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The duration of GCP plan is minimum 12 months. It can be extended up to 18 months as per the customer's convenience. In GCP scheme, the minimum amount that can be deposited every month is Rs 1,000 or in multiples of Rs 1,000. The customer can deposit money more than once in a month, the weight of gold will be recorded in the passbook based on the rate as per the date of deposit. The customer also gets 5% interest annually on the deposited amount.
The duration of GSP scheme is 18 months. In GSP scheme, the amount of money (minimum Rs 1000) the customer will deposit in the first month. The same amount will be payable to the customer every 17 months. The 18th month installment in GSP scheme will be paid through ASB scheme. Under the GSP scheme, interest on the money deposited by the customer will also be given to the customer i.e. it will be added to the jewelery at the time of taking the jewellery.
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