VBJ KAMADHENU JEWELRY SAVINGS PLAN

ONE TIME SAVING PLAN:

• Redemption of this saving plan must be done after 330 days of payment.
• Chit starts from a minimum of ₹2 lakhs and in denominations of ₹50,000 thereafter. Invest once and get benefits of up to 20% off on VA on gold jewellery, 15% off on diamonds, and 7% off on solitaires.

Discontinuation Rules:

• If discontinued on or after 180 days, customers can still avail up to 10% off on VA against redemption for gold jewellery, 7.5% off on diamonds/precious stones/platinum jewellery, and 3.5% off on solitaire jewellery.
• There will not be any benefit in VA if discontinued on or before 180 days.
• Enrolment gifts must be returned if the chit is pre-closed on or before 180 days.

General Terms:

• Members are entitled to redeem their gold at any of the VBJ showrooms as gold (jewellery or coins), diamond, platinum jewellery, or solitaire jewellery.
• The membership card must be produced at the time of closure.
• The date of receipt of payment will be the date on which the gold rate will be applied.
• In case the cheque is dishonoured, the date of realisation will be considered for fixing the gold rate.
• Members are entitled to redeem the total weight of gold credited to their account on maturity.
• Cash will not be refunded under any circumstances.
• Stone charges, making charges, and GST/tax will be borne by members as applicable.
• VBJ reserves the right to alter, amend, modify, add, or delete any of the terms and conditions.
• The conduct of the plan is subject to government policies.
• All disputes are subject to the jurisdiction of Chennai courts.

Common T& C:

• Redemption of this saving scheme can be done 30 days after the payment of the last instalment.
• Monthly instalment will be accepted at any VBJ showroom.
• Monthly instalment should be paid regularly on or before 5 PM on the last day of every month.
• Only one entry per month.
• Prepayment of instalments and advancement of the maturity date are not permitted.
• Delay in payments will automatically extend the maturity date by the number of months delayed.
• Members are entitled to redeem their gold at any of the VBJ showrooms as gold (jewellery or coins), diamond or platinum jewellery.
• Members are entitled to redeem the total weight of the gold credited to their account on maturity.
• Members are entitled to apply the rate of gold prevailing on the date of their purchase / redemption.
• The gold rate as announced by Madras Jewellers & Diamond Merchants Association for selling of 22 Kt (916) will be applied for redemption value.
• The date of receipt of payment will be the date on which the gold rate will be applied.
• 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.
• Cheques/demand drafts should be drawn in favour of "Vummidi Bangaru Jewellers".
• In case the cheque is dishonoured, the date of realization will be considered for fixing the gold rate.
• Membership card must be produced at the time of payment for offline customers.
• Cash will not be refunded under any circumstance.
• The stone charges, making charges and GST/Tax will be borne by members at the time of purchase / redemption.
• VBJ reserves the rights to alter, amend, modify, add or delete any of the terms and conditions.
• The conduct of the scheme is subject to government policies.
• All disputes are subject to the jurisdiction of the competent court in Chennai.