Jewels PIP Terms & Conditions
- This scheme is an advance payment plan for jewellery purchase only and shall not be treated as an investment, savings, or deposit scheme.
- Scheme Tenure: 6 Months Plan — 180 Days; 12 Months Plan — 364 Days
- VA Benefit: 6 Months Plan — Eligible for VA reduction up to 25% (subject to scheme terms); 12 Months Plan — Eligible for VA reduction up to 50% (subject to scheme terms)
- Scheme benefits are applicable only on jewellery products with VA 12% and above. Coins, bars, bullion, and low VA products are not eligible.
- The amount paid at enrollment will be converted into equivalent gold weight based on the gold rate prevailing on the enrollment date. The calculated weight will be treated as customer entitlement under the scheme.
- Jewellery billing will be calculated based on the prevailing gold rate and VA charges applicable on the redemption/billing date.
- Scheme benefits shall be applicable only on the weight/value enrolled under the scheme. Any additional purchase beyond the enrolled weight/value will attract VA charges as per prevailing rates.
- Scheme benefits will not be applicable if jewellery purchase is made before completion of 150 days for 6 Months Plan and 330 days for 12 Months Plan.
- Scheme benefits are valid only if redemption is completed within the scheme validity period, failing which scheme benefits shall lapse.
- Payments above ₹1,99,999 shall be accepted only through approved banking modes as per applicable Income Tax and statutory regulations.
- Old gold accepted under the scheme will be valued as per company standard valuation process and shall become company property upon adjustment. Old gold once adjusted cannot be returned.
- Scheme benefits cannot be combined with any other promotional offer unless officially approved by the company.
- KYC documentation is mandatory for enrollment and redemption.
- No gifts, interest, bonus, or assured returns are applicable under this scheme.
- Jewellery purchase is subject to product availability. Order jewellery delivery timelines will depend on the manufacturing schedule and company billing policies.
- Gold prices and VA charges are subject to market fluctuations, and customers acknowledge the associated market risks.
- Company reserves the right to modify, suspend, or withdraw the scheme at its discretion without prior notice.
- All taxes shall be applicable as per Government rules prevailing at the time of billing.
- Any disputes arising out of this scheme shall be subject to Puttur jurisdiction only.
