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Jeweller or Bank? The Gold Saving Schemes Indians Are Choosing in 2026
Author
Shoonya Team
Gold is a popular investment in India because it’s easy to sell and stays valuable even when the economy isn’t doing well. But buying gold can be tough for most people. Rising gold prices have made lump-sum purchases difficult. Gold saving schemes address this by allowing individuals to invest fixed amounts monthly, making gold accumulation more structured and accessible. With both jewellers and banks offering these schemes, choosing the right option in 2026 is important.
Let us see how the best gold-saving schemes make acquiring gold more affordable for everyone.
What is Gold Saving Scheme?
A gold saving scheme is a structured product usually offered by jewellers and banks, where you invest a fixed amount every month for a set period, typically 10 to 12 months.
The gold investment scheme helps you build a corpus that can later be redeemed for gold jewellery, coins, or bars. Many gold schemes by jewellers also offer added gold scheme benefits, such as a bonus instalment or discounts on making charges. This makes them popular for planned purchases like weddings and festivals.
How Online Gold Saving Schemes Work
- You enrol with a jeweller offering a gold savings scheme and select a monthly instalment amount that suits your budget.
- You pay fixed monthly instalments, such as ₹1,000 or ₹5,000, throughout the chosen tenure, usually 10 or 11 months.
- Your payments accumulate over time, functioning as a disciplined gold monthly investment scheme that helps manage price fluctuations.
- At maturity, the accumulated amount is redeemed for gold, often with additional benefits like a free bonus instalment or reduced making charges.
Best Gold Saving Scheme in India – 2026
Gold savings schemes in India vary widely in structure and benefits, depending on whether they are offered by jewellers or banks. While jeweller schemes focus on facilitating jewellery purchases, bank schemes treat gold as a financial asset.
Below is a curated list of the most popular gold savings schemes in India for 2026, categorised by jeweller-led and bank-led options to make comparison easier.
Top Gold Savings Schemes by Jewellers
- Tanishq Golden Harvest
- Kalyan Jewellers Gold Scheme
- Malabar Gold & Diamonds Golden Bloom
- GRT Jewellers Golden Eleven
- Joyalukkas Easy Gold
Top Gold Schemes by Banks
- State Bank of India Revamped Gold Deposit Scheme (STBD)
- Sovereign Gold Bonds
- Gold Monetisation Scheme (STBD)
- Punjab National Bank Gold Deposit Scheme
Which are the Best Gold Schemes by Jewellers in 2026
Among the top gold investment schemes offered by jewellers in India in 2026 are:
| Jeweller | Scheme Name | Tenure | Minimum Instalment | Key Benefit |
| Tanishq | Golden Harvest | 10 months | ₹2,000 | Earn up to 75 percent of the first instalment as a jewellery discount |
| Kalyan Jewellers | Gold Scheme | 11 months | ₹500 | Assured membership discounts on selected gold ornaments |
| Malabar Gold & Diamonds | Golden Bloom | 11 months | Not specified | Up to 18 percent exemption on making charges |
| GRT Jewellers | Golden Eleven | 11 months | ₹500 | 50 percent discount on value addition up to 18 percent |
| Joyalukkas | Easy Gold | 10 to 12 months | Not specified | Up to 20 percent wastage waiver or zero making charges up to 18 percent |
Gold Investment Schemes By Jewellers 2026: An Overview
When choosing a gold savings scheme from jewellers, you must consider factors such as scheme tenure and overall benefits offered.
1. Tanishq Golden Harvest
The Tanishq gold scheme is a well-known gold saving scheme that runs for 10 months, with a minimum monthly instalment of ₹2,000.
This gold investment scheme rewards customers with up to 75 percent of the first instalment as a jewellery discount at maturity, making it one of the most trusted gold schemes by jewellers. Payments must be made on time, as missed instalments can cause the scheme to lapse. Among gold schemes in India, it is often considered by buyers looking for a reliable gold monthly investment scheme.
2. Kalyan Jewellers Gold Scheme
The Kalyan gold scheme is an 11 month gold savings scheme that allows customers to start with monthly instalments from ₹500.
This gold investment scheme includes jewellery discounts at maturity and additional benefits on diamond and studded jewellery, depending on membership tier. It is commonly chosen by families planning weddings, as it helps average gold prices over time.
When comparing which gold scheme is best for long-term purchases, this remains one of the popular gold schemes by jewellers.
3. Malabar Gold & Diamonds Golden Bloom
The Malabar gold scheme follows an 11 month structure and focuses on savings through reduced wastage and making charges rather than upfront discounts.
This gold saving scheme also averages gold rates over the investment period, offering protection against price volatility. Customers can exit the plan after six months if needed, adding flexibility to this gold monthly investment scheme. It is often counted among the best gold schemes in India for advanced jewellery planning.
4. GRT Jewellers Golden Eleven
The GRT gold saving scheme is an 11-month gold investment scheme with instalments starting as low as ₹500. It offers discounts on wastage and value addition on gold, diamond, and platinum jewellery at maturity.
This scheme also allows both value-based and weight-based accumulation, giving customers flexibility. Among gold schemes by jewellers, it is preferred by buyers seeking a simple structure and predictable benefits.
5. Joyalukkas Easy Gold
The Joyalukkas Easy Gold plan is a 10-month gold saving scheme starting from ₹1,000 per month. This gold investment scheme offers zero making charges up to a fixed percentage on gold and silver jewellery, with additional benefits on higher monthly amounts. Payments can be made both online and in-store, and redemption is allowed on a wide range of jewellery. It is widely used during festive and wedding seasons as a practical gold monthly investment scheme.
What are the Benefits of Gold Schemes by Jewellers?
Gold Schemes by Jewellers in India offer unique benefits:
- You can pay a fixed amount every month, and the jeweller adds an extra instalment. At the scheme’s end, you can use the accumulated money to buy gold jewellery from the same jeweller.
- You can use your invested amount to buy gold coins, but cash redemption is not an option under this scheme.
- Some jewellers offer discounts on making charges, wastage, or even a complete waiver as part of their gold-saving schemes.
Which are the Best Gold Schemes by Banks in 2026
In India, banks such as State Bank of India, Punjab National Bank, and Bank of Baroda provide regulated gold schemes in India that suit investors seeking safety, liquidity, and long term value.
Check out the list of the top 10 private banks in India!
Comparison of Gold Schemes by Banks
| Scheme | Tenure | Minimum Deposit | Key Benefit | Redemption |
| SBI Revamped Gold Deposit Scheme (STBD) | 1 to 3 years | 10 grams (approx ₹80,000+) | 0.5 to 0.6 percent annual interest | Gold or cash |
| Sovereign Gold Bonds | 8 years (exit after 5 years) | 1 gram (approx ₹7,500+) | 2.5 percent annual interest plus gold appreciation | Cash at maturity |
| Gold Monetisation Scheme (STBD) | 1 to 3 years | 10 grams | 0.5 to 1 percent interest | Gold or cash |
| PNB Gold Deposit | Varies | Physical gold | Interest paid in cash or gold | Gold or interest |
An Overview of Top Gold Schemes by Banks
- Revamped Gold Deposit Scheme (RGDS)
The Revamped Gold Deposit Scheme allows individuals to deposit idle physical gold with banks for short-term tenures of 1 to 3 years. This gold investment scheme accepts a minimum of 10 grams with required purity and pays interest of around 0.5 to 0.6 percent per year.
Interest can be received in cash or gold, and redemption is available in gold or its cash equivalent. Following RBI changes in March 2025, longer tenure options were discontinued, making this suitable mainly for those holding unused physical gold.
- Sovereign Gold Bonds
Sovereign Gold Bonds are government-backed gold investment schemes issued through the Reserve Bank of India. These bonds track the market price of gold and offer 2.5 percent annual interest on the invested amount.
The tenure is eight years with an exit option after five years, and capital gains are tax-free at maturity. Among gold schemes by banks, this is often considered the most efficient option for long-term investors who want gold exposure without storage risks.
- Gold Monetisation Scheme
The gold monetisation scheme enables individuals to deposit physical gold with banks for one to three years and earn modest interest. This gold investment scheme removes storage and security concerns while allowing redemption in gold or cash.
Since 2025, only short-term deposits are available under this scheme, with assaying charges usually payable by the depositor.
- Other Bank-Linked Gold Options
Banks also facilitate gold ETFs, gold mutual funds, and digital gold products that function as price-linked gold investment schemes. These options do not involve jewellery purchases and differ clearly from gold saving schemes offered by jewellers.
Physical gold vs gold ETFs – know which one to choose.
In cities such as Amritsar, branches of SBI and PNB support most gold schemes by banks, allowing investors to compare liquidity, tax treatment, and overall suitability.
What are the Benefits of Gold Schemes by Banks
- Earn interest on gold holdings through regulated bank gold schemes without selling your gold.
- Eliminate storage, theft, and purity risks associated with holding physical gold.
- Benefit from tax efficiency, including capital gains exemptions in specific schemes.
- Gain liquidity by using gold or gold-backed instruments as collateral for loans.
- Convert idle gold into a productive financial asset linked to gold price appreciation.
What Should You Choose: Jeweller Gold Schemes or Bank Gold Schemes
The choice between jeweller gold schemes and bank gold schemes depends on how you view gold in your financial life.
Jeweller gold savings schemes are suitable for those planning a specific jewellery purchase. They offer convenience, price averaging, and purchase-linked benefits such as making charge discounts. However, they are tied to a single brand, are unregulated, and do not offer financial returns beyond purchase incentives.
Bank gold schemes position gold as a financial asset rather than a consumption product. Options such as Sovereign Gold Bonds and gold deposit schemes are regulated, offer interest or tax benefits, and remove concerns around storage and purity. These schemes are better suited for long-term investors seeking gold exposure without buying physical jewellery.
Ultimately, jeweller schemes support tradition-driven purchases, while bank schemes align with structured wealth planning. The right choice depends on whether gold is being bought for wearing or for wealth preservation.
Gold Schemes in India: FAQs
Selecting the best gold-saving scheme depends on individual preferences. It mainly depends on whether you choose a scheme offered by jewellers or banks in India. You should consider factors like minimum contribution, scheme tenure, and the type of benefits offered before deciding.
The Government of India offers gold-saving schemes such as the Sovereign Gold Bond Scheme and the Gold Monetisation Scheme, which are regulated and focused on gold as an investment rather than jewellery purchase.
Gold savings involve saving money in gold through physical gold or gold-related instruments. It helps diversify portfolios, hedge against inflation, and preserve wealth for long-term goals.
Yes, some gold saving scheme offer tax benefits. For example, the Sovereign Gold Bond Scheme provides tax exemption on capital gains at maturity, and the Gold Monetisation Scheme also offers tax-related benefits as per prevailing rules.
Sovereign Gold Bonds are considered one of the popular long-term gold investment options in India, as they offer annual interest along with tax benefits when held until maturity.
Gold mutual funds and gold ETFs allow investors to gain exposure to gold prices without holding physical gold. Performance varies based on market conditions and fund structure, so outcomes depend on the chosen fund.
Disclaimer: Investments in the securities market are subject to market risks; read all the related documents carefully before investing.
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