Unlocking the Potential of Your Gold: Aaditya Lyenger's Smart Investment Tip
Aaditya Lyenger suggests using the Gold Monetization Scheme, earning extra interest on idle gold.
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Unlocking the Potential of Your Gold: Aaditya Lyenger's Smart Investment Tip
Photo Credit: Aaditya Lyengar Instagram
- Aaditya Lyenger recommends the Gold Monetization Scheme
- The scheme includes insurance coverage of Rs. 5 lakh
- If you plan to use jewelry in the future, avoid the scheme
Aaditya Lyenger offers a valuable financial tip for those looking to make their gold assets work harder. While many people are aware of Sovereign Gold Bonds as an excellent way to invest in gold with a 2.5% interest rate, he highlights an alternative – the Gold Monetization Scheme.
About the Gold Monetization Scheme:
This scheme allows individuals to put their idle gold to work, even if it's just sitting at home. Here's how it works: if you have purchased gold primarily for investment purposes, you can take it to a bank and apply for this scheme. The bank takes custody of your gold for a fixed period, during which you can earn an extra interest of 2.25% to 2.5%. Additionally, you'll benefit from any increase in the price of gold during this time. The bank may utilize your gold for various operations, such as leasing it to others.
It's essential to consider two critical aspects when opting for this scheme. Firstly, the scheme comes with insurance coverage worth Rs. 5 lakhs, providing added security to your investment. Secondly, if you have jewelry that you intend to use in the future, it's advisable not to deposit it in the scheme.
Participating in the scheme involves providing a gold melting consent, which means that the gold you receive back may have the same quantity but in a different form. This not only saves you storage costs but also allows you to earn extra interest while ensuring the safety of your gold assets. Ultimately, Aaditya's suggestion highlights a smart and potentially lucrative way to put your gold to work for your financial benefit.
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