Writing this blog for those MIG/ LIG group who considers Gold as an investment rather than luxury, please refrain from buying gold from ANY Tanishq outlet. As they will not tell you anything about their refund policy. I learnt a bitter lesson from Tanishq Hyderabad, at a time when we were in need of money we approached Tanishq with gold ornaments that were brought from them, and came to know the HARD and HIDDEN fact that you cannot sell gold in Tanish and get cash on the same day( that too 97% and not 100%), you will have to wait for 7 working days upon which an account payee cheque will be send from their head office to the branch, which you have to follow up and collect( as its your money, they are not bothered as you are selling and not BUYING!), which when submitted will again be send over for collection and after a delay of 2 days( outsation cheque) will get deposited. Tanishq will not refund more than 20K/day.
So imagine you have a chain or bangle or earring or ring that is more than 8 gms as per today’s rate you cannot get money from Tanishq, and if you approach any other jeweler as the gold does not belong to them you will loose more money. So Gold from Tanishq is not an investment, but if you are the Upper class and Gold from Tanishq is a status symbol then please go ahead, but for people like me it is useless as Tanishq Gold wont come in handy on emergencies.
Regards,
Taxpayer,
Hyderabad