TERMS & CONDITIONS

12 MONTHS

• Redemption of this saving scheme can be done after 30 days of payment of last installment.
• Successful completion of 12 months’ payments will entitle the member to purchase 916 gold jewellery equivalent to the weight accumulated in their account with zero wastage, zero making on 916 gold jewellery.
• Members are entitled to redeem their gold in the form of gold coins, plain gold, Ethnic, Bridal, Synthetic, Ruby, Emerald or diamond jewellery.
• In case the selected jewellery weighs more than the weight accumulated in the scheme, the difference in weight will be valued at the prevailing rate as on the date of redemption plus the value addition that is applicable will be collected from the member.
• If the member prefers to purchase diamond or precious stone jewellery on successful completion of 12 months, member would be entitled to purchase for the value of gold accumulated in the chit, @ 50% discount on making charge/wastage. The rate on the date of redemption shall apply.
• Monthly installment should be paid regularly on or before the 7th of every month.
• Cash will not be refunded under any circumstances.
• If the member prefers to purchase diamond studded jewellery, they will be eligible for a discount of 40% on branded showroom MRP. This offer is valid only for diamonds below 0.30 carat, up to the redemption value.
• There would not be any benefit in VA, if discontinued on or before 11th installment.