Muthoot Precious Metals launches new gold scheme

Muthoot Precious Metals Corporation (MPMC), one of the group companies of the Kerala-based Muthoot Group, launched a new scheme called ‘Muthoot Kanaka Vrishty Cumulative Scheme' here on Friday.

Under this plan, an individual, singly or jointly with any other person, must make a minimum monthly payment of Rs 1,000 and in multiples of Rs 500. This is a fixed advance payment plan for a tenure of 16, 23 and 28 months.

The customer can get the gold coin/bars after 12 months at today's price through 12 equal monthly instalments. A processing fee of two per cent will be charged along with the first advance.

A minimum of 10 gm gold coin/bar has to be purchased to become a member of the plan.

The advantage of the scheme is that the customer is saved from future price fluctuations and, with the minimal instalments, the customer can make sure that he/she makes a decent saving for tomorrow.

The scheme was launched by Malayalam cine actress Kavya Madhavan at a function held here.

Web site launched

The Ernakulam District Collector, Mr Sheik Pareeth, inaugurated Muthoot's online gold purchase by launching the Web site, www.muthootpreciousmetals.com, for purchase of gold coins online.

The online purchase also ensures free home delivery anywhere in India within three working days.

MPMC imports gold bullion from Switzerland and converts them into gold coins of smaller denominations to suit the investment requirements of people in denominations of 0.5-50 gm size.

The company also markets silver coins in 20, 50 and 100 gm sizes.

sajeevkumar@thehindu.co.in