Anyone Knows about Bhima's Gold Purchase schemes

Deal Cadet
Anybody familiar with Bhima Gold Purchase schemes ?

Golden Key is the one plan I am considering from Bhima .
Pay an amount (min 5k) for 11 months and you get gold worth that much money at the end of 11 months without any making or value addition charges.
How does this sound ?
My plan is to diversify investments . Thats why looked for something like this .
Please do give opinions

Does anyone know if Card cashback offers are working on such schemes ? SBI Cashback Card or Axis Ace Card etc .
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Benevolent Benevolent
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About 2 years ago I  enrolled for such scheme in GRT, Lalithaa and indeed it was beneficial.

Look it at as expense minimizing (0 making charges) rather than investment. Investment can be restructured, here it is not, as at the end of the scheme you have to buy gold ornament from them.

During those days SBI had given me 5% CB now neither SBI or Axis cards give any rewards on gold.

Also see for any hidden tnc, as they keep changing.

Deal Cadet Deal Cadet
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In the past many such jewelers etc have ran away after running (and growing) such schemes. Be careful. 

Deal Lieutenant Deal Lieutenant
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Bhai dekh lo interest jitna de Diya tumne in these months

Deal Subedar Deal Subedar
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FIRST thing to look for in these schemes in the jeweller. They should be well established in your state with few branches in major cities.

Second, the scheme should accumulate gold in weight on the date of payment. Most jewellers have both schemes.

Third, the scheme should offer benefits of no making charges and no to low Value addition.

Remember you will always buy more gold than you save monthly, they will put making and va on the extra gold, so it's better pay more from the beginning with a goal in mind.

No matter what, you have to pay gst on the whole purchase.

Deal Cadet Deal Cadet
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Try bluestone by tanisq their schemes are good 

Helpful Helpful
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How u guys r calculating?

Famous shops deducting upto 18% charges, if we take these kind of schemes( for example, if we pay 5k monthly) end of the scheme they reduce  approximately 10k worth of making charges

Every month for 5k fd in bank, getting around 70 paisa interest only na, which is giving hardly 2-3 k by end of the yr

Where u guys investing to get around 10k in 1 yr ?

Deal Subedar Deal Subedar
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I have Joyalukkas gold GV available at best price

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