The pursuit of higher returns, as the stock market tanks, has investors searching different other investment options outside the conventional bank deposits. One such avenue that has caught the interest of several investors in recent times, especially in the tier-II towns of the South, is the fixed deposits offered by big jewelry chains.
These jewelry chains, mostly in Tamil Nadu and Kerala, have been catching the attention of depositors from smaller investors at interest rates that are 3-5% over bank fixed deposits.
While dozens of cash-hungry companies, especially real estate, have also been offering competitive rates for deposits, investors are cautious of putting money in many of them, as they lack confidence about the safety of these deposits. But these big jewelers, though unregulated, have been able to draw investors to them because of the higher trust in them.
“People perceive investments in deposits of jewelers as ‘safe’ because there is gold involved. Also, this business is all about ‘trust’. While manufacturing companies have defaulted in the past, you would not hear of any defaults from a jeweler,” said a manager at a Kochi-based jewelry chain, which accepts these deposits. There has been no dearth of demand for such deposits because of the amount of unaccounted money present in the system, partly driven by the real estate boom across the country.
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I am owner of a 80.000sqm prime beach property in the south of Mahe`, Seychelles and search for an private Investor to built some holiday chalets, which are already aproved.
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