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NCDEX Spot Exchange and RiddiSiddhi Bullions launched a systematic investment plan in gold and silver.
Finkurve Financial Services, the newly formed joint venture company, offers the investment plan where investors can set aside a small amount for six months to 36 months. Investors are allotted units equivalent to their investment. At the end of the tenure they can redeem these units for the precious metal.
The Unit Systematic Plan is available online on the Bullion India Web site and customers can register online and by uploading their details. They can also register and apply for the plan through the agent and broker network of Bullion India.
The minimum investment has been kept at Rs 1,000 to make the precious metal affordable for every one, said the company’s press release on Monday.
Customer accounts will be credited with gold and silver units on a daily basis. Gold and silver equivalent to units allotted is kept with the vaulting agencies and is controlled and monitored by an independent trustee, IDBI Trusteeship Services, it added.
Sachin Kothari, Director, Bullion India, said a daily holding statement will be available to customers on the company’s Web site, besides customers will also receive e-mail and SMS confirmation at the time of application and on days of deposits.
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