<p>Tanishq, jewellery division of Titan, is currently offering two schemes to help customers plan their jewellery purchase. ‘Golden Harvest Scheme’ where a customer has to pay 11 equal installments for 11 months and get one installment free from the company. The accumulated amount can be used to buy jewellery at the end of 12th Month. <br /><br />The other scheme ‘Swarnanidhi’ is a gold grammage booking scheme where in a customer every month can book gold at the current rate by paying flexible installments. This is a 24 month scheme.<br /><br />Speaking to Deccan Herald, Tanishq Marketing Head Bhuwan Gaurav said “Swarnanidhi protects customers against perennial rising gold rate. This is helpful to wedding customers who can plan long term by investing in this scheme. Also gold grammage scheme was a long term requirement from our customers which we have introduced now.”<br /><br />The regulation says this scheme is valid till the point customer can only buy jewellery and no cash refunds should be given after the maturity of these schemes.<br /><br />Rate protection plan<br />C Krishniah Chetty & Sons announced the first “Rate Protection Plan” MD Vinod Hayagriv says “it allows jewellery consumers to protect themselves from rising gold, silver and also diamond rates by offering them “averaged” gold, diamond and silver rates as the consumer pays their installments over a period.”<br /><br />Under Krishniah Chetty’s plan a consumer can plan their savings into “Rate Protection Plan” from 12 to 60 months; contributing from as little as Rs 250 to Rs 100,000 (or more) per month. <br /><br />The scheme also allows varying amounts every month (allowing higher cash flow months or when gold rates dip); on monthly, quarterly, half yearly or yearly basis. Customers can pay through one-time facility to put away larger amounts for longer periods while still protecting the rates; buy jewellery and products at time of maturity, Vinod added.<br /><br />As there is quantum jump in small purchasers among buying community, targetting such customers Joyalukkas has launched ‘Easy Gold Scheme’, with two options of 15 and 24 months, respectively, with basic investment of Rs 500 per month. At the end of 15 months, the scheme enables customers to get bonus of Rs 500 and a gift value of Rs 200. <br /><br />On the schemes, Bangalore Jeweller Association Secretary Venkatesh Babu asserts “the customer must be cautious and know their jewellers well before investing in such schemes.<br /><br />As an association we don’t have any rules and regulation with regard to various schemes offered by the retailers, our suggestion to jewellers is not to get into unethical trade practices” Babu added.<br /></p>
<p>Tanishq, jewellery division of Titan, is currently offering two schemes to help customers plan their jewellery purchase. ‘Golden Harvest Scheme’ where a customer has to pay 11 equal installments for 11 months and get one installment free from the company. The accumulated amount can be used to buy jewellery at the end of 12th Month. <br /><br />The other scheme ‘Swarnanidhi’ is a gold grammage booking scheme where in a customer every month can book gold at the current rate by paying flexible installments. This is a 24 month scheme.<br /><br />Speaking to Deccan Herald, Tanishq Marketing Head Bhuwan Gaurav said “Swarnanidhi protects customers against perennial rising gold rate. This is helpful to wedding customers who can plan long term by investing in this scheme. Also gold grammage scheme was a long term requirement from our customers which we have introduced now.”<br /><br />The regulation says this scheme is valid till the point customer can only buy jewellery and no cash refunds should be given after the maturity of these schemes.<br /><br />Rate protection plan<br />C Krishniah Chetty & Sons announced the first “Rate Protection Plan” MD Vinod Hayagriv says “it allows jewellery consumers to protect themselves from rising gold, silver and also diamond rates by offering them “averaged” gold, diamond and silver rates as the consumer pays their installments over a period.”<br /><br />Under Krishniah Chetty’s plan a consumer can plan their savings into “Rate Protection Plan” from 12 to 60 months; contributing from as little as Rs 250 to Rs 100,000 (or more) per month. <br /><br />The scheme also allows varying amounts every month (allowing higher cash flow months or when gold rates dip); on monthly, quarterly, half yearly or yearly basis. Customers can pay through one-time facility to put away larger amounts for longer periods while still protecting the rates; buy jewellery and products at time of maturity, Vinod added.<br /><br />As there is quantum jump in small purchasers among buying community, targetting such customers Joyalukkas has launched ‘Easy Gold Scheme’, with two options of 15 and 24 months, respectively, with basic investment of Rs 500 per month. At the end of 15 months, the scheme enables customers to get bonus of Rs 500 and a gift value of Rs 200. <br /><br />On the schemes, Bangalore Jeweller Association Secretary Venkatesh Babu asserts “the customer must be cautious and know their jewellers well before investing in such schemes.<br /><br />As an association we don’t have any rules and regulation with regard to various schemes offered by the retailers, our suggestion to jewellers is not to get into unethical trade practices” Babu added.<br /></p>
