NDB raththaran savings

troy · 1 NDB raththaran savings Thu Apr 18, 2013 4:21 pm

troy

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Have u guys noticed this product? U can buy gold in future at today's price. Check it and see whether its the most relevant product at current times. Hope this is going to be a hit.

Slstock · 2 Re: NDB raththaran savings Thu Apr 18, 2013 4:36 pm

Slstock

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If someone can get more details it would be good.

troy · 3 Re: NDB raththaran savings Thu Apr 18, 2013 4:37 pm

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Check with NDB web.

Slstock · 4 Re: NDB raththaran savings Thu Apr 18, 2013 4:43 pm

Slstock

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Checked already. Finer details about the conditions not there.

@troy wrote:Check with NDB web.

balapas · 5 Re: NDB raththaran savings Thu Apr 18, 2013 4:53 pm

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Seylan bank had something like this in 2008 or so but they closed the Gold accounts right? may be due to the issues they had and the drastic increase in Gold prices. Hopefully NDB will not do what Seylan did if they see it as a loss.

WildBear · 6 Re: NDB raththaran savings Thu Apr 18, 2013 5:29 pm

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I inquired about this couple of months back, The business model is we can buy a Gold at today's price and we have to pay a one off fixed commission of the Gold value (15% at that time) This total amount to be paid at 12,18 or 24 monthly installments, at the end of the period you will own the gold coins

I think this is perfect hedge at the moment. If market interest rate goes down, I guess the 15 % commission too might ease a little bit in coming months . Share your views

Slstock · 7 Re: NDB raththaran savings Thu Apr 18, 2013 5:35 pm

Slstock

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thanks.
Hmm, interesting concept.

@WildBear wrote:I inquired about this couple of months back, The business model is we can buy a Gold at today's price and we have to pay a one off fixed commission of the Gold value (15% at that time) This total amount to be paid at 12,18 or 24 monthly installments, at the end of the period you will own the gold coins

I think this is perfect hedge at the moment. If market interest rate goes down, I guess the 15 % commission too might ease a little bit in coming months . Share your views

cse.investor · 8 Re: NDB raththaran savings Thu Apr 18, 2013 5:50 pm

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the premium or the commission is the killer. But need to see even though the international gold prices come down a lot does it effect the retail prices ?. it has been around the same for a while now.

WildBear · 9 Re: NDB raththaran savings Thu Apr 18, 2013 5:59 pm

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@cse.investor wrote:the premium or the commission is the killer. But need to see even though the international gold prices come down a lot does it effect the retail prices ?. it has been around the same for a while now.

Premium is justified as we do not pay the total amount upfront, we can pay in installments, up to 2 years, This similar to an interest

Chinwi · 10 Re: NDB raththaran savings Thu Apr 18, 2013 6:28 pm

Chinwi

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There are many schemes like this, worldwide.
Actually I believe they do not buy and hold the metal physically for us when we pay.
They do buying and selling virtually at the prevailing rates.
Most of the customers do not take the risk of removing Gold to their own custody. They monitor customers request for actual gold and keep enough metal with them to give when you ask.
They face no problem when you want to sell because someone will buy without touching the metal at the prevailing price.

Somehow , you can argue, to earn money we do not need to touch what we buy. - If the custodian is a reliable institution.-

There was a nice letter reproduced in this forum 2-3 days ago explaining this done in universal level.

summa · 11 Re: NDB raththaran savings Thu Apr 18, 2013 6:33 pm

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Dear Friends,

How to find Gold Price changes in Sri Lanka?

sriranga · 12 Re: NDB raththaran savings Thu Apr 18, 2013 6:36 pm

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@summa wrote:Dear Friends,

How to find Gold Price changes in Sri Lanka?

http://www.goldpricerate.com/english/gold-price-in-sri_lanka.php

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NDB raththaran savings

1 NDB raththaran savings Thu Apr 18, 2013 4:21 pm

troy

2 Re: NDB raththaran savings Thu Apr 18, 2013 4:36 pm

Slstock

3 Re: NDB raththaran savings Thu Apr 18, 2013 4:37 pm

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4 Re: NDB raththaran savings Thu Apr 18, 2013 4:43 pm

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5 Re: NDB raththaran savings Thu Apr 18, 2013 4:53 pm

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6 Re: NDB raththaran savings Thu Apr 18, 2013 5:29 pm

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7 Re: NDB raththaran savings Thu Apr 18, 2013 5:35 pm

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12 Re: NDB raththaran savings Thu Apr 18, 2013 6:36 pm

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