What is an Easy Payment Plan (EPP)?
Another way to buy gold from Public Gold is via Easy Payment Plan. In this article, we are going to dive into this method.
Imagine this: Now you are interested to buy gold, but the budget seems to be tight at the moment. Does that mean you drop the idea?
No, dear friends. Rather, we continue to lock in the price but choose the Easy Payment Plan option. Next, we select the available duration and make the first commission payment. Let's observe at how buying a 20g gold bar under EPP would look like:
The payment schedule generated by Public Gold based on current gold price.
From the image above, we can see that upon selecting Easy Payment Plan and the duration, the website would auto-calculate and inform us the monthly commitment. The first payment for this particular order is RM 564 while the remaining payments are fixed at RM 523. The first payment is slightly higher to cater for the premium involved for this gold item.
Further, we have to bear in mind that an additional premium is charged for taking up this EPP option (on top of gold premium of RM20). The charge for EPP premium is RM1 per gram. If the item is a 20g gold bar, then the additional premium is RM20. To me, this amount is much more affordable than to paying a lumpsum amount at one-go.
Now that we understand the charges involved for this purchase, all we have to do is to make the payment on respective months. Similar to Outright Purchase, we can then opt for Gold-In-Transit (GIT) service for the delivery service using courier postage (which is covered with insurance).
This method has shown to be useful to people who wish to lock in price when the price has touched the 'support' level (based on technical analysis) but the payment would be in smaller portions. I personally like this method becuase it forces us to save money whenever we make the payment. While we establish this habit, we eventually get the gold items as described.
To my Singaporean friends, we could also make use of this feature and continue making payment as per the schedule. Upon completing the payment, we can arrange for collection from the nearest branch which is located at Taman Molek, Johor Bahru. The Public Gold staffs would be happy to help us out in this regard.
Apart from Easy Payment Plan, there are two other ways to buy gold Public Gold, which are as follow:
Outright Purchase: What is Outright Purchase?
Gold Accumulation Program: What is Gold Accumulation Program?
Naresh, I need more information. How do I go about it ya?
Kindly consider joining my Telegram channel for further info, where I share my knowledge from my mentor, Tuan Mohd Zulkifli Shafie. Joining the channel is free - click the following link: https://t.me/diversifywithgold
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When you are with Public Gold, we take good care of you!
Talk to you soon!
Your Gold Mentor,
Naresh G