Kanaka Vrishty is a Unique and well designed gold scheme with different tenures which enables customers to purchase coins of 999 fineness 24 karat gold by paying the value in advance installments. We facilitate collection of the instalments under the scheme through 4200 plus Muthoot Finance branches. One can join the Kanaka Vrishty scheme by visiting any of the Muthoot Finance outlets who will guide customers for opening accounts under the scheme. For customer convenience we are offering the option to pay the monthly advances either through online or at the outlets. The schemes are designed to enable one to invest in 24kt 999 pure gold coins and to cultivate the tradition of investing in gold. We are offering the following gold purchase schemes mainly depending upon one’s ability to pay the advance installments.
Elite Gold 1:
This Scheme is of 11 month 20 days period in which customer has to remit 11 equal monthly advance installments and a half of l2th installment. We encourage prompt payment of all 11 installments by the customer by passing on a discount of 50% on the 12th installment. (Total 12 instalments). Minimum advance payment under this scheme is Rs.1, 000/- and multiples of Rs.1,000/- thereafter.
E.g. If the monthly advance chosen by the customer is Rs. 1000/-, total amount customer has to remit under the scheme will be Rs. 11500/- (11 x 1000 + 1 x 500). Rs. 500 will be contributed by the firm which makes the maturity value Rs. 12000/-.
Elite Gold 2:
This is a 6 month scheme (180 days) in which customer has to remit six equal monthly advance installments. Minimum payment under this scheme is Rs. 2000/- and multiples of Rs. 1000/- thereafter. On successful completion of the scheme customer is entitled for a discount of 1.5% of the total remitted amount on the total value of the coin.
Elite Gold 3:
This is a three month scheme (90 days) in which customer has to remit 3 equal monthly advances. Minimum payment under this scheme is Rs. 2000/- and multiples of Rs. 1000/- thereafter. On successful completion of the scheme customer will be offered 0.5% discount (0.5% of the remitted amount) on the total value of the coin.
In all the above three schemes the price of gold coins will be fixed on the date of remittance of the last advance installment as per the prevailing Muthoot Gold Coin price for that day.