Tanishq Gold Schemes

Tanishq is an Indian-based jewellery manufacturing company. A subsidiary of the Tata Sons group, Tanishq was set up under the Titan brand as an edgy and contemporary jewellery brand.

The company’s unique style and product range has contributed to its appeal across the country.

Set up in 1994, the company has its headquarters in Bangalore, Karnataka while it has a large manufacturing facility in nearby Hosur, Tamil Nadu.

Gold Schemes By Tanishq

The company has a pan-India presence, with stores across all major Tier-I cities as well as an emerging presence across Tier-II and Tier-III cities as well.

Tanishq blends contemporary design with traditional motifs to create statement jewellery that caters to the changing jewellery taste of the Indian market. The company has dedicated product ranges for work wear, traditional bridal sets as well as casual jewellery.

The company mainly produces gold jewellery of the 22 karat and 18 karat purity range, interspersed with precious stones and pearls.

The company is looking at emerging markets in semi-urban areas and has launched the GoldPlus store chain to cater specifically to this market’s buying patterns and needs.

Tanishq Golden Harvest Scheme

Tanishq has constantly been aiming for excellence in its product quality and delivery and optimising the customer experience. As part of this, it has launched the Tanishq Golden Harvest, which is a jewellery purchase scheme that allows individuals to deposit a sum of money every month, which can be used to make a jewellery purchase at a subsidized rate.

This scheme allows individuals to set aside money for a purchase at a later date and also avail of a discount on the purchase. Tanishq has a 10 month as well as a 6 month scheme, allowing individuals to select one based on their needs.

Tanishq Golden Harvest Scheme Features:

  • The scheme allows an individual to deposit a sum of money every month for 10 or 6 months which can be redeemed against a jewellery purchase on maturity of the scheme.
  • The purchased jewellery will be subject to a special discount for a percentage depending on the amount deposited.

Tanishq Golden Harvest Scheme Benefits:

  • Individuals can plan financially for a jewellery purchase.
  • Individuals are free to choose the amount deposited with Tanishq every month based on their needs/financial position.
  • Individuals can avail a discount of up to 75% of the jewellery value upon purchase through this scheme.

Terms and Conditions:

  • As per this scheme, the individual is to make a minimum deposit of Rs.2,000 every month for a period of 10 months or 6 months (depending on the plan selected).
  • The account will be closed within 385 days of the account being opened in case of the 10 month scheme and 235 days in case of the 6 month scheme.
  • The scheme covers the purchase of gold and diamond jewellery only. Gold and silver coins cannot be purchased under the scheme.
  • Only one instalment can be made in a month.
  • If the individual does not make a deposit for more than 2 months, the scheme stands cancelled and the principal amount will be refunded.
  • The amount is to be redeemed within a period of 235 days (in case of the 6 month scheme) and 385 days (in case of the 10 month scheme).
  • The individual are to record all payments in a Scheme Book, which will be handed over upon registering for the scheme.

Tanishq Swarnanidhi Scheme

The Tanishq Swarnanidhi Scheme is a gold booking scheme which entitles the individual to book grams of gold and redeem them against gold purchases from Tanishq. Under the scheme, the individual is required to make a deposit/deposits every month for 8 months, with the amount converted into gold grams based on the prevailing gold rate at the time of the deposit being made.

The total amount at the end of the 8 month period can then be used to buy jewellery against the value of a gram of gold at the time of purchase.

For example, if the individual has booked a total of 200 grams over the term of the scheme and the prevailing gold rate at the time of redemption is Rs.3,000 per gram, the individual can buy gold worth Rs.6,00,000.

Tanishq Swarnanidhi Scheme Features:

  • The individual can save up for gold purchases by setting aside an amount each month.
  • The individual can redeem the gold grams bought at any time following the scheme’s maturity as dependent on the prevailing gold rate.

Tanishq Swarnanidhi Scheme Benefits:

  • Individuals can save and have a corpus for a gold purchase in the future.
  • No limit on the number of instalments made during the term of the scheme.
  • Individuals will be making deposits and the grams will be calculated on a monthly basis. If the price of gold rises at the time of redemption, the individual will have a larger corpus with which to make a purchase.

Terms and Conditions:

  • The company will book the corresponding number of grams of gold depending on the amount deposited by the individual at each deposit.
  • The pre-booked grams will be encashed at the prevailing gold rate at the time of redemption and a credit note will released to the individual for purchase of gold jewellery from Tanishq.
  • The gold grams are to be redeemed within 10 months of enrolling in the scheme.
  • Only jewellery can purchased under the scheme. Gold or silver coins cannot be bought under the scheme.
  • If the individual does not make a purchase within 10 months of the enrolling for the scheme, the amount will be refunded to the individual without any interest or benefit.
  • Any service tax, wastage, making charges etc. are to be paid for separately and are not covered under the scheme amount.
  • A minimum of Rs.3,000 is to be paid for each instalment every month. Additional amounts are to be made in multiples of Rs.1,000.
  • The gold jewellery selected under the scheme should be of the same or higher value of the pre-booked gold grams.
  • The scheme can be altered, changed or suspended at the discretion of the company.

The Tanishq Gold Schemes provide individuals with a means to make gold purchases through different schemes that take the burden off a one-time payment by allowing them to set aside money every month. The attractive benefits and discounts also serve to motivate individuals to save up for a gold purchase, boosting gold sales and resulting in customers who are satisfied they received their money’s worth.

Also Know About the other Gold Schemes by Banks

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