the other hand, with the Thangamayil gold scheme, you pay monthly advances but the gold gets bought only at the end of the 12 month tenure. This leads to you missing out on the gold price increase benefit for 1 year.

Only Scheme where Gold Quantity increases by 5%pa

Explore Gullak Gold+

Conclusion

When it comes to gold investment schemes in India, both the Thangamayil Gold Scheme and Gullak Gold+ offer unique benefits. However, Gullak Gold+ offers a gold quantity increase, which no one else does. The choice ultimately lies with the investor. Make sure to analyse any gold investment scheme before investing in them.

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