Here’s a structured breakdown of Scheme

1. Monthly Installments

• Minimum installment: ₹1,000.

• Must be paid in multiples of ₹1,000.

• Duration: 11 consecutive months.

• Payment modes allowed: Cash, NEFT, RTGS, UPI, Demand Draft.

• Installments must be paid on or before the defined due date.

• Late payment penalty: 5% reduction in benefit for every 30 days delay.

• Missed or late payments affect the total benefit.

2. Eligibility / KYC

• Customer must provide the following at enrolment:

  • Aadhar Card

  • PAN Card

  • Government ID

  • Address Proof

  • Bank Passbook

• Third-party payments are not allowed.

• Payments and benefits are non-transferable.

3. Gold Purchase

• Only 22K916 Karat Gold jewelry can be purchased under this scheme.

• At maturity (12th month), GST and making charges apply based on:

  • Accumulated amount

  • Additional gold purchased

• The purchase invoice will be in the customer’s name only.

• Purchase at maturity must be equal to or more than the total deposited amount.

• If the customer doesn’t make a purchase:

  • Account closes on the 360th day from activation.

  • Deposited amount is credited without any benefit.

4. Terms & Conditions

• No refund of deposited installments.

• No other offers, discounts, or promotions apply.

• Any government taxes, cess, or changes at the time of purchase are borne by the customer.

• The scheme may be discontinued or modified by Swarnam Jewellers without prior notice.

• Swarnam Jewellers reserves the right to:

  • Accept or reject payments

  • Allow or prevent participation

• All grievances fall under Pune Court jurisdiction.

5. Timeline Example

• Plan starts: 1st April → 1st installment due.

• 2nd installment: 1st May → must be paid on/before 1st May.

• Continue until 11th installment (March next year).

• 12th month (April next year): Maturity → eligible for gold purchase.