GRT Savings Scheme

Let me get out of shock first, before I continue with this post. It was really surprising when I found that the GRT savings scheme is giving more money than any other Indian bank. The below chart is from GRT, where they agree to the amount mentioned in total column

When you compare the returns from an Recurring Deposit for 15months at 6.5% rate of interest compounded monthly, you get almost 4% less returns. This is really amazing to know, isnt it

Risk 1: Lets believe GRT does not cheat like other jewellery shop and chit funds

Risk 2: You can buy only Gold from them and not get cash back from GRT.

Risk 3: You buy gold at the price end of 15month.

Scheme for 15 Months	Total Amount	Cash incentive	Maturity Amount	GRT Returns Total	RD Returns for 15months @6.5%
(Rs.)	(Rs.)	(Rs.)	(Rs.)	(Rs.)	(Rs.)
500	7500	200	8000	8200	7833.36
1000	15000	400	16000	16400	15666.72
2000	30000	800	32000	32800	31333.45
5000	75000	2000	80000	82000	78333.62
10000	150000	4000	160000	160000	156667.24

So investors, think before you go for recurring deposit.