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L.N. Revathy

Coimbatore, July 21 Taking cue from the systematic investment plan (SIP) offering by the mutual funds, Coimbatore-based Sri Lakshmi Jewellery has floated the ‘Sadurya’ scheme, which allows investors accumulate the sums remitted as ‘gold’.

The jewel store has given a slight twist to the SIP concept by allowing the customer make the monthly remittance within the first fortnight and not on the specified date (enrolment date), every month.

Asked to explain the benefit of the flexibility option, its Managing Director, Mr M. Srinivasan, said: “It is a highly volatile commodity. We want to give our customers the benefit of accumulating gold at a relatively lower rate, albeit within the first fortnight (of every month).”

“For instance, at today’s rate of Rs 1250/gm, an investment of Rs 500 under the scheme would fetch the customer 0.4 gm of gold. The customer can watch the rate movement and make his remittance on the day he deems best. The installments are credited as gold.”

The customer, enrolled under the Sadurya Scheme, makes a monthly remittance of Rs 500 for a period of 20 months. At the end of this period, the payback value of the investment is Rs 10,250, inclusive of Rs 250 as bonus.

“At the end of this period, the investor would be able to select the ornament based on the gold accumulated in his/her account and not just a piece of jewel for Rs 10,250. While the value of the jewel would depend on the rate of ornament gold on the date of sale, the customer enjoys the option of accumulating gold at different price levels over this 20 month period. This accumulation would be more than what one can buy for Rs 10,250,” Mr Srinivasan said.

The scheme, floated about a year ago, is said to be the most popular one among the eight savings scheme offered by the jewellery store.

According to Mr Srinivasan, more than 12,000 customers had registered under this scheme till date.

More Stories on : Promotions & Offers | Gems & Jewellery | Tamil Nadu

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