We went to buy gold coins, and they explained the gold schemes they offer. They mentioned that if we use their deposit bond, we could save up to ₹1.5 lakhs. This is because if we buy gold coins now, we’ll have to pay GST and other charges, and if we decide to convert the coins into jewelry later, there would be additional costs.
If we invest ₹5 lakhs in their gold scheme bond, we can buy gold after 11 months at the prevailing rate on that day and only pay GST extra. However, if we choose the 18-month bond, we won’t have to pay anything extra at all.
Could someone explain this further? I’m a bit confused about whether this is actually beneficial for us.
What is your goal for buying Gold coins ? If it is pure investment, then their scheme is entirely irrelevant. If you don't forsee any need of buying Gold Jewelry in 18 months, then what benefit does "forced" purchase at 18 months provide to you.
If you purchase the Jewelry in 2026 at the then prevalent price then you haven't made any benefit of the price rise in Gold. Only benefit is in the saved GST and making charges. Check the rates of these as of today and see if x% return over 18 month period makes sense to you.
Additionally, also recognize that you are effectively getting locked-in into eventually buying the Jewelry from them instead of elsewhere.
I have been working in the IT industry for around 14 years, and as a result, I have built up my savings without any debts. My current monthly income is ₹1.7 lakhs. I work from home and have minimal expenses, as my parents cover most of m...
Suggestion is to get married lol. Jk:)
Stop SBI and LIC and instead buy a term insurance from Private players, and invest remaining amount into MF, try to i...
Are SGBs worth it? What happens if we buy from the secondary market instead of RBI? How is the interest calculated for those? Is the interest taxed as per slab?
I’ve around 30L of cash. What’s the best place to invest? I’m worried about the volatility of the market.
TLDR; I want help in financial planning for my marriage. I have 3 questions which are written at the end of this post.
Hi everyone,
I sat with my parents to prepare most basic itinerary for 4 functions of marriage, which also incl...
Don't marry
