1. Customers can get No Wastage (VA)* (up to 18%) only if payments are made every month without default.
2. In case of default, VA benefits will be decreased.
3. Maturity is on completion of 11 months.
4. The purchase plan cannot be extended under any circumstances.
5. Customers can buy jewellery only after completing 11 months.
6. No prevailing offers/discounts are applicable while purchasing jewellery under this purchase plan.
7. If the jewellery weighs over and above the accumulated weight, VA will be charged for the excess quantity. If the VA of the selected jewellery is over and above 18% wastage (VA), the excess VA will be charged.
8. Gold coins can be purchased under this scheme.
9. No cash refund will be permitted under any circumstances.
10. EMAs must be paid before the 10th of every month.
11. Collect the receipt for the amount remitted from Pothys Swarna Mahal. It is mandatory.
12. In case the payment was made through Cheque/PDC/UPI (GPay, PhonePe, etc.), the receipt can be obtained via WhatsApp or email.
13. Benefits under the scheme can be availed only if regular monthly payments are made.
14. Partial withdrawal from the advance paid will not be allowed.
15. GST charges are levied as per Government norms.
16. As per Government regulations, a customer cannot combine multiple accounts if those accounts are paid by cash and the total cash payment exceeds ₹1,99,000.
17. Produce proof of identity and bank passbook at the time of joining and redemption.
18. On completion of eleven months from the date of enrollment, the customer will be eligible to purchase the selected gold jewellery with No Wastage (VA) on any jewellery with wastage (VA) up to 18% under the New Swarna Subhiksham Plan, including gold coins and all special items such as antique, precious, bridal jewellery, and pooja items, limited to the accumulated gold weight. However, if the customer wishes to purchase diamond jewellery, platinum jewellery, silver articles, or silver jewellery, the customer will be eligible for the benefits as listed in the benefits table.
19. Customers who choose to pre-close within 5 months of enrollment will not be eligible for any benefits.
20. Customers who opt for a passbook must bring it every month while paying the advance amount, and it should be surrendered at the time of jewellery purchase.
21. In case of a change in address or loss of the customer receipt book, the customer should inform the company immediately and apply for a new customer receipt book with KYC details.
22. Payment of the monthly advance against the jewellery purchase plan beyond the stipulated period will not be allowed.
23. The customer will be eligible for No Wastage (VA) on any jewellery with wastage (VA) up to 18% only after making all advance payments continuously. In the event of default in the monthly advance payment, the customer will not be able to continue under the scheme. Therefore, customers are requested to make the advance payments continuously without fail.
24. Customer advance amounts will be refunded to their respective bank account if jewellery is not purchased within 345 days from the date of enrollment.
25. When the customer purchases jewellery in excess of the accumulated gold weight, the applicable wastage (VA) for the excess weight will be borne by the customer.
26. Stone charges are applicable.
27. No interest is applicable for any advance paid.
28. The customer's signature will be verified at the time of delivery.
29. The company, at its sole discretion, can alter, amend, modify, add, or delete any or all of the terms and conditions from time to time.
30. Customisation of jewellery is not allowed under this scheme. Customers can choose only from the available merchandise at the time of purchase.
31. Any dispute will be subject to the jurisdiction of the Chennai High Court only.
