Plan Comparison (Based on ₹10,000/- monthly deposit)
| Particulars | Bullion | Gold / Silver Jewellery / Articles | Diamond Jewellery |
|---|---|---|---|
| Monthly Deposit Amount | ₹10,000/- | ₹10,000/- | ₹10,000/- |
| Deposit Period | 10 Months | 10 Months | 10 Months |
| Total Accumulated Amount at Maturity | ₹1,000,000/- | ₹1,000,000/- | ₹1,000,000/- |
| Bonus Amount | ₹6,000/- | ₹9,000/- | ₹10,000/- |
| Jewellery Purchase Value in the 11th Month | ₹1,06,000/- | ₹1,09,000/- | ₹1,10,000/- |
Terms and Conditions of the Suvarnalabh Yojana (Gold Benefit Scheme)
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- You can deposit a monthly amount of ₹10,000/- or multiples of ₹1,000/- with us. Under this scheme, deposits must be made for 10 consecutive months. In the 11th month, without depositing any further money, you can purchase jewellery as per the examples below, including our bonus.
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- Example: Depositing ₹10,000/- monthly for 10 months accumulates ₹1,00,000/-. In the 11th month, without depositing any extra money, you can buy Valhe/Bullion/Coins worth ₹1,06,000/-.
- Example: Depositing ₹10,000/- monthly for 10 months accumulates ₹1,00,000/-. In the 11th month, without depositing any extra money, you can buy Gold Jewellery worth ₹1,09,000/-.
- Example: Depositing ₹10,000/- monthly for 10 months accumulates ₹1,00,000/-. In the 11th month, without depositing any extra money, you can buy Diamond Jewellery worth ₹1,10,000/-.
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- Monthly deposits will be accepted only in Cash, Cheque, or via Debit Card.
- A receipt will be issued immediately upon payment of the monthly instalment. No transaction will be acknowledged without a valid receipt. Customers must preserve all receipts safely until the final purchase.
- The fixed monthly deposit amount must be paid continuously for 10 months by the 15th of every month.
- Gold prices will be charged based on the prevailing market rate on the day of the jewellery purchase. Making charges will be applied separately as per the rates active at that time.
- If the fixed monthly installments are not paid continuously, the company will not add any bonus to the 11th-month purchase value.
- The money deposited by the customer under this monthly scheme cannot be transferred to any other person’s name.
- If a customer wishes to close the monthly deposit scheme midway or is forced to stop due to unavoidable circumstances, they will be allowed to purchase jewellery equivalent only to the total amount they have deposited after the completion of 11 months from their start date. No bonus will be added by the company in such cases.
- The amount deposited by the customer for purchases will not be refunded in cash under any circumstances. Additionally, if a customer fails to purchase within the stipulated maturity period, they can only buy jewellery equivalent to the exact amount they deposited.
- Mahendra Jewellers retains absolute rights regarding the acceptance or rejection of any customer request.
- Cheques deposited under this scheme will be considered valid only after verification and confirmation of clearance by our bank (Mahendra Jewellers).
- The Suvarnalabh Yojana cannot be merged or combined with any other scheme. Furthermore, no existing discounts or promotional offers associated with the Suvarnalabh Yojana will be applicable.
- Mahendra Jewellers reserves the exclusive right to alter, modify, or cancel any of the terms, rules, and provisions mentioned above, or to introduce new rules without any prior notice.
- While making the final purchase at the end of 11 months, G.S.T. or any other applicable government taxes must be paid separately by the customer.
- Any new taxes, rules, or cess levied by the Central Government, State Government, or Kolhapur Municipal Corporation during the scheme period will be the sole liability of the customer.
- It is mandatory to bring all deposit receipts and the Advance Card when purchasing items.
- Providing a PAN Card, Aadhaar Card, and a passport-size photo is mandatory when enrolling in the Suvarnalabh Yojana and when purchasing jewellery using the accumulated scheme funds.
- The responsibility for any loss or misplacement of the passbook or receipts lies entirely with the customer. Mahendra Jewellers will not be held liable for any misuse arising from such negligence.
- You can deposit a monthly amount of ₹10,000/- or multiples of ₹1,000/- with us. Under this scheme, deposits must be made for 10 consecutive months. In the 11th month, without depositing any further money, you can purchase jewellery as per the examples below, including our bonus.
Subject to Kolhapur Jurisdiction
For MAHENDRA JEWELLERS