Jewellers' gold savings schemes compared: what each brand really gives you

The schemes side by side

From each brand's own published terms, checked on 21 October 2026. Terms change and can differ by store and city: confirm them before you join.

Scheme	You pay	Benefit	Key rules
Tanishq Golden Harvest	10 monthly instalments, from ₹2,000	Discount of up to 75% of one instalment	Close within 400 days of opening. Tanishq jewellery only
CaratLane Treasure Chest	9 monthly instalments, from ₹1,000	Studded jewellery: one instalment. Plain gold: 30% of one instalment. Coins: nothing	Redeem between day 261 and 350. Can't cancel; no cash refund; no benefit if you stop early
Malabar Golden Glitz	Monthly for 11 months (330 days), from ₹1,000	Off making charges on gold: 40% (6 payments), 60% (9) or 75% (11). Gold weight builds up at each payment's rate	Redeem between day 330 and 360. Not settled by day 360: refunded without addition
Senco Swarna Yojana	11 monthly instalments, from ₹1,000	75% of one instalment	Late payments cut the benefit. Redeem within 60 days. Not for coins or bars
Bhima Samruddhi	11 monthly instalments, from ₹1,000	Making charges (VA) waived up to 20% on gold jewellery and coins	Less benefit if redeemed in months 8–10; none before. Three missed months ends the plan. No cash refund
Bhima Golden Key (online only)	11 monthly instalments, from ₹5,000	No making charges for the gold weight your money buys on the day you redeem	Bhima's website only. Not for 18K, diamonds or silver. No refund
Bhima Ratna	11 monthly instalments, from ₹5,000	Diamond jewellery: two instalments. Gold jewellery: one instalment	Redeem 30 days after the 11th instalment
Joyalukkas Easy Gold	10 monthly instalments, from ₹1,000	Gold: "up to 18% making charge discount". Diamond: 75% off making charges and 25% off stone value	Half the discount if redeemed between day 180 and 300. A default or a 60-day delay ends the plan or the discount. Not redeemed in 345 days: refunded to your bank. Coins and bars allowed
Kalyan Dhanvarsha	11 monthly instalments	Not published on Kalyan's website: ask the store	For gold, diamond, precious, polki and uncut jewellery

Other jewellers run schemes too; we've listed only those whose current terms we could check on their own websites.

What the benefit is worth, on ₹5,000 a month

Scheme	You pay in total	Benefit	As a share of what you pay
Tanishq Golden Harvest	₹50,000	Up to ₹3,750	Up to 7.5%
CaratLane, studded jewellery	₹45,000	₹5,000	11.1%
CaratLane, plain gold	₹45,000	₹1,500	3.3%
Senco Swarna Yojana	₹55,000	₹3,750	6.8%
Bhima Ratna, gold jewellery	₹55,000	₹5,000	9.1%
Bhima Ratna, diamond jewellery	₹55,000	₹10,000	18.2%

Malabar's, Bhima's and Joyalukkas's making-charge schemes depend on the piece. Joyalukkas's "up to 18%" on gold is its own wording: ask the store how it's applied to your piece. If a piece's making charges are 12% of its gold value, ₹55,000 of gold carries about ₹6,600 of making charges: 75% off (Malabar) saves about ₹4,950, and a waiver of up to 20% (Bhima Samruddhi) covers all of it. On a piece with low making charges, these schemes give less.

These are the maximum benefits, assuming every instalment is paid on time and the scheme is redeemed in its window.

How to compare for yourself

• Know what you'll buy. Plain gold, studded or diamond jewellery changes the benefit a lot, especially at CaratLane and Bhima Ratna.
• Compare in rupees. A free instalment, a percentage of one instalment and a making-charge discount aren't the same thing.
• Check the gold rate. Most schemes bill at the rate on the day you buy. Malabar's Golden Glitz builds up gold weight at each payment's rate instead.
• Compare with saving it yourself. The same ₹5,000 a month in a recurring deposit earns interest, and you can buy anywhere.

Why most schemes run under a year

Under the Companies (Acceptance of Deposits) Rules, 2014, an advance for goods isn't treated as a deposit if it's used for the goods within 365 days. That's why most schemes run 10 or 11 months. Some run longer (Senco's Swarna Vriddhi is 18 months): for a scheme over a year, ask the jeweller how it's regulated.

The risks

• No deposit insurance: if the jeweller closes, your money isn't protected like a bank deposit.
• Locked to one jeweller, and usually to jewellery, not coins or cash.
• Missed or late payments cut or cancel the benefit at most brands.
• Terms can change: several brands reserve the right to change or end schemes.

Before you join

1. Get the terms in writing, for your city and store.
2. Work out the benefit in rupees for what you plan to buy.
3. Note the redemption window and set a reminder.
4. Check the hallmark and HUID on what you redeem.

This compares published scheme terms. It isn't a recommendation of any scheme or jeweller.

Common questions

Two ways to sort this

Do it yourself

1. Get the scheme terms in writing for your store.
2. Work out the benefit in rupees for what you'll buy.
3. Compare it with an RD of the same amount.
4. Check the hallmark on what you redeem.

Let an expert do it

We help you report gold purchases and sales correctly in your return.

Chat with a tax expertThe first chat is free