There are a lot of such opportunities out in the market which we should be evaluating and trying to invest in- of course one needs to ensure that the risk associated with these is appropriate.One such great opportunity is the Titan Gold Harvest scheme for buying gold jewellery.
Basically you put in a SIP for greater than 3000 Rs/ month ( in multiples of 500 ) for 11 months and you get one month of SIP free.
So lets assume you put in 3000Rs per month. So in 11 months you would have invested 33,000Rs. In the 12th month, you would get 3000Rs added from titan- which means that you now have an overall amount of Rs 36,000 with them.
The benefit is quite clear for everyone to see. If you caculate the interest rate on a monthly basis - you will be getting 15.6% annualized returns- Tax free.
Great isnt it?
Now you can use this money to buy jewellary from Titan. One cannot purchase gold coins ( pure gold , but anything else is possible, gold, platinum, diamonds!)
Whats in it for Titan? Yes, this is a great question. But what this does for titan is that
1. it gets them confirmed sales for their jewellery- so its great for their business. The more people they have on this- the better it is for them! Hence you will always see their salespeople trying to push customers to go for this .
2. They also get funding for their business from their customers! Nowdays usually the cost of funding from banks is around 20%. So this is a great way for them to get cheaper funds!
My thoughts for this- go ahead- Gold is always a great investment and should form 5%-10% of your investment portfolio. This is also a great way to keep your wife happy or if you are saving for your daugters wedding!
Happy investing!!
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