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SAVING SCHEMES

SAVING SCHEMES

VBJ's Gold Savings Scheme is well received by domestic and international customers. saving gold by small investments every month helps fulfill needs of future.

Keeping this concept in mind, VBJ has introduced online Gold Savings Scheme for our esteemed customers in india and overseas.



CHOOSE FROM OUR BEST SAVING'S SCHEMES

HERITAGE SCHEME

-INVESTMENT PLAN 12 MONTHS & 15 MONTHS

  • Installment starts from Rs.2,500,Rs.5,000,Rs.10,000 & Installment upto Rs.25,000
  • Up to 15% discount on wastage on gold jewellery in 12 months scheme.
  • Up to 19% discount on wastage on gold jewellery in 15 months scheme, this means no wastage on almost all jewellery.
  • Diamond and platinum jewellery can also be bought.
  • Discount on diamonds below 30 cents carat price and platinum value.

GENERAL
INSTRUCTION

  • Anyone can join online and need not come to showroom in person.
  • Payment can be made online every month using credit/debit card or net banking or NEFT
  • Jewellery can be purchased online and offline.
  • Gold accumulation can be checked in website under "MY Account" after login.
  • Discount on diamonds below 30 cents carat price and platinum jewellery value.

Many members have joined already online and joined every month. Welcome you too. Avail this opportunity and benefit greatly.

HERITAGE SAVINGS CHEME

                  

TERMS AND CONDITIONS

 12 MONTHS

 

Redemption of this saving scheme can be done after 30 days of payment of last instalment.

Successful completion of 12 Months’ Payments will entitle the member to purchase gold jewellery, on

amount accumulated, without value addition up to a maximum of 15%.

If the value addition of selected jewellery exceeds 15%, the difference in value addition will be collected

from the member.

If the member prefers to purchase diamond jewellery on successful completion of 12 months, member

would be entitled to purchase for the value accumulated in the chit. The member will be eligible for a

discount of 12% on per carat price of a diamond below 0.30 carat, up to the redemption value.

The member will be eligible for a discount of 8% on per carat price of a diamond weighing 0.30 carat or

above, up to the redemption value.

If the member prefers to purchase diamond studded platinum jewellery, they will be eligible for a

discount of 12% on the value of platinum jewellery up to the redemption value.

If the member prefers to purchase plat

inum jewellery on successful completion of 12 months, the member

would be entitled to purchase for the value accumulated in the scheme. The member will be eligible for a

discount of 12% on the value of platinum jewellery, up to the redemption value. In the case of diamond

studded platinum jewellery, this offer is valid only for diamonds below 0.30 carat, up to the redemption

value.

If discontinued on or after 8th instalment, customers can avail up to 9% off on VA against redemption of

gold jewellery and 7% off on diamonds / platinum jewellery. There would not be any benefit in VA, if

discontinued on or before 7th instalment.

 

15 MONTHS

 

Redemption of this saving scheme can be done after 30 days of payment of last instalment.

Successful completion of 15 Months’ Payments will entitle the member to purchase gold jewellery, on

amount accumulated, without value addition up to a maximum of 19%.

If the value addition of jewellery selected exceeds 19%, the difference in value addition will be collected

from the member.

If the member prefers to purchase diamond jewellery on successful completion of 15 months, member

would be entitled to purchase for the value accumulated in the chit. The member will be eligible for a

discount of 15% on price per carat of a diamond below 0.30 carat, up to the redemption value.

The member will be eligible for a discount of 10% on per carat price of a diamond weighing 0.30 carat or

above, up to the redemption value.

If the member prefers to purchase diamond studded platinum jewellery, they will be eligible for a

discount of 15% on the value of platinum jewellery up to the redemption value.

If the member prefers to purchase platinum jewellery on successful completion of 15 months, member

would be entitled to purchase for the value accumulated in the chit. The member will be eligible for a

discount of 15% on the value of platinum jewellery, up to the redemption value. In the case of diamond

studded platinum jewellery, this offer is valid only for diamonds below 0.30 carat, up to the redemption

value.

If discontinued on or after 8th instalment, customers can avail up to 9% off on VA against redemption of

gold jewellery and 7% off on diamonds / platinum jewellery. If discontinued on or after 12th instalment,

customers can avail up to 15% off on VA against redemption of gold jewellery and 12% off on diamonds

/ platinum jewellery up to the redemption value. There would not be any benefit in VA, if discontinued on

or before 7th instalment.

Monthly instalment should be paid regularly on or before the 10th of every month.

Monthly instalment will be accepted at any VBJ Showroom as well as through our website

(www.vummidi.com). Members are entitled to redeem at any of the VBJ showrooms as Gold (jewellery

or coins), Diamond or platinum jewellery . Prepayment of installments and advancement of the maturity

date are not permitted. Payment made after 10th of a month will be considered as delay in payment and

will be adjusted as following month’s payment and hence the maturity date will be delayed by a month.

Membership card must be produced at the time of payment to enable the entry of the payment in the card.

The chit amount can be paid by cash, at par cheques / demand drafts or online payments. Member’s name

and Membership number should be clearly written in all modes of payment. Cheques / demand drafts

should be drawn in favour of “Vummidi Bangaru Jewellers”. Online payment details are available at the

counter. In case the cheque is dishonoured, the date of the realization will be considered as ‘date of

payment’. Delay in payments will automatically extend the maturity date by the number of months

delayed. Members are entitled to redeem the total value, credited to their account on maturity. Members

can use their registered login ID and password to make online payment.

Online payment should be made before 6 PM on the 10th of every month, payments received there after

will be accounted for next month. Cash will not be refunded under any circumstances. The stone charges,

making charges and GST will be borne by members as applicable at the time of purchase /redemption.

VBJ reserves rights to alter, amend, modify, add or delete any of the terms and conditions from time to

time. The right to enrolment will be at the discretion of the management. The conduct of the scheme is

subject to the terms and policies laid down by the central and/or state Government from time to time. All

disputes are subject to the jurisdiction of the competent court in Chennai .