Gold Saving Scheme
Enroll Now in our exclusive Jewellery Purchase Plans and avail exciting and assured benefits.
GOLD SCHEME PLAN
Duration Period:
11 months, Fixed and saving scheme, payment for a minimum of Rs. 5,000/- (Rupees Five thousand) or above (in multiples of one thousand) thereof for 11 months. The weight of 22 Karat gold equivalent to the value of the installment will be credited to your “GOLD SCHEME PLAN ” plan account for the amount paid month on month as per the prevailing rate on the day of payment received by VK MANI VILAS. an individual can make monthly contributions in our plans as follows. Under “GOLD SCHEME PLAN” plan, the member can purchase 22 Karat Gold Jewellery at the end of the 11th month with a benefit (accumulated weight of Gold) for which the customer can avail a flat 50% off on Value addition/Making charge.
Advantage:
At the end of 11 months, on the accumulated weight of Gold, avail flat 50% off on value addition/Making charge on your choice of 22 Karat BIS Hallmarked Gold Jewellery.
Redemption:
This plan shields your money from gold price fluctuations. Each month, your installment accumulates 22 Karat Gold. After 11 months, you can buy any 22 Karat BIS Hallmarked gold jewellery with a flat 50% discount on value addition / making charges.
Gold Saving Scheme FAQs
What is the term duration of Gold Saving Scheme?
VK Mani Vilas Gold Saving Scheme offers a Plan with the term duration of 11 (eleven) months.
How much do I pay monthly?
Customer can choose a minimum amount of 5000 & above in multiple of thousands into 11 (eleven) fixed/ monthly installment
How do I pay the monthly installment & what mode of payment options is available?
It is advisable to make the monthly installment payments on or before 10th of every month. Payments can be made by Cash/Debit Cards/Credit Cards/Net Banking/UPI.
Will GST be applicable?
Yes, GST will be applicable at the time when the customer redeems the advance amount aggregate and purchase from VK Mani Vilas.
What if I missed out paying the monthly installment payment?
Monthly installment payment beyond the stipulated period and payment for more than one month will not be allowed. The plan will be discontinued if in case advance payment for consecutive 3 (three) months is not paid.
What if I buy for the amount exceeding to the advance payment upon maturity?
Customer will enjoy the full benefit for the aggregate value/Gold weight accumulated according to the chosen plan. For the extra purchase made, regular charges will be applicable however, our customer can avail the seasonal offer benefits if any for the extra purchase made or get the best deal applicable on the day of purchase.
Ex: The accumulated weight 12.86 grams, selected Jewellery weight is 20.52 grams,
Then the member will be eligible for flat 50% off on VA/Making Charge for 12.86 grams only and the balance weight of 7.66 full Making charges to be paid by the Customer.
What if I do not redeem the whole amount accumulated?
Partial redemption is not allowed and refund in any case will not be applicable.
What time after maturity should I purchase?
Customer has to redeem the advance payment within the end of 11th month in Gold Saving Plan and after the 30th day from the 11th month advance payment done.
Can my family member or a friend redeem the advance payment of my behalf?
The applicant is the authorized person to redeem, however the customer may authorize any family member or a friend by submitting an hand written authorization letter will the details of person who would redeem the advance payment.
What happens if I do not redeem within the given time?
In case if the member does not redeem the scheme within the stipulated time, we shall refund the aggregate amount to the member’s bank account.
Is pan card mandatory to enroll for the plan?
Yes.
Will I get a receipt if I make online payment?
Customer can provide the payment details to any of the listed VK Mani Vilas branch and collect the payment receipt.
How can I track the term of the plan paid or view the payment details of monthly advance paid?
Download and register to VK Mani Vilas Saving Scheme app or login to vkmanivilas.com
Can I enroll to any plan in my child’s name who is a minor?
Yes you may enroll for VK Mani Vilas Gold Saving Scheme in a minors name however providing parent/guardian’s name shall be mandatory and the person authorized to redeem upon maturity shall only be the parent/guardian.
Can I club this plan along with VK Mani Vilas seasonal offer and redeem?
VK Mani Vilas Gold Saving Scheme cannot be clubbed with any of the seasonal/anniversary offers announced by VK Mani Vilas. However you may only get either of the benefit not both.
Can I buy Gold coins?
Member can only buy 22KT gold jewellery and silver jewellery/arcticles.
Will I get a membership card?
Yes, once you enroll for Gold Saving Scheme from VK Mani Vilas will issue a membership card and monthly passbook.
Saving Scheme Terms & Conditions
- Members can purchase Gold or Silver Jewellery (Except bullion, gold/silver coins) within 12 months after completion of the plan period without any default delay in the monthly payment.
- No discounts will be allowed on pre-closure of the plan by the members, and they will be allowed to purchase gold jewellery only for the amount they have paid.
- No cash refund will be made under any circumstances.
- The 1st Installment shall be paid along with a completely filled application form. Subsequent Installments can be paid in CASH / CROSSED CHEQUES / CREDIT/DEBIT Cards in favor of VK Mani Vilas
- Post-dated cheques shall be accepted. Out-station cheques will not be accepted. Service charges (as applicable) may be levied on all dishonored cheques.
- In case of default of payment by the customer, he/she will not be entitled to a discount.
- The maturity date will be 30 days from the date of payments (in our account) of the last advance payments. Customers are advised to redeem the plan amount within 3 days of the date of maturity.
- Monthly advance shall be paid before the 10th of every month, failing which it will be credited for the subsequent month.
- Rate / Value addition / Wastage / Making charges / Stone charges and tax surcharges will be levied as applicable at the time of sale.
- Customer should carry their passbook to the showroom every time they pay their advance and get the same updated. The customer should also request the receipt for the same.
- NJPL reserves the right to issue a duplicate passbook in the event of loss of the original passbook. Duplicate passbook shall be issued only if the customer provides an Indemnity letter / Identity proof along with all the receipts issued to him/her.
- The above plan is valid for 11 months and shall be terminated at the end of the 12th month irrespective of the number of installments paid by the customer. If the customer fails to pay by 11 months, he or she shall be entitled to a discount on the final sale bills. Depending on the number of installments paid by him or her. For example, if a customer starts the plan on 1st January, the above plan terminates on 31st December. If the customer happens to pay 8 months instead of 11 months, the discount amount shall be calculated as follows: 5000 × 8/11 & 2000 × 8/11.
- Customers shall provide a copy of valid photo identity proof such as Driver’s Licence, Passport, Ration Card, Election Card, or PAN Card for authentication at the time of redemption.
- NJPL reserves the right to alter, amend, add, or delete part or the whole of the privileges of the plan without prior notice to the customer.
- Any conditions which are especially not covered along would be at the sole discretion of the Company at the time of the transaction. The decision of the Company in this regard would be deemed as irrevocable and final.
- In case of any changes in existing laws, rules, acts, etc., by any regulatory authority, necessary requirements as per the same have to be complied with by the customers.
- Customers are requested to adjust the Savings plan amount from the same branch of enrollment. Customers have to make sure that the advances are adjusted within 12 months from the date of enrollment, i.e., they have to purchase within 12 months of the date of enrollment.
- All disputes, If any shall be subject to Bengaluru Court’s Jurisdiction.