Each member shall pay Rs. 1000,Rs.2000, Rs. 3000, Rs. 5000, Rs.10.000 and Rs. 50.000/-
every month on or before 10th of the current month either by way of cash or by way of DD
/NEFT. Amount through cheque shall be payable on or before 5 th of each month. Every
person shall submit their ID Proof/Aadar Card/ Pan Card etc at the time of becoming
The monthly advance payments can be remitted by a member before 10th of every month
by cash in any one of our showrooms. We also accept DD's/ Local Cheques Debit cards and
/Credit cards. We accept post-dated cheques favouring 'SHREE SAI GOLD PALACE' for the
entire period for your convenience. Online payment and NEFT payment can also be made
and the receipt will be sent through mobile text. The details of these facilities will be
furnished to you at the time of opening of the account and on your request. You can also
close your account in anyone of our showrooms.
At the time of joining the scheme, each member will be provided with a pass book. Member
should ensure that all payments made by them are correctly entered in the pass book. Any
discrepancy in entries should be immediately brought to our notice and have them rectified.
In the event of loss of passbook, the same shall be informed by the member to the
management within 10 day from the day of loss and shall obtain a duplicate passbook from
the management on payment of Rs. 100/-.
Membership amount gets matured only at the end of the 13th month from the date of
commencement month. Membership is non-transferable and nominees can be appointed.
This scheme transaction will not be carried one week prior to AKSHYA TRITIYA DAY and on
the said day also.
Your monthly advance payment amount is fixed. The first monthly advance payment shall be
the same till the last month advance payment.
If the member fails to pay instalment continuously for a period of 3 months then such
member will lose their membership. Such member is not entitled to claim the amount
already paid, however the Gold credited to their account can be adjusted in their purchases.
These members are not entitled to any kind of benefits under this scheme.
In the event of dishonour of cheques, such member shall pay the instalment amount in cash
along with Rs. 250/- towards bouncing charges of cheque within 7 days from the date of
intimation to them from the management. On failure to pay, members are not entitled to
any benefits and shall purchase the golden jewellerys only at the end of 13 th month.
Cash will not be refunded under any circumstance.
In respect of member who discontinue in the middle of the period would be allowed to
purchase a gold jewellery for the paid up amount only.No benefits will be eligible for the
This scheme is unique and will not be linked to any other existing or future scheme/offers.
All disputes are subject to the jurisdiction of the competent civil courts @Bangalore.
At the time of closing, GST and other prevailing Government rules and levies on the date of
purchase will be applicable.
The members are entitled to redeem the accumulated advance amount by purchasing the
golden jewellery with No Additional Charges Except for some designs like Diamond,
Platinum, Uncut Diamonds, Oddyanam/ Vanki/nakas jewellerysimha kada, jomala Gundu
chain Pooja items and other Special items.
Shree sai gold palace reserves the right to discontinue Gold Purchase Advance Plan at any
time. In such an event of termination, the member can purchase golden ornaments for the
amount accumulated till the date.
The duration of the scheme payment shall be Twelve months only.
The Gold rate will be calculated and accordingly the actual weight of gold (22 Ct Gold 916) to
the ratio of monthly amount paid by the member will be calculated and the said weight of
Gold will be credited to their account instead of cash. If the payment is by way of cheque,
then with in five days from clearing date of the cheque, the same will be considered for
calculating the weight of gold which is to be credited.
Members are entitled to purchase Gold coins against the maturity amount by paying the
difference in the Gold rate compared to their credited Gold Rate.
The Terms & Conditions may change subject to the position of law and the decision of the
management is final.
The management of Shree sai gold palace Group will have sole discretion to update the
features and terms of this scheme, if needed.
This scheme is subject to income tax laws and warrants furnishing of PAN/TDS etc. in
Member shall surrender his/her pass book to the management to avail benefits at the end
of the scheme along with ID Proof.