Pure Gold Coins, Gold Loans and Investment with ICICI Bank

Published: 25th May 2011
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Gold has been traditionally the popular investment for Indians. India is amongst the largest buyers of Gold in the world. ICICI Bank with its ‘Pure Gold’ offer attempts to bridge the gap between the need of the customers for buying gold and availability of an organized avenue to satisfy that need, by taking care of the two key components – Reliability and Convenience. A gift of gold is a privilege reserved for the valued few. There is no other gift in the Indian context, which would make the recipient feel more important, than the expression of love, respect and piousness - Gold.

Gold across cultures has been a symbol of purity, hence the saying - 'heart of Gold'. But how many of us have pondered on the purity that Gold symbolizes. Is the gift of gold that we make to our important relations really pure? You will be surprised, more often than not the answer would be - No! The truth is that in the absence of an organized Gold market and standards, we are not getting value for money. We are actually paying more money for the gold we are buying, as the purity of gold professed by the seller is in question.

Gold lending is a globally popular mechanism under which a bullion consumer such as a jeweler, instead of borrowing money, buying gold and then repaying the loan after release of money from the jewellery sales, may choose to borrow the gold, convert it to jewellery, recover the sales proceeds and settle the gold loan. The holding cost for the jeweler through the loan route typically results in a much lower cost as against the money-borrowing route. This is because of the very low interest rate at which gold can be borrowed from the international market.

ICICI Bank is amongst the first banks in the country to have started selling gold through its branches. The selling of gold is done in 2.5 g, 5g, 8g, 20g and 50g gold coins that are imported from Switzerland. ICICI gold coins come with an ‘ASSAY Certification’, indicating the highest quality of gold at 99.99% purity. The coins are available to our customers in tamper proof packaging. These coins are readily available at ICICI Bank branches* and ICICI Bank Net Banking. You can also contact our 24 hour Customer Care Centre.

Gold makes a great gift idea for valued relationships. And when you talk about important relationships you should not settle for anything but the best. Gift your important relationships ‘ICICI Bank Pure Gold’ as a manifestation of your commitment to the relationship and its quality.

ICICI Gold Investment is one of the best investment schemes offered by the bank to potential investors in the Indian market. Gold is considered as one of the most favorable form of investments by most of the Indians. Even today, India is one of the leading consumers of gold across the world. Because of the unorganized nature of the gold market in the country, a large number of potential buyers face key issues relating to reliability and convenience while making their purchase. ICICI Bank introduces its "Pure Gold" as an attempt to fulfill the needs of gold buyers by providing an organized avenue that brings reliability and convenience on the part of the customers.

ICICI Bank Limited is India's largest private sector bank and the second largest bank in the country, with consolidated total assets of over $115 billion at December 31, 2010. ICICI Gold coins & investment with icicibank & for more information about other services please visit: www.icicibank.com


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