Each installment amount will be credited as monetary value in your account. Upon scheme maturity, you may purchase jewellery equivalent to the amount saved, based on the prevailing 22KT gold price on the day of redemption.
| Installment No. | Amount in Instalment | Gold Rate | Amount Accumulated |
|---|---|---|---|
| 1 | 5000 | 7500 | 5000 |
| 2 | 5000 | 7500 | 10000 |
| 3 | 5000 | 7600 | 15000 |
| 4 | 5000 | 7600 | 20000 |
| 5 | 5000 | 7700 | 25000 |
| 6 | 5000 | 7800 | 30000 |
| 7 | 5000 | 7900 | 35000 |
| 8 | 5000 | 7700 | 40000 |
| 9 | 5000 | 7600 | 45000 |
| 10 | 5000 | 7800 | 50000 |
| 11 | 5000 | 7900 | 55000 |
| Total Amount Accumulated | ₹55,000 | ||
Benefits
Joining Gift: Joining Gift for all customers enrolling in the scheme.
On Completion of 11 Months
Customers can redeem their accumulated value for Gold, Diamond, or Silver purchases with the following applicable benefits:
1. Gold Jewellery (916)
- 100% Off on Wastage Charges (up to 18%)
- 100% Off on Making Charges
2. Gold Coins/Bars (916)
- 100% Off on Dye Charges
3. Diamond Jewellery
- 75% Off on Wastage Charges (up to 18%)
- 10% Discount per Carat
- 10% Discount on Making Charges
4. Silver Articles & Jewellery
- Your total savings will be converted to silver weight based on the silver rate on the day of redemption.
- Non-MRP Silver Articles: 100% Off on Wastage & Making Charges
- Non-MRP Silver Special / Antique Articles: 50% Off on Wastage & Making Charges
- Sterling Silver 925 (MRP Jewellery): Flat 20% Off on MRP
- MRP Gift Frames & Articles: *No discounts applicable*
Note: If you opt to purchase MRP/Fixed-rate silver products, the scheme amount will be treated as monetary value and not converted to silver weight.*
| Gold Purchase & Wastage Details | |
|---|---|
| Accumulated Amount | ₹55,000 |
| Gold Rate on Purchase Date | ₹9,775/g |
| Weight Conversion (₹55,000 ÷ ₹9,775) |
5.63 g |
| Product Wastage | 25% |
| Discount on Wastage (Up to 18%) | 100% |
| Wastage Discount Applicable Only Up To | 18% |
| Excess Wastage Charged (25% - 18%) |
7% |
| Customer Pays Wastage | 7% on 5.63g = 0.39g |
Terms and Conditions
1. A duly filled application form with valid ID proof (Aadhaar or PAN) and the first installment is required for enrollment.
2. Customers can contribute a fixed amount monthly for a minimum of 11 months, up to a maximum of 15 months. Installments can be paid on any convenient date each month.
3. Regular, consecutive payments are mandatory. A delay exceeding 60 days will cancel the plan. Accumulated funds can still be used for purchases, but benefits will be forfeited.
4. Scheme benefits are not applicable to customised orders. Additional charges may apply.
5. Stone cost, hallmarking, certification, and customisation charges are to be borne by the customer.
6. Redemption with full benefits is available only after 30 days from the date of the final installment.
7. Advance payments are allowed but will be recorded from the 1st of the next month(s).
8. Advance payments do not earn interest.
9. Customers must present their receipt book during redemption.
10. Any change of address or loss of the receipt book must be immediately reported for duplicate issuance with valid KYC.
11. Nominee option is available. If the nominee is under 18, guardian details must be provided.
12. Lost passbooks must be reported to the showroom immediately.
13. KYC and mobile number confirmation will be completed at maturity.
14. Signature verification is required during redemption.
15. The management reserves the right to amend, suspend, or cancel the scheme at its discretion. Jurisdiction: Chennai.
16. Making charges are based on the rate at the time of redemption.
17. Gold weight fluctuations due to price changes will not be adjusted. Amounts are treated as monetary value.
18. SR Jewellery is not liable for market fluctuations in gold prices.
19. If the scheme is discontinued after 90 days, customers may redeem the saved amount as jewellery without benefits. The minimum lock-in period is 90 days.
20. If the scheme is discontinued before full installment completion, the value of the joining gift (if any) will be deducted at redemption.
21. Redemption can be made only from in-stock jewellery. Custom orders are not eligible for scheme benefits.
22. No refunds. Redemption is allowed only as gold, diamond, or silver jewellery.
23. Applicable GST must be paid by the customer at redemption.
24. Stone setting, hallmarking, and any other specific product charges are not covered and must be paid separately.
25. Redemption is available only at SR Jewellery branches, with a redemption request form and valid ID (Aadhaar or PAN).
26. The scheme is non-transferable. Redemption can only be done by the registered customer. In case of death, the nominee may redeem with a valid death certificate issued by the Tamil Nadu Government.
27. Installments may be paid at any SR Jewellery / SR Jewelfactory branch, or via the official app or website (www.srjewellery.in). Always collect a physical receipt and verify SMS confirmation.
28. If the value of selected jewellery exceeds the eligible amount, the excess weight’s making charges, wastage, and GST must be paid. Scheme benefits do not apply to this excess.
29. Scheme benefits cannot be combined with other ongoing offers or promotions.
30. No changes will be allowed to the name, mobile number, or address once registered. OTP to the registered number is mandatory during redemption.
31. Cash payments must be made in person at the branch. Do not hand over cash to any third party or staff. The company is not liable for such transactions.
32. You may begin saving with a minimum contribution of ₹1,000, and in multiples thereof (e.g., ₹1,000, ₹2,000, ₹5,000, ₹10,000, ₹25,000, ₹50,000, ₹1,00,000).
33. Note: Scheme benefits are not applicable for 24KT Gold coins/bars.
