1. Enrollment & Monthly Installments
- Flexible plans: ₹500, ₹1,000, ₹2,000, ₹5,000 and ₹10,000 per month.
- Both schemes run for a fixed period of 11 months.
- Only one installment accepted per month. Payments must be made on or before the 18th of every month.
- Accepted modes: Cash, UPI or Bank Transfer.
2. Weight-Lock Advantage
- Every installment is immediately converted into gold or silver weight at the prevailing board rate on the date of payment.
- Swarna Vriddhi credits are maintained in Gold Weight (Grams).
- Velli Vriddhi credits are maintained in Silver Weight (Grams).
3. Wastage (VA) Benefits
- Swarna Vriddhi: Up to 14% VA benefit — no wastage charges on jewellery up to 14%. If wastage exceeds 14%, customer pays only the difference. Stone charges & GST applicable.
- Velli Vriddhi: Zero wastage on all silver articles. Stone charges & GST applicable.
- Benefit available only to customers who complete all 11 installments.
4. Maturity & Redemption
- Jewellery, articles or coins can be purchased 15 days after the final (11th) installment.
- Purchase must be completed within 12 months from enrollment. Benefits expire after this period.
- After expiry, final value calculated at metal rate on the actual day of purchase.
- Redemption restricted to the Mylapore branch where scheme was enrolled.
5. Defaults & Incomplete Schemes
- Incomplete schemes (fewer than 11 payments) do not qualify for Weight-Lock or Zero Wastage benefits.
- Customer can only purchase items equivalent to the actual cash credited, with standard wastage charges.
- No cash refunds under any circumstances. Balance must be redeemed for Gold or Silver only.
6. KYC & Documentation
- Aadhaar Card mandatory at enrollment and must be presented at final purchase.
- PAN Card required for enrollment and for any final purchase exceeding ₹2,00,000.
- Original membership card/passbook must be produced and surrendered at maturity. Duplicates not issued.
- Changes in address or loss of passbook must be reported immediately to the store.
7. Legal & Statutory
- GST and all applicable government taxes charged at the time of final billing.
- Acharya Jewellers reserves the right to amend, alter or change scheme rules at any time.
- All disputes subject to Chennai jurisdiction only.
