Titan's Gold Harvest Scheme

I was in the titan showroom sometime ago and the salesperson started telling me on this golden harvest scheme of theirs which i found quite interesting.

In this scheme, you can put in some money every month ( like an emi) , the company will then add one month of the emi to your own and then you can use the collated money to purchase gold jewellery from titan.

So here are some calculations.

If the company gives you one month of your emi of 11months-- then using some basic calculations they are offering you an interest rate of  1/11 = 9.09%--which is fantastic!!

However there are some nuances to this. You can only buy gold jewellery-- No diamonds,no gold coins. The jewellery anyway has a lot of making charges against it... which you will need to pay.

So if you are into buying gold for your children - gold jewellery- for their future use-- this deal makes a hell of a lot of sense-- go ahead and evaluate it..

I know i am seriously thinking about this.

Happy investing

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