Announcement

Collapse
No announcement yet.

Kothari deposit scheme

Collapse
X
Collapse

Kothari deposit scheme

Last updated: November 3 2010
8 | Posts
1676 | Views
  • Time
  • Show
Clear All
new posts

  • Kothari deposit scheme

    Hi Friends,
    I am posting one different topic on this forum. I heard about "Kothari G O L D deposit scheme" from Radio. Just want to know about pros and cons of this scheme? How does this scheme work?
    Last edited by punehome1234; July 22 2010, 04:15 PM. Reason: Updating content
  • #2

    #2

    Re : Kothari deposit scheme

    One should never "lend" goold , if time arises - it is the only instrument which can give you instant cash -- lend anything BUT NOT goold.

    Comment

    • #3

      #3

      Re : Kothari deposit scheme

      Why to lend the goold ? And why not sell it at the present rate ?
      Then you can repurchase with the EMI you are supposed t ogive it to Kothari.
      You can get extra goold of the amount of INTEREST ( 14&#37 you are supposed to pay to Kothari.

      Pcpune, what is your opinion?
      Last edited by HemantDesh; July 22 2010, 06:43 PM.

      Comment

      • #4

        #4

        Re : Kothari deposit scheme

        I dont think selling goold is a good option for ANYTHING, if you fear safety - please use a bank locker.
        If you are under serious need of money, sell everything else...which is of no use to you or a LUXURY ...BUT NOT .

        Comment

        • #5

          #5

          Re : Kothari deposit scheme

          Originally posted by pcpune View Post
          I dont think selling goold is a good option for ANYTHING, if you fear safety - please use a bank locker.
          If you are under serious need of money, sell everything else...which is of no use to you or a LUXURY ...BUT NOT .
          Well, one is taking loan against goold then he is in need of money. He has two choice
          1) Take loan against and pay interest of 14% ti Mr. Kothari .
          2) Sell goold to fulfill his money need today and buy back the goold in installment ( with same money which he will pay as installment ( pinc+int) for loan).

          Comment

          • #6

            #6

            Re : Kothari deposit scheme

            Agreed

            I too agree with Hemant.At current levels you can sell the goold and avoid the interest and buy it again with every EMI you saved.But sometimes it don't happen somehow you fail to buy back , you keep avoiding and try to repay your loan with that.So technically it can be better but practically would recommend not to sell goold as its value is far more than converted paper value in case of emergency.

            Comment

            • #7

              #7

              Re : Kothari deposit scheme

              I think OP is referring to the GLD Deposit scheme, where one keeps gld with them and they give you interest every month. They apparently use it for "business purposes".. wonder what those are ??

              Comment

              • #8

                #8

                Re : Kothari deposit scheme

                I would never lend go_ld even if somebody gives me 15-20% PA. Its the classic "savkar trap" scenario-- the would never come back to you...me being a marwadi knows what the "savkar" is trying to do....

                If one is in so much need of money, I think one can get a personal loan at 15% PA -- either by salary slips, or mortaging house/go_ld, any other bonds/shares etc.

                Comment

                • #9

                  #9

                  Re : Kothari deposit scheme

                  Originally posted by pcpune View Post
                  I dont think selling goold is a good option for ANYTHING, if you fear safety - please use a bank locker.
                  If you are under serious need of money, sell everything else...which is of no use to you or a LUXURY ...BUT NOT .
                  i understand not selling g_old if you have something other to sell in distress... but basically what good is an investment if you are not willing to sell it when you need money?

                  many of our elder generation people have sold their G_old to purchase houses, fund education of kids, hospitalization etc... i think this is pretty understandable...

                  Comment

                  Have any questions or thoughts about this?
                  Working...
                  X