STM GOLD NEST(DIGI GOLD)

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Our STM Jewellers offers the GOLD NEST scheme to its customers through the STM JEWELLERS app. The user agrees to the terms and conditions for the scheme are as below and those included in the terms of use of the mobile application

1.Eligibility

To be eligible to join the scheme, you must fulfil the following criteria

  • i. you must be an Indian citizen with a valid Permanent Account Number (PAN) issued by the Income Tax Department of India.
  • ii. you must be at least 18 years of age
  • iii. you must have a valid and active bank account with recognised bank in India

2.Joining scheme

  • i.The user can join Gold nest scheme only through the STM Jewellers app
  • ii.The user must enter all the KYC details required in a format and confirm that the name registered in the app has a valid ID proof for the purpose of authentication at the time of redemption or purchase
  • iii.The can join the scheme only after the user has paid their first payment through the scheme

3.Duration

i. The duration of the gold nest scheme in 330 days from the date of the first payment made through the scheme. During this period the users can pay any number of times. The scheme will mature on the 330th day from the date of enrolment

4.Benefits of our scheme

i. The users will be eligible for benefits based on the slab based benefit system as taken from the date of joining

Slab based benefits

The scheme period is divided into 5 terms

  • . 5.5% for first term of 60 days (from 1st to 60th day )
  • . 4 %. for second term of 60 days (from 61st to 120th day )
  • . 2.5 % for third term of 60 days (from 121st to 180th day )
  • . 1 % for fourth term of 60 days (from 181st to 240th day)
  • . 0.25 % for fifth term of 60 days (from 241st to 300th day )
  • ii. No benefits will be added during the final 30 days of the scheme period
  • iii. Benefits are credited as gold weight to users wallet on the date of each payment
  • Iv. User will be able to buy jewellery with benefits only if the user redeems their account after maturity, otherwise the user will not be eligible to claim the benefits gold weight

5. Redemption

  • i. User can redeem their saved gold as ornaments at the store
  • ii. There is a minimum lock-in period of 45 days during which users cannot redeem their savings
  • iii. Redemption request can be initiated only by visiting our store to buy jewels
  • iv. User must pay for any charges and wastage if applicable
  • v. Users are solely responsible for any taxes or duties that may be applicable on the purchase or redemption of gold through the application
  • vi. Only the person whose name that was used at the time of registration can redeem the scheme. They must submit original identification proof such as Aadhar, PAN, driving license ore voter id at the time of redemption
  • vii. The user must redeem their scheme within 40 days from the date of maturity. Failure to do so will result in the scheme being terminated, and the saved gold weight will not be available for redemption.
  • viii. If the saved gold is not redeemed within 365 days from the date of first investment STM Jewellers will refund the amount paid by the user through online bank transactions or cheque to the registered address of the user. No cash refunds will be allowed
  • ix. For transaction over Rs. 1.75 lakhs, users will be required to submit their PAN as per the prevailing income tax regulations. A PAN copy will also be required at the time of redemption for investments over Rs. 2 lakhs.
  • x. STM Jewellers reserves the right to modify or amend the redemption terms and condition at any time without prior notice
  • xi. Customers are required to redeem their gold nest scheme before it crosses 365 days from the date of joining as per government norms

6. Disputes

In the event of any dispute, difference, or claim arising out of or in connection with these terms and conditions, such dispute shall be resolved exclusively through arbitration in accordance with the provisions of the Arbitration and Conciliation Act, 1996. The arbitration shall be conducted by an arbitrator or panel of arbitrators appointed in accordance with the rules of the Chamber Arbitration Tribunal (ChaAT), or any other recognized arbitration authority in Nagercoil/ Kanyakumari District.
The decision (arbitral award) given by the arbitrator(s) shall be final and binding on both parties. The arbitration proceedings may be conducted in Tamil, English, or both, as deemed appropriate. The venue of arbitration shall be Nagercoil, Tamil Nadu.

📌 – Terms & Conditions

These Terms & Conditions (“Terms”) govern the use of the STM Jewellers mobile application and services. By registering and using this application, you agree to comply with and be bound by these Terms.

1. Account Registration
  • 1.1. To register on the STM Jewellers application, the user must be at least 18 years of age and legally competent to enter into a contract under the Indian Contract Act, 1872.
  • 1.2. During registration, users must provide accurate personal details including full name, residential address, date of birth, mobile number, email address, and any other information required by STM Jewellers.
  • 1.3. Users agree to provide true, accurate, and complete information at the time of registration and update the same if any changes occur.
  • 1.4. STM Jewellers reserves the right to verify user information and may request additional documents such as PAN card, Aadhaar card, or proof of address.
  • 1.5. Each user is responsible for maintaining the confidentiality of their login credentials. Accounts are non-transferable and cannot be shared with others.
  • 1.6. STM Jewellers reserves the right to accept or reject any registration application without providing reasons.
2.Privacy & Data Protection
  • 2.1. STM Jewellers is committed to protecting your privacy. All personal information collected will be stored and processed in accordance with applicable laws. 2.2. Information may be used for:
  • • Identity verification,
  • • Facilitating transactions and services,
  • • Communicating offers, updates, and notifications,
  • • Compliance with legal and regulatory requirements.
  • 2.3. STM Jewellers will not sell or share personal data with third parties except when required by law or for safeguarding the company’s rights.
  • 2.4. Reasonable security measures, including encryption and restricted access controls, will be applied to protect your data.
3.Usage Restrictions
By using the STM Jewellers app, users agree not to:
  • 3.1. Use the app for unlawful, fraudulent, or commercial activities.
  • 3.2. Provide false or misleading information.
  • 3.3. Share login credentials or allow others to use their account.
  • 3.4. Hack, disrupt, reverse-engineer, or misuse the app.
  • 3.5. Engage in money laundering or activities prohibited under the Income Tax Act, 1961 or the Prevention of Money Laundering Act, 2002.
  • 3.6. Upload or transmit harmful or offensive content. STM Jewellers reserves the right to suspend or terminate accounts for violations.
4. Taxes & Compliance
  • 4.1. Users are solely responsible for payment of any taxes, duties, or charges applicable on the purchase or redemption of gold through the app.
  • 4.2. For transactions over ₹1.75 lakhs, users must provide their PAN details as per Income Tax rules.
  • 4.3. For redemption of investments above ₹2 lakhs, users must also submit a copy of their PAN card.
  • 4.4. Cash payments above ₹2 lakhs are strictly prohibited under Section 269ST of the Income Tax Act
5. Disputes
  • 5.1 In case of any dispute, difference, or claim arising from these Terms, the matter shall be resolved by arbitration in accordance with the Arbitration and Conciliation Act, 1996.
  • 5.2 The arbitration shall be conducted by an arbitrator appointed under the rules of the Chamber Arbitration Tribunal (ChaAT), or another recognized arbitration authority in Nagercoil/ Kanyakumari District.
  • 5.3. The arbitral award shall be final and binding on both parties.
  • 5.4. Proceedings may be conducted in Tamil, English, or both.
  • 5.5. The venue of arbitration shall be Nagercoil, Tamil Nadu.
6. Company Rights
  • 6.1. STM Jewellers reserves the right to modify, suspend, or discontinue any feature of the app at any time without prior notice.
  • 6.2. The company may amend these Terms periodically. Continued use of the app after such amendments constitutes acceptance of the revised Terms.
7. Disclaimer
  • STM Jewellers provides services on an “as is” basis. While all efforts are made to ensure accuracy,
  • STM Jewellers does not guarantee uninterrupted service, error-free operations, or absolute data security