Siddhi Jewellers Gold Scheme
Gold schemes, also known as gold investment schemes or gold saving schemes, are financial programs offered by Siddhi Jewellers to encourage customers to invest in gold. In a typical gold scheme, customers make regular payments towards the purchase of gold.
The accumulated amount can be used to buy gold jewelry or other gold products at the end of the scheme tenure. These schemes often offer additional benefits, such as discounts, bonus amounts, or waived making charges, to incentivize participation.
Here are a few common types of gold schemes:
- Fixed-Tenure Schemes: In this type of scheme, customers make fixed monthly payments for a predetermined period, typically ranging from 6 months to several years. At the end of the tenure, they can use the accumulated amount to buy gold at the prevailing market rate.
- Flexi Schemes: Flexi schemes allow customers to make flexible payments towards their gold investment. They can choose to deposit varying amounts depending on their financial capacity. The accumulated payments are utilized to purchase gold once the desired target is reached.
- Gold Accumulation Plans (GAP): Gold accumulation plans are offered by banks or financial institutions. Customers can deposit a fixed amount of money into their account each month, which is then used to buy gold on their behalf. This scheme provides convenience and the assurance of dealing with a regulated financial institution.
- Gold Deposit Schemes: Gold deposit schemes are offered by banks, where customers can deposit their physical gold in exchange for an interest-bearing gold deposit certificate. The deposited gold is securely stored by the bank, and customers can redeem the gold or its value at the end of the scheme.
- The minimum amount of monthly installment is ₹500 and above. You can select a higher amount for deposit. A passbook will be provided to keep you updated regarding all the transactions made.
- You are required to make 11 advance payments, over a period of 11 months.
- You have the option to select gold weight or value based option.
- In case there is no purchase made on the 12th month, the entire amount will be refunded to the customer.
- The minimum amount of monthly installment is ₹500 and above. You can select a higher amount for deposit. A passbook will be provided to keep you updated regarding all the transactions made.
- You are required to make 11 advance payments, over a period of 11 months.
- You have the option to select gold weight or value based option.
- In case there is no purchase made on the 12th month, the entire amount will be refunded to the customer.
Scheme Details
The member can select weight based option or value based option.
| Scheme Amount | Installments | Maturity Bonus | Payable Amount |
|---|---|---|---|
| Rs. 500/- | 15 Months | Rs. 750/- | Rs. 8,250/- |
| Rs.1,000/- | 15 Months | Rs. 1,500/- | Rs. 16,500/- |
| Rs. 2,000/- | 15 Months | Rs. 3,000/- | Rs. 33,000/- |
| Rs. 4,000/- | 15 Months | Rs. 6,000/- | Rs. 66,000/- |
| Rs. 8,000/- | 15 Months | Rs. 12,000/- | Rs. 1,32,000/- |
Features and Benefits of Siddhi Jeweller Gold Scheme
- The minimum amount of monthly installment is ₹500 and above. You can select a higher amount for deposit. A passbook will be provided to keep you updated regarding all the transactions made.
- You are required to make 11 advance payments, over a period of 11 months.
- You have the option to select gold weight or value based option.
- In case there is no purchase made on the 12th month, the entire amount will be refunded to the customer.
Terms and Conditions
- You are required to make the monthly installment before 10th of every month for a 15 month time period.
- The installment must be made only on the showroom where you have purchased the scheme. Redemption can be done across all showrooms.
- The installments are fixed and cannot be revised.
- Refund of cash is not applicable.
- If the wastage exceeds 18% in case of pure gold, the addition/difference will be borne by the customer.
- You can apply for a rate of gold prevalent on the date of redemption.
- You can redeem equivalent weight of gold credited to your account a month post the final installment.
- The terms and conditions can be altered/modified as per the discretion of Siddhi Jewellers.
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