How to Successfully Buy Gold Jewellery on Instalments?

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buy gold jewellery on installments

The yellow metal in India needs no introduction. Be it in the form of jewellery as gifts or purely as an asset, Indians have always financially and emotionally invested in gold. With physical gold being scarce due to high demand, digital gold has also gained tremendous popularity among investors. It is easy to buy or sell, and also you have the luxury to leverage changes in the gold rates. 

This post will cover how to buy gold jewellery in instalments. Buying gold in a lump sum can be challenging, but that does not that you should give up investing in gold. With digital gold in Coimbatore, Delhi, Bangalore, or Hyderabad, you can invest it anywhere and accumulate it up to the amount you want. 

Here are the methods to buy gold jewellery in instalments: 

 

Digital Gold on eSwarna:

With the advent of the internet and the increasing demand for gold, a new method has emerged to buy yellow metal. This method has become a popular way to buy digital gold in Coimbatore or anywhere else in India. The best part is that you are guaranteed to buy 24-karat gold. eSwarna is one of the best platforms to buy digital gold. The reason can be attributed to features like the security of the gold, transparency in gold rates, and flexibility to invest the amount based on your preferences. 

 

 Things to Know While Buying Digital Gold:

  • You can buy digital gold in Coimbatore or anywhere else in India with a minimum investment of Rs. 100. 
  • You can avoid associated expenses and making fees while buying digital gold. 
  • The yellow metal is offered in 24-k purity. 
  • The purchased gold is stored in secured vaults verified by an independent trustee. The gold is stored until redemption. 
  • Investors do not have to levy storage charges for up to five years. 
  • The gold rates are determined on a real-time basis and without any deduction due to depreciation. 
  • You can convert gold into physical gold coins and bars. You can also redeem the gold by selling it back at the prevailing market price. 
  • The stored gold is secured against theft or losses.
  • It adds to liquidity, which means faster transactions while buying or selling gold.

 

Personal Loan EMI:

Do you wish to buy gold but don’t have the required funds? If so, getting a personal loan can help you cater to your needs. Through a personal loan, you can get the required amount at affordable interest rates. The benefit of a personal loan is that you do not have to pledge an asset with considerable value as collateral against the loan amount. The loan tenure may range between 12 months to five years. 

So, if you wish to buy gold jewellery and are looking to pay in instalments, a personal loan may be the best option for you to manage your finances. After getting the loan amount, you can buy your preferred gold jewellery and repay in equated monthly instalments (EMIs). However, there are a few things you should be mindful of, including selecting the lender to ensure you get the loan offers at affordable interest rates. 

Also read: Where to Get Gold on EMI?

Credit Card EMI:

Besides the personal loan EMI, there is another favourable option that you can use to buy gold in instalments. It is known as Credit Card EMI. If you have a credit card, you can buy gold jewellery and repay the amount in instalments such as EMIs

You must be wondering how you can buy gold with your credit card. You know you can purchase almost anything with your credit card as long as you have a favourable credit limit and repay within 30 to 50 days without paying any interest. But, if you wish to make a big-ticket purchase, you will have to convert it into easy EMIs. 

It is worth noting that lenders will charge a fixed processing fee if you want to buy gold jewellery in instalments through your credit card. The EMI payment is fixed as per the billing cycle every month. The credit card EMI interest rates range between 13% to 18% per annum. It is also worth mentioning that you will need to pay the applicable GST of 18% per annum on the interest amount on your credit card EMI. The repayment tenure can stretch up to 36 months.