Malabar Gold EMI Scheme 2023 | Features | Payment | Terms and Conditions

malabar gold scheme

Malabar Gold & Diamonds Scheme


Malabar Gold & Diamonds(MGD), is one of the largest gold and diamond retail chains in India.
MGD today has outlets spread across 10 countries, more than 13 wholesale units in addition to offices, design centres and factories spread across India, the Middle East, the Far East and the US.
The MGD company is popular for giving customers the best in jewellery when it comes to quality and design.
The MGD has introduced the Golden Gain Plan also known as the Malabar Gold EMI Scheme 2023, which helps customers to plan the jewelry purchase in advance and purchase the ornaments through EMI without paying any kind of making charges of 12% of eligible gold weight.

The primary agenda of these schemes is to make purchasing gold simpler and more affordable.
Here is all you need to know about Malabar Gold EMI Scheme.

Note: There may be changes in the schemes, hence confirm with the retailers before you save through them.

Helpline Numbers


Toll-Free Number:1800 5720 916
Email Id:

Should You Buy Malabar Gold Scheme?


With gold prices remaining high and showing some signs of coming down, MGD offers monthly gold schemes through which people can set aside amounts for buying jewellery.
If you are planning to buy jewellery for your daughter’s wedding, or for gifting, it makes sense to opt for such a gold EMI scheme because Gold purchases are a key chunk of wedding expenses.

However, those who are wanting to invest in gold to benefit from the expected price rise should go for Gold ETFs or Sovereign gold bonds(SGBs) as they are more cost-effective.
Gold ETFs or SGB also offer more flexibility as one can invest any amount. Apart from that, one gets direct exposure to gold, without any making charges etc.

Read Sovereign Gold Bond SBI | How to Buy SGB Online? 

Malabar Gold EMI Scheme


The Malabar Gold EMI Scheme from MGD is a great way to save while you’re looking to purchase jewellery in instalments.
The minimum monthly advance money is fixed as Rs 1,000 per month.
The fixed money needs to be paid on the due date of every month for 11 months.

You will be eligible to buy jewellery from the end of the 11th month at the prevailing gold rate without paying a value addition (making charges) of 12% except for special ornaments.
The advantage of making charges is limited to the money accumulated only.
In case making the charge of jewellery selected is higher than 12% then the difference will be collected.
The stone charges if applicable and taxes on the jewellery are charged separately.
Equated monthly instalments (EMIs) can be worth any amount between Rs 1000 to Rs 40000 depending on the jewellery chosen at the beginning of the plan.

Let’s take an example, You have opted to pay a fixed monthly advance amount of Rs 2000 a month, for the next 11 months.
At the end of the 11th month, MGD will have your advance Amt of Rs 22,000 and you will be eligible to buy gold worth Rs 22,000 online.


Scheme NameGolden Gain or Malabar Gold EMI Scheme
Minimum Investment1000/-
Maximum Investment40000/-
Tenure11 Months

Malabar Gold Scheme Payment


Time needed: 5 minutes

Follow the steps given below for payment through the Malabar website.

  1. Visit the website

    Visit  site and click on “Gold Purchase Advance System“.

  2. Sign Up

    On the Next screen, click on the “New To Makabar Services? Sign Up Now” option(New subscriber-only).

  3. Mandatory fields

    Fill in the mandatory fields such as Name Mobile Number, etc. and click on create an account.

  4. Email Confirmation

    The system will send an email with a confirmation link to your email address.
    In order to complete the sign-up process, Kindly click the confirmation link.
    If you do not receive a confirmation email, Kindly check your spam folder. Also, verify that you entered a valid email address in our sign-up form.

  5. Login

    In the next step, Login using your MGD credential.
    Click on the Registration tab and Fill in the mandatory fields such as Application ID, Type of Scheme, etc. and then click on “Verify Your Plan“.

  6. Payment

    Go to the “My Plan” tab and then click on agree and pay to move to the payment page.

  7. Receipt

    In the next step, Make the payment digitally by selecting the convenient mode of payment. Customers will get a copy of the advance receipt via email.

Malabar Gold Scheme Terms and Conditions

  • The subscriber can use the same money the buy jewellery only from the same jeweller.
    This amount does not transfer from one jeweller to another.
  • The subscriber cannot get any refund or voucher for the cash amount that he has invested.
  • The Invested amount can be used for purchasing gold & diamond jewellery only, not even silver, gold coins or gold bars.
  • A subscriber can be eligible for a discount amount only when he/she has paid all the instalments.
    In case of discontinuation in between, no discount amount will be paid to the investor by the jeweller.
  • Changes in government tax rules will be applied correspondingly.
  • Making charges will be calculated based on the billing day’s gold rate.
  • The jewellery under this scheme will be subject to making charges and all applicable government taxes.

Source – Malabar Gold