Jewellery Savings Schemes: Are You Getting a Fair Deal?

Jewellers offer monthly savings schemes where you deposit a fixed amount and get a bonus or discount on jewellery later. Sounds like a great deal — but there are real risks most buyers miss before signing up.

Here's what happened: Jewellery chains across India run monthly deposit schemes where customers pay a fixed amount for 10–12 months and get a bonus instalment or discount on purchase.. These schemes are NOT regulated by RBI or SEBI — they are run directly by jewellers, making customer money vulnerable if the jeweller shuts down or defaults.. Benefits vary widely: some schemes offer one free instalment, others give a percentage discount on making charges, and redemption is often restricted to specific collections or dates..

What you should do: Read the full terms before enrolling — check if the bonus applies to the gold price, making charges, or only select items, as these differ greatly across jewellers.. Avoid depositing large sums with small or unregistered jewellers; stick to publicly listed chains with audited financials and a physical store track record of at least 10 years.. Compare the effective return: if a scheme gives ₹5,000 free on ₹55,000 deposited, that is roughly 9% — check whether a gold ETF SIP or Sovereign Gold Bond would grow more in the same period..

Sovereign Gold Bonds (SGBs) issued by the RBI give you 2.5% annual interest PLUS gold price appreciation — and your capital is government-backed, unlike any jeweller's scheme.