Gold Ornaments Purchase Advance Scheme (GOPAS)
Grammage Accumulation
A customer can select any Jewellery design of Her/His choice and place an order. Customer can pay the estimated order value in installments at regular monthly basis as per His/Her convenience. On or before the end of every month, as 11 Equated Monthly Advance (EMA).
Terms & Conditions
A. CA Waiver
On maturity, “ Gold Jewellery & Gold Coin” can be purchased in this scheme with a wavier of up to 18% VA (Value Addition) or on actuals, whichever is lower.
B. No. of Advance Payments
11 Equated Monthly advances.
C. Tenure
330 days.
D. Minimum Monthly Advance
Rs. 2000 per month and in multiples of Rs.1000,i.e., Rs.2000, Rs.3000
E. Gold Rate
1. The EMA paid by the customer will be converted from ‘amount’ to ‘gold weight’. The prevailing Gold Rate for the day will be applicable at the time of EMA payment.
2. When customers pay their EMA using Virtual Account, Cheque or any Online payment mode, prevailing gold rate at the time of payment realization in the company bank accounts, will be applicable.
F. Swarna Sakthi Order Redemption
At the end of the 330 days (i.e., joining date + 329 days) Example: A customer joins Swarna Sakthi on 15th January + 329 days I.e., 10th December of the same year will be the redemption date.
G. Maturity
Maturity is on completion of the 330 days and this tenure of 330 days cannot be extended under any circumstances.
H. Refund
Refund is not permitted in this plan under any circumstances as EMA is converted to gold weight at the time of payment itself.
I. GST & other Levies
GST & other Levies will be charged extra as per government norms.
J. Eligibility
Wavier of upto 18% VA will be given only if EMA payments are paid continuously without any default.
K. After-maturity Benefits
In case of default, eligible benefit will be based on the number of EMAs (complete minimum period of 90 days). Customer will get benefit of 1% VA for each EMA paid month. Customer can avail maximum of upto 10% on VA. Please refer to the table below.
| Maturity benefits | ||||
|---|---|---|---|---|
| Example | Scenario 1 | Scenario 2 | Scenario 3 | Scenario 4 |
| Scheme Value | 1,10,000 | 1,10,000 | 1,10,000 | 1,10,000 |
| EMA Value | 10,000 | 10,000 | 10,000 | 10,000 |
| No. of EMAs to be paid | 11 | 11 | 11 | 11 |
| No. of EMAs paid | 11 | 8 | 6 | 2 |
| Total Amount paid | 1,10,000 | 80,000 | 60,000 | 20,000 |
| Open Date | 01/04/2022 | 01/04/2022 | 01/04/2022 | 01/04/2022 |
| Closure Date | 24/02/2023 | 24/02/2023 | 24/02/2023 | 24/02/2023 |
| Days | 330 | 330 | 330 | 330 |
| Benefit (VA) | 18% | 8% | 6% | 0% |
| VA Benefit Maximum | 19,800 | 6,400 | 3,600 | 0 |
One -Time Lump-Sum Advance Plan (Tenure: 330 Days)
In this plan, Customers can order their choice of Jewellery by paying a one-time lump-sum as advance. After 330 days, the customer will receive Jewellery equivalent to His/Her ordered value.
Terms & Conditions
A. CA Waiver
On maturity , “Gold jewellery & Gold Coin” can be purchased in this scheme, with a waiver of up to 18% VA (Value Addition) or on actuals, whichever is lower.
B. Tenure & Maturity
330 Days.
C. Minimum Advance
A minimum amount of Rs.25,000/- is to be paid to enrol in the Swarna Sakthi Plan II.
D. Gold Rate
1. Gold Rate will be fixed at the time of enrollment as per the prevailing rate of the day. It cannot be changed later under any circumstances.
2. During any online payment / or cheque as payment mode, the prevailing Gold Rate at the time of payment realization in the company bank accounts, will be applicable.
E. Refund
On maturity , “Gold jewellery & Gold Coin” can be purchased in this scheme, with a waiver of up to 18% VA (Value Addition) or on actuals, whichever is lower.
F. GST and other Levies
GST and other Levies will be charged extra as per government norms.
G. Pre-closure
Benefit can be availed from the fourth month itself. On completion of 90 days, customer can get a benefit of 1% VA for each month completed. Customer can avail a maximum of up to 10% on VA. Please refer to the table below.
| Maturity benefits | |||||
|---|---|---|---|---|---|
| Example | Scenario 1 | Scenario 2 | Scenario 3 | Scenario 4 | Scenario 5 |
| Scheme Value | 1,00,000 | 1,00,000 | 1,00,000 | 1,00,000 | 1,10,000 |
| Open Date | 01/04/2022 | 01/04/2022 | 01/04/2022 | 01/04/2022 | 01/04/2022 |
| Closure Date | 24/02/2023 | 22/02/2023 | 27/11/2022 | 05/07/2022 | 20/06/2022 |
| Days | 330 | 328 | 241 | 96 | 81 |
| Benefit (VA) | 18% | 10% | 8% | 3% | 0% |
| VA Benefit Maximum | 18,000 | 10,000 | 8,000 | 3,000 | 0 |
Old Gold Advance Plan (Tenure: 330 days)
On starting of Swarna Sakthi Plan III, customers can give their Old Gold as advance and order their New Jewellery. The given old gold will be verified for its purity and converted to 916 weight. After 330 days, customer can buy Gold Jewellery against the converted 916 weights.
Terms & Conditions
A. The gold ornaments / coins / bars
The gold ornaments / coins / bars received from customers towards the order of making new jewellery under plan III will be melted and refined. Hence the same cannot be returned in its original form. The equivalent quantum of gold received and its 916 purity will be denoted in the voucher.
B. VA Waiver
On maturity, “Gold Jewellery & Gold Coin” can be purchased in this scheme with a waiver up to 18% VA (Value Addition) or on actuals, whichever is lower.
C. Tenure & Maturity
330 days.
D. Minimum Advance
Minimum quality of gold to be given is 8 grams, to join the Swarna Sakthi Plan III.
E. GST and other Levies
GST and other Levies will be charged extra as per government norms.
Pre-Closure Benefits & Terms for the Swarna Sakthi Plans (I, II & III)
A. Plan I
1. Plan 1: If the customer pays EMA continuously for 10 months but wants to pre-close it on completion of 300 days, they can avail a pre-closure benefit of 12% or actual VA, whichever is less.
B. Plan II & III
1. Benefit can be availed from the fourth month itself. On completion of 90 days, the customer can get a benefit of 1% for each month completed. Customer can avail a maximum of up to 10% on VA.
2. For example : If the Customer wants to buy after 6 months, they benefit by way of 1% x 6 = 6% VA waiver for the advance given in this scheme.
Non-Redemption on Maturity
If the customer does not purchase Jewellery at the end of 330 days from the date of enrollment and grace period of 10 days given by the company from the maturity of scheme, then the total advance amount will be invoiced with an equivalent weight of 22 karat gold coin as per the rate fixed by the customer without any benefit, (For example: a customer has given Rs.1,00,000 in the scheme and a Gold ate is fixed as Rs.4,500 per gram, then the refund will be in the form of 22.220 (approx.) grams of 22k gold coin).
General Terms
- Every Month’s advance amount should be paid on or before the end of the month in Plan I.
- In plan I, any excess advance amount will be adjusted for upcoming months.
- In Plan I, full benefits will be given only if EMA payments are paid continuously without any default.
- Waiver of VA is applicable only on Gold Jewellery and Gold Coin. Stone charges are applicable.
- No Customization Orders accepted/allowed for any Swarna Sakthi schemes. The customer can place the order from our Existing Design Bank only.
- No Partial purchase from the advance paid will be allowed.
- Refund will not be permitted under any circumstances for any of the Swarna Sakthi Plans.
- Collection of receipt from JewelOne for amount remitted is mandatory. Incase of payment made through Cheque/PDC/ECS/Virtual Account, receipt can be obtained after realisation in our account. EMA receipts will be sent through Mail / WhatsApp.
- Any promotional offers / existing discounts will not be clubbed with Swarna Sakthi redemption value.
- If the customer buys extra gold over and above the accumulated weight in Swarna Sakthi, actual VA is applicable for the extra weight. They can also avail prevailing offers at the time of purchase for the extra gold.
- Gold Coins can also be purchased under this scheme.
- Customers should produce their identity proof (preferably Aadhaar Card) and the bank account details with documentary proof, which is mandatory at the time of enrollment and redemption. The customer should also produce the original receipt during the clouser.
- If any assistance is needed in opting for Virtual Account Payment, Kindly contact your nearest JewelOne showroom (or) call toll free: 1800 1033 916.
- GST and other Levies will be charged extra as per government norms.
- All terms and conditions are subject to change in accordance with government policies / company policies with / without any prior notice.
- JewelOne reserves the right to retain / modify / withdraw any of the schemes at its sole discretion.
- Any dispute would be subject to Coimbatore Jurisdiction only.
One-Time Lump-Sum Advance Plan (Tenure: 330 Days)
To Join this plan, Customer will order Jewellery by paying in onetime lump-sum advance, (or) Old gold Jewellery, After 11 months ( 330 days ) customer will receive Jewellery equivalent to her / his ordered value With “0% VA”.
Terms & Conditions
VA Waiver
0% VA
Tenure & Maturity
330 days.
Minimum Advance Amount
Rs.16,50,000/-
Minimum Quantity of gold
250 gms.
The gold ornaments / coins / bars
The gold ornaments / coins / bars received from customers towards the order of making new Jewellery under Wedding Jewellery plan will be melted and refined, Hence the same cannot be returned in its original form. The equivalent quantum of gold received and its 916 purity is denoted in the voucher.
Customer can join in an advance
Customer can join in an advance amount & old gold jewellery worth the value of Rs.16,50,000.
Gold rate will be fixed
Gold Rate will be fixed at the time of enrollment as per the prevailing rate of the day. It cannot be changed later under any circumstances.
GST
GST will be charged extra as per government norms.
Pre-closure
Customer needs to complete minimum period of 3 month (90 days) to avail pre closure benefits maximum of up to 10 % on VA.
For Example
If the customer wants to buy within 6 months, they get benefit of 1%x6 = 6% waiver OFF on VA for the Advance given in this scheme. Please refer to the table below
| Maturity benefits | |||||
|---|---|---|---|---|---|
| Example | Scenario 1 | Scenario 2 | Scenario 3 | Scenario 4 | Scenario 5 |
| Scheme Value | 16,50,000 | 16,50,000 | 16,50,000 | 16,50,000 | 16,50,000 |
| Open Date | 01/07/2023 | 01/07/2023 | 01/07/2023 | 01/07/2023 | 01/07/2023 |
| Closure Date | 25/05/2024 | 23/05/2024 | 26/02/2024 | 04/10/2023 | 19/09/2023 |
| Days | 330 | 328 | 241 | 96 | 81 |
| Months | 11 | 10 | 8 | 3 | 2 |
| Benefit (VA) | NO VA | 10% | 8% | 3% | 0% |
| VA Benefit Maximum | NO VA | 1,65,000 | 1,32,000 | 49,500 | 0 |
Non-Redemption on Maturity
If the customer does not purchase Jewellery at the end of 330 days from the date of enrollment and grace period of 10 days given by the company from the maturity of scheme, then the total advance amount will be invoiced with an equivalent weight of 22 karat gold coin as per the rate fixed by the customer without any benefit, (For example: a customer has given Rs.1,00,000 in the scheme and a Gold ate is fixed as Rs.4,500 per gram, then the refund will be in the form of 22.220 (approx.) grams of 22k gold coin).
GST will be charged extra as per government norms.
General Terms
- The Swarna Sakthi Wedding Jewellery Plan “0% VA” Benefits can apply only for Gold Jewellery & Gold Coins. Not applicable for Diamond Jewellery, Platinum Jewellery and Silver Jewellery.
- No Customization Orders accepted/allowed for Swarna Sakthi wedding Jewellery Plan. The Customer can place the order from our Existing Design Bank.
- No Partial Withdrawal from the Advance paid will be allowed.
- No cash refund will be permitted for the Swarna Sakthi Wedding Jewellery Plan.
- Customers should produce their identity proof and the bank account details with documentary proof, which is mandatory at the time of enrollment and redemption. The customer should also produce the original receipt during the closure.
- Any promotional offers/existing discounts will not be clubbed with Swarna Sakthi redemption value.
- If the customer buys extra gold over and above the accumulated weight in Swarna sakthi, Actual VA is applicable for the extra weight. They can also avail prevailing offers at the time of purchase for the extra gold.
- GST will be charged extra as per government norms.
- Stone charges are as applicable. (Waiver of VA is applicable only on 916 Gold jewellery)
- If any assistance is needed in opting for NEFT/RTGS payment, kindly contact your nearest jewel one showroom (or) call Toll free : 1800 1033 916.
- Any dispute would be subject to Coimbatore jurisdiction only.