Savings Plan Terms & Conditions
View plan-specific terms before enrollment. Select a plan to read full details.
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GOLDEN ELITE SAVER PLAN
50% off on wastage (VA) for accumulated gold weight
— Frequently Asked Questions (FAQ) —
Q: How to make the monthly advance payment?
A: Advance payment should reach Hassan Jewellers before the 14th of every month. Payment can be made by Cash or any of the online payment mode. (Bank charges to be borne by customers)*
Q: What if I want to discontinue in between?
A: If you choose to discontinue at any given month, you will not be eligible for any benefit or discount on wastage (VA) and can only redeem to extent of accumulated weight under the plan by paying 100% wastage (VA).
Q: What if I don't pay continuously?
A: The advance payment cannot be extended beyond the 15-month period. The plan will be discontinued as per terms mentioned below in the event of any default in the monthly advance payments. Hence it is essential that you pay the advance payments continuously without fail. In the event of defaulting an advance payment during the tenure, the plan will be discontinued automatically from that month, and you will not be entitled for 'No Wastage (VA)' as per terms mentioned.
Q: What if I buy jewellery exceeding my advance payment?
A: The wastage (VA) discount will be applicable only on the accumulated gold weight. Any additional weight purchased will be charged at regular wastage rates.
Q: Will the advance amount be refunded?
A: The advance amount accumulated will not be refunded under any circumstances, as per Government regulations.
Q: Can I buy diamond jewellery?
A: Yes, you can buy diamond. On completion, you'll be eligible for a discount of up to 100% off on Making charges on diamond jewellery*.
Q: Can I make all the monthly payments in advance?
A: The monthly payments cannot be carried over or paid in advance.
Q: Can I pay the monthly advance payment through online payment?
A: Yes, you can pay the monthly advance payment through any of the Online payment mode, However the bank charges if any is to be borne by customers.
Q: Can I buy Gold Coins?
A: Yes, you can purchase gold coins without wastage / making charges (VA).
Q: Is the monthly advance amount fixed or Variable?
A: The monthly advance payment amount is fixed.
Q: Can I buy silver jewellery?
A: No, Silver Jewellery cannot be bought in this Plan.
— Terms & Conditions —
- The monthly advance against purchase of jewellery must be equal and paid continuously for fifteen months, the advance payments cannot be extended beyond 15 months and is not transferable under any circumstances.
- On completion of 15 months from the date of enrolment, the customer will be eligible to purchase gold jewellery of their choice and get 50% Discount on Wastage / Making Charges under Golden Elite Saver Plan including gold coin limited to gold weight applicable for the accumulated weight. However, if the Customer wishes to purchase diamond jewellery, silver article or silver jewellery, the customer will be eligible for the benefit as listed in the FAQ.
- The monthly advance against purchase of jewellery must be paid within 14th of every month. The advance amount will not be eligible for any interest.
- If a customer chooses to discontinue the plan at any point during the 15-month tenure, they will not be eligible for any benefits or discounts on wastage (VA). Redemption will be allowed only up to the accumulated weight under the plan, and 100% wastage (VA) will be applicable at the time of purchase.
- In case of loss of customer receipt book, the customer should inform the company immediately and apply for new customer receipt book with KYC details.
- The customer must appoint a nominee along with submission of KYC details for both Self and the nominee.
- Guardian will sign and will also be the nominee in case of minors.
- Payments of monthly advance against purchase of jewellery beyond the stipulated period or payment for more than one month will not be allowed.
- Monthly Advance of any amount over and above Rs.17,000/- Per Month will not be accepted in cash and must be paid by way of UPI / Debit Cards / Credit Cards / NEFT / RTGS Cheques. As per government regulations, a customer cannot combine multiple accounts if those account are paid up by cash and the total of the combined accounts cash payments exceed Rs.1,99,000.
- The advance against purchase of jewellery is unique and will not be linked to any other existing or prevailing schemes/offers.
- Balance advance amount, if any, will not be refunded in cash and can only be adjusted on purchase of Gold/Silver coins.
- The customers will be eligible for 50% Discount on wastage (VA) on any jewellery for the weight accumulated under the plan, only after they have paid all the advance payments continuously. The customer will not be able to continue in the event of default in the monthly advance payments. Hence it is required that a customer pays the advance payments continuously without fail.
- Any bank charges to be borne by the customer only.
- GST & any other government levies at the time of delivery will be borne by the customer.
- The customer's signature will be verified and an OTP sent to the registered mobile number will be verified at the time of delivery.
- Company at its sole discretion can alter, amend, modify, add or delete any of the terms and condition from time to time.
- All disputes are subject to the Ambur jurisdiction only.