The Thangamagal scheme by Thangamayil Jewellery Limited is a strategic and advantageous gold saving plan designed to facilitate customers in accumulating gold through systematic savings. Below is a summary that elucidates the primary features and benefits of the Thangamagal scheme.
Open to individuals 18 years and older, ensuring responsible participation in the saving scheme.
Allows contributions starting from Rs. 1000 and in increments of Rs. 500, providing flexibility in savings.
The scheme requires 11 monthly installments, making it a manageable commitment for a wide range of customers.
Culminates on the 330th day from joining, with a 35-day window post-maturity for redemption, aligning savings with future financial planning.
Installments are credited as amounts, with the gold equivalent to be availed at the current 22 karat price on the redemption day.
Members can avail a 75% discount on the wastage and making charges for gold jewelry and a 60% discount for Gold JewelOne products and diamond-studded gold jewelry.
For silver regular items, customers enjoy a 100% discount on wastage and making charges.
Upon maturity, customers can choose from a wide range of gold, diamond, and silver jewellery available at all Thangamayil branches.
Installments can be paid directly at branches or through the Thangamayil DigiGold mobile app or website, ensuring ease of access and payment.
Since the scheme is being enrolled digitally, no physical passbook is required at the time of purchase rather you’ll be submitting a redemption request form along with OTP which sent to the registered mobile number.
Jewelry equivalent to the accumulated gold weight must be selected within 35 days post-maturity to avail the scheme benefits.
Installments paid towards the scheme cannot be refunded but must be redeemed as gold, diamond jewelry, or silver items.
Customers are responsible for paying GST and any additional charges like hallmarking on the selected jewelry.
The Thangamagal scheme is an exemplary saving plan for those looking to invest in gold, offering not only the opportunity to save systematically but also to enjoy considerable discounts on jewelry purchases. It stands out for its flexibility, security, and the financial benefits it provides, making it an attractive option for individuals planning to invest in gold or purchase jewelry with added advantages.
