Terms & Conditions – Swarn Akshay Monthly Gold Scheme

1. Introduction

The Swarn Akshay Monthly Gold Scheme (“Scheme”) is offered by Keshavji Chhaganlal Jewellers Pvt. Ltd. (“KCJPL”) to enable customers to purchase jewellery through fixed monthly advance payments and enjoy eligible benefits under the scheme.

By enrolling in this Scheme, the customer agrees to abide by all the terms and conditions mentioned below.

2. Eligibility

  • The Scheme is open to individuals above 18 years of age only.
  • Enrolment may be done through the showroom or authorized digital platforms/applications.
  • Firms, HUFs, trusts, companies, or institutions are not eligible unless specifically approved by KCJPL.

3. KYC Requirements

  • Valid KYC documents are mandatory at the time of enrolment.
  • PAN Card may be required for transactions exceeding the applicable statutory limits.
  • For digital transactions, additional verification such as OTP/mobile verification may be required.
  • KCJPL reserves the right to verify customer identity at any stage.

4. Monthly Installment & Tenure

  • Customers must pay fixed monthly installments as selected during enrolment.
  • Minimum installment amount shall be determined by KCJPL.
  • The installment amount once selected cannot be changed during the tenure of the Scheme.
  • Only one installment per month is permitted.
  • Advance payment of all installments together may not qualify for all scheme benefits.

5. Gold Rate Advantage

  • Monthly installments are recorded against the prevailing 22KT gold rate on the date of payment.
  • The equivalent notional gold weight is accumulated for benefit calculation purposes.
  • Gold rate benefits are market-linked and may vary depending on prevailing gold prices.
  • KCJPL does not guarantee appreciation in gold value.

6. Assured Discount Benefit

  • Eligible customers may receive assured discounts on maturity as per the applicable Scheme plan.
  • Discount eligibility depends on timely payment of installments and completion of the required tenure.
  • Discounts may vary based on the selected plan and maturity period.

7. Payment Modes

Customers may make payments through:

  • Cash (subject to statutory limits)
  • UPI
  • Debit/Credit Cards
  • NEFT/RTGS
  • ECS/Auto Debit
  • Online payment gateway or mobile app

Any applicable bank charges, gateway fees, or convenience fees shall be borne by the customer.

8. Payment Due Date

  • Installments must be paid on or before the due date every month.
  • A grace period may be provided as per company policy.
  • Delayed payments may affect maturity benefits or discounts.

9. Default & Termination

  • Non-payment or repeated defaults may result in termination of the Scheme.
  • In such cases, customers may only be entitled to the principal amount paid, subject to company policy.
  • No discount or special benefit shall be applicable in case of premature closure/default.

10. Maturity & Redemption

  • On maturity, the customer must redeem the Scheme by purchasing jewellery from KCJPL.
  • Redemption is allowed only against Gold, Diamond, Platinum, or eligible jewellery products available at the showroom.
  • Gold coins, bars, or cash redemption may not be permitted unless specifically allowed.
  • Redemption must be completed within the prescribed validity period after maturity.

11. Applicable Charges

  • Making charges, wastage charges, GST, and other applicable taxes shall be charged additionally at the prevailing rates during purchase/redemption.
  • Benefits under the Scheme are applicable only on eligible products and values as decided by KCJPL.

12. Refund Policy

  • No cash refund shall be provided against installments, benefits, or discounts under normal circumstances.
  • Amounts paid under the Scheme are non-transferable and non-refundable except as required by law.

13. Transfer & Nomination

  • The Scheme account is non-transferable.
  • Customers may nominate a family member/legal heir at the time of enrolment.
  • In case of the customer’s demise, transfer/redemption shall be subject to submission of valid legal documents.

14. Fraud Prevention & Verification

KCJPL reserves the right to:

  • Verify customer identity and payment details
  • Reject suspicious transactions
  • Suspend or terminate accounts involved in fraud, misrepresentation, or misuse

15. Force Majeure

KCJPL shall not be held responsible for delays, interruptions, or inability to fulfill obligations due to events beyond reasonable control, including:

  • Natural disasters
  • Government restrictions
  • Technical failures
  • Market disruptions
  • Pandemic situations

16. Changes to the Scheme

KCJPL reserves the right to:

  • Modify, amend, suspend, or discontinue the Scheme
  • Change benefits, eligibility, or tenure
  • Update terms and conditions without prior notice

Such changes shall become effective immediately upon publication on the website or showroom notice.

17. Limitation of Liability

KCJPL’s liability under the Scheme shall be limited only to the amount paid by the customer along with eligible benefits as applicable under the Scheme.

18. Governing Law & Jurisdiction

  • All disputes shall be subject to the jurisdiction of the courts located in Jamshedpur, Jharkhand.
  • The decision of KCJPL management regarding interpretation of Scheme rules shall be final and binding.

19. Acceptance of Terms

By enrolling in the Scheme, the customer confirms that:

  • They have read and understood all terms and conditions
  • They agree to comply with all Scheme rules
  • All information provided by them is accurate and valid