Malabar Gold Scheme: Details, Features & Benefits

Malabar Gold & Diamonds is the flagship company of Malabar Group, a leading diversified Indian business conglomerate. Malabar Gold & Diamonds is a prominent jeweller in India that offers its clients a huge variety of choices and designs. Apart from offering an extensive range of jewellery, the brand has held BIS hallmark certification, which is a guarantee of purity. 

It is spread across 10 countries around the globe with over 285 retail stores. Further, it also offers lifetime maintenance for jewellery. One of the attractive schemes offered by the brand is the Malabar Gold Scheme. 

Read on to learn more about the gold investment scheme and how you can avail it. 

What Is the Malabar Gold Scheme?

The Malabar Gold Scheme is a popular gold investment scheme in India that lets you purchase gold jewellery in instalments. You can purchase customisable and made-to-order gold jewellery at discounted prices under the scheme.

Malabar promises to provide only BIS hallmark 916 gold. Accountability of this scheme is strong as all products are offered while maintaining the highest standards of transparency.

Types of Gold Schemes Offered by Malabar

There are primarily two types of gold schemes offered by Malabar Gold & Diamonds: 

• Malabar Gold & Diamond Smart Buy Scheme

The Smart Buy scheme option is available for customers who wish to save money on their jewellery purchases. Customers can pay for jewellery products in advance by using various online payment methods. 

After placing the order, the product will be manufactured and delivered to you on the promised delivery date. If you purchase jewellery products under this scheme, you can get attractive discounts and order products that are in stock and products that are out of stock. 

However, this scheme is only applicable to jewellery items that do not have any specific size-related customisations, such as nose pins, necklaces, and pendants. 

At the same time, pieces of jewellery such as chains, rings, bangles and bracelets that require customisation can be bought through the ‘Smart buy + customise’ feature available online on the page along with the product details.

• Malabar Gold EMI Scheme

Malabar Gold & Diamonds came up with this scheme to help customers plan their jewellery purchases in advance and buy them through instalments. Anyone can opt for this scheme through the online store and redeem it at any retail store across the country. 

Under this scheme, the minimum monthly advance instalment is fixed at ₹1000. The Equivalent Monthly Instalments (EMI) can range from ₹ 1000 to ₹ 40,000, depending on the piece of jewellery you chose at the beginning of the contract.

You need to pay the instalment amount regularly on the due date for a period of 11 months. After paying for 11 months, you can buy the jewellery at the prevailing gold rate without having to pay the making charges of 12%. However, this benefit applies only to select ornaments.

However, if the making charge for the selected jewellery is higher than 12%, you have to pay the remaining difference. Stone charges and taxes will have to be borne by you as applicable on selected jewellery items. 

Also Read: Is Demat Account Required for Mutual Fund in India?

Features of the Malabar Gold Scheme

Apart from offering attractive discounts on jewellery purchases, there are some other notable features of the Malabar Gold Scheme:

• Payment is to be made in advance

If you wish to buy jewellery under this scheme, you will have to pay upfront. You will only be able to place the order upon advance payment.

• Price might change

The product’s price under the “Make to Order” category is only an estimated value. The price might be subject to change depending on the final product’s weight. If there is any such revision in price after the product is made, the customer service team will inform you. 

• Festive-specific scheme

Most discounts are offered during special occasions and festivals. Therefore, you should be alert if you wish to take advantage of the scheme. 

Benefits of the Malabar Gold Scheme

The Malabar Gold Scheme offers you the opportunity to buy gold jewellery of your choice in a smart and convenient manner. Here are the main benefits of the Malabar Gold Scheme:

• Affordable Price of Jewellery in Stock

This scheme lets you buy gold and diamond jewellery at affordable rates. You can review the items that are available in stock online and simply place your order. Buying jewellery items under this scheme is cost-efficient as they are generally offered at a good discount. 

• Buy Jewellery that is Out of Stock

This scheme is also valid for products that are out of stock. Therefore, if you wish to buy a piece of jewellery that is currently out of stock, you can use the smart buy option. Under this scheme, that particular product will be specifically made for you and delivered to your address.

• Avail attractive discounts

The best benefit of this scheme is that you can avail attractive discounts on the price of gold. Under this scheme, you can avail gold at a lower rate than regular gold prices. This allows you to buy the jewellery of your choice from a trusted brand while saving money simultaneously. 

• Customisation

You can customise your jewellery according to your needs under this scheme. Certain pieces of jewellery, such as rings, bangles and bracelets, come in several sizes. Before placing your order, you can select your size so that the jewellery can be customised as per your preference. 

Terms and Conditions of Malabar Gold Scheme

Following are the terms and conditions of the Malabar Gold Scheme:

• There may be minor pricing differences between the final product and the amount paid when you place an order. 
• The standard 14-day return policy is not applicable to the products ordered under the scheme. If you are unsatisfied with the product, you can return it to any retail store, for which the normal exchange policy and buy-back rate will be applicable.
• The discounts may vary from one product to another. 

How to Purchase Jewellery under the Malabar Gold Scheme?

You can reap the benefits of attractive discounts on gold prices through the Malabar Gold Scheme. Under this scheme, you can purchase both made-to-order and customised products per your preference.

Both procedures are similar However, there are certain differences when it comes to purchasing products that are available in stock and out-of-stock products. They have been discussed below in detail: 

Products with the “Make to Order” option

Jewellery items such as earrings, nose pins, necklaces and pendants that do not require size-related customisation fall under this option. Here are the steps you can follow to place your order for such items:

Products In Stock

• Step 1: Check out the product page and select the jewellery of your choice. 
• Step 2: Select the “Make to Order” option. 
• Step 3: The discount applicable on Malabar gold price and the expected delivery date will be available to you. 
• Step 4: You can then place your order. 

Products Out of Stock

• Step 1: Head to the product page and select the jewellery of your choice. 
• Step 2: As this product is out of stock, you will not be able to place an order in a regular manner. Select the “Make to Order” option. Please note that the delivery date might be delayed. 
• Step 3: Place your order for the out-of-stock item. 

Products with the “Make to Order + Customise” option

Jewellery that comes in different sizes, such as rings, bangles and bracelets, fall under this category. You can avail of the customisation option to buy the jewellery that fits you right.

Products In Stock

• Step 1: Go to the product page and check if the product of your choice is available in your required size. It might be that the product of your choice is in stock, but the size is not. 
• Step 2: Select the “Make to Order + Customise” option. This way, you choose the product available in stock that would be made to order as per your size. 
• Step 3: Then you can see the discounts that are available on the gold rates as well as the expected date of delivery. 
• Step 4: After this, you can place your order. 

Products Out of Stock

• Step 1: Visit the product page. 
• Step 2: Click the “Make to Order + Customise” option and place your order. 
• Step 3: Make the advance payment and place your order. 

Final Word

The Malabar Gold Scheme offers a number of benefits to its customers. You can buy out-of-stock as well as in-stock jewellery, that too from the comfort of your home. 

Not only that, but you also get to purchase the jewellery items at a discounted rate, sealed with the trust of Malabar Gold & Diamonds. You can visit their website to learn more about the schemes and how to avail them.

Frequently Asked Questions